ArtStor AG
ArtStor AG english
Ad hoc announcement processed and transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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ArtStor AG – first half-year 2001: sales expansion to 47.0 million EUR on target
/ losses in 2nd quarter considerably reduced
Hamburg – ArtStor AG has achieved a considerable growth in sales compared to
the previous year to reach 47.0 million EUR in the first half-year (prev. year:
6.0 mio. EUR). When conducting the year-on-year comparisons it is necessary to
take the consolidation of the group subsidiary Zeta AG, since January 2001,
into consideration. The sales proceeds were distributed among the storage
segment, with 19.3 mio. EUR, high-end server, with 18,9 mio, EUR, network
clients, with 6.8 mio. EUR, and services with 2.0 mio. EUR. These figures show
that the specialist for data storage solutions is right on target after what is
traditionally a weaker first half-year. The sales plan anticipates 85 mio. EUR
for the entire year. The cost of materials amounts to 42.3 mio. EUR (prev.
year: 5.0 mio. EUR). This development was driven not only by the higher
turnover, but also by Zeta AG’s commercial business. By transferring sales from
the network clients segment to the storage segment, as is
planned, it is hoped that the profit margins will increase whilst reducing
material costs.
The EBITDA fell from minus 0.4 mio. EUR to minus 1.0 mio. EUR. The EBIT shrank
from minus 0.7 mio. EUR to minus 1.9 mio. EUR. The EBIT margin grew from mi-
nus 10.8% to minus 4%. After the first half-year of 2001, theshortfall of the
ArtStor group stands at just under 1.2 mio- EUR (prev. year minus 0.4 mio.
EUR). The shortfall for the second quarter was reduced ahead of target to about
0.38 mio. EUR. Net earnings per share fell from minus 0.06 EUR to minus 0.17
EUR.
Net earnings were subject to one-time special items in the first half-year. The
drying up of liquid reserves was countered by the dissolution of a fund by the
group. By liquidating the fund the company acquired 3.2 mio. EUR. In doing so,
the company took a loss of 1.4 mio. EUR into account that would burden the
quarterly results once only. ArtStor has been implementing a cost-cutting plan
since May. The aim is to adapt the cost structure to IT market requirements and
to the overall weakness caused by the sagging economy. Additional measures
include a stronger control of investments and a tighter organisational.
Contact:
ArtStor AG, Peter Lassen, Tel.: ++49 (0)40 G57 27 585,
http//:www.plassen@artstor.de
end of ad hoc announcement (c) DGAP 16.08.2001
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WKN: 549 286; Index:
Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf,
Hamburg, Hannover, München, Stuttgart
160813 Aug 01
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