Brainpower N.V.
Brainpower N.V.: records a profitable quarter and revenues growth of 24%
Ad hoc announcement §15 WpHG
Brainpower N.V.: First Quarter Announcement
Brainpower N.V.: records a profitable quarter and revenues growth of 24%
Ad hoc announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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-Revenues of 1.84 million Euros, up 24% above Q1 2004
-Operating expenses are 1.45 million Euros, down 18% from previous year
-Profits on an ongoing EBITDA basis
-Positive cash-flow
Brainpower N.V. (Deutsche Börse, Prime Standard: BPW), leading provider of
technology for delivering investment intelligence to global asset and wealth
managers, announces results for the First Quarter ended March 31st, 2005.
Revenues for the quarter equaled 1.84 million Euros, up 24% from the first
quarter 2004 results and up 8% from the fourth quarter 2004. In the first
quarter operating expenses equaled 1.45 million Euros, down 18% over the first
quarter 2004.
From January1st 2005 Brainpower applies the International Financial Reporting
Standard (IFRS) 2.The share-based compensation – which is a non-cash item for
the Company – is recorded as operating expense.
The first quarter 2005 EBITDA (earnings before interest, taxes, depreciation
and amortization), before restructuring costs and before stock-based
compensation, was positive for 92,000 Euros. This compares to a loss of
590,000 Euros loss registered in the first quarter of 2004.
Rocco Pellegrinelli, CEO of Brainpower, commented: “Brainpower registered its
second profitable quarter, on an ongoing EBITDA basis, on expanded sales. The
positive trend in the key financial metrics confirmed the good progress in
terms of business growth and operational efficiency. The first quarter proved
to be very satisfactory as concerns both the incremental deals with existing
customers as well as the expansion of our sales pipeline. We continue to see a
strong demand for our broad technology offer throughout the asset management
and wealth management community. The first quarter’s results confirm that
Brainpower is on a solid track to achieve the company’s objectives for the
year”.
Ermenegildo Beghé, Chief Financial Officer of Brainpower, added, “In the first
quarter we recorded improvements in terms of revenues, profits and cash-flow.
We remain focused on keeping costs under strict control in order to maximize
margins. We are very pleased with the current progress, which follows the
strategic restructuring of last year”.
Brainpower N.V.
Herengracht 469
NL-1017 BS Amsterdam
Niederlande
ISIN: NL0000238228
WKN: 553169
Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin-
Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart
End of ad hoc announcement (c)DGAP 24.05.2005
Issuer’s information/explanatory remarks concerning this ad hoc announcement:
ABOUT BRAINPOWER
Brainpower is a well-established leading provider of technology for delivering
investment intelligence to global asset and wealth managers. Brainpower’s
extremely comprehensive and innovative products portfolio enables investment
decision makers and their distribution channels to deliver differentiated
products and distinctive service, while effectively managing their costs.
Customers include leading players in the fields of asset management, private
banking and online financial services. Brainpower’s technology is currently
distributed, either directly or through third parties, in major financial
centers including: Amsterdam, London, Geneva, Milan, Frankfurt and Zurich.
For further information see: http://www.brainpowerweb.com or contact:
Ermenegildo Beghé
Chief Financial Officer
Brainpower N.V.
Tel : +41 91 985 7070
Email: ebeghe@brainpower.ch
End of message (c)DGAP
240830 Mai 05
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