ADS System AG
ADS System AG english
ADS implements restructuring plan already announced
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
——————————————————————————–
ADS implements restructuring plan already announced.
Profits and positive cash flow expected for 2002.
Bad Homburg, December 20, 2001. As announced in the company’s last press release
dated November 22, 2001, ADS has prepared and implemented a restructuring plan
over the past few weeks. As part of this plan, ADS System is focusing on its
core business and markets, which form the basis for solid profitability and
corporate growth.
The following measures have been implemented:
1. ADS System is selling non-profitable equity interests. The interest in the
loss-making Austrian business has been reduced to 20% and this company has been
deconsolidated. The shares have been sold to the local management. The resulting
book loss totals approx. EUR 1.1 million. The annual loss of approx. EUR 1.2
million will not be carried in future.
2. The overhead costs for ADS System AG, Switzerland, have been reduced and this
company has been restructured to better meet market needs. This company
recorded a loss of EUR 0.6 million in 2001 and will break even in 2002.
3. In Germany, ADS has eliminated or terminated all of its peripheral activities
and is now focusing completely on the traditional networking areas of data and
speech communications including service and planning.
3.1. The company will increase its productivity by cutting staff costs by around
25%. This means that the number of employees in Germany will be reduced from
180 to 140.
3.2. Operating costs and overheads were also reduced by around 25%.
4. ADS System AG is forecasting sales in the region of EUR 40-45 million in
2002, taking into account the deconsolidations.
5. The company is forecasting positive earnings in 2002 as a result of the
measures taken. It expects to be profitable and record a positive cash flow from
the second quarter after the staffing adjustments have been completed.
—
ADS System AG, Kay Fautz, Steinmühlstr. 26, 61352 Bad Homburg,
Fon +49-6172-288280, Fax +49-6172-288403, e-Mail IR@ads.de
end of ad-hoc-announcement (c)DGAP 21.12.2001
——————————————————————————–
WKN: 514780; ISIN: DE0005147805; Index:
Listed: Neuer Markt in Frankfurt;
Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, München, Hannover und
Stuttgart
210849 Dez 01
Latest News
Latest Reports
No Reports found
Upcoming Events
No Events found
Webcasts
No Webcasts found