CEYONIQ AG
CEYONIQ AG english
CEYONIQ increases revenue to EUR 102.1 Million
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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CEYONIQ increases revenue to EUR 102.1 Million – 2001 annual result suffering
from one-off costs
Bielefeld, 21st March 2002 – CEYONIQ, a leading global supplier in the expanding
market for innovative content management solutions, achieved in a difficult
market environment, a sales revenue of EUR 102.1 Mio. compared with EUR 74.2
Mio. in the previous year. This is an increase of 37.6%.
Despite what continues to be a very challenging global software market, CEYONIQ
achieved a positive EBITDA of EUR 5.7 Mio. – (after extraordinary effects and
restructuring costs, before measures to minimize risks).
In January 2001, TREEV Inc. was acquired in the U.S.A., in order to expand the
previous sales area into U.S.A, and to incorporate strategically important
solutions and products into the CEYONIQ product portfolio. Following the
acquisition of the U.S. business, it was necessary to streamline and restructure
the organization to improve productivity. During 2001, CEYONIQ AG invested
significantly in the U.S. operation meeting outstanding commitments. Following
an unexpected second half, cost reduction measures were taken, and further cost
reduction measures are also in the process of introduction at CEYONIQ Inc.. The
objective for 2002 is to return the U.S. company to profitability.
In the fiscal year 2001 47.1% (61% in 2001) came from high-profit license
revenue, followed by services with 25.1% (23% in 2001), maintenance revenue
with 20.1% (10% in 2001) and trade goods with 7.7% (6% in 2001). The shift in
the turnover was due to the consolidation of the U.S. subsidiary, which took
place on the 23rd January 2001.
The extra asset values of CEYONIQ Inc., USA (formerly TREEV) and Insiders
Information Management AG, Kaiserslautern, were reduced by one-off write-downs
in the amount of EUR 60.0 Mio., in order to consider the challenging global
economic environment and reduced expectations. EUR 54.0 Mio of this figure was
applied to CEYONIQ Inc., which was acquired in January by issuing 6.65 mio.
shares, and EUR 6.0 Mio. to Insiders, acquired solely by a share transfer.
As a safety measure to allow for outstanding risks, revaluations were carried
out to receivables, which reduced the group results by EUR 28.7 Mio.
end of ad-hoc-announcement (c)DGAP 21.03.2002
Issuer’s information/explanatory remarks concerning this ad-hoc-announcement:
In a year filled with unexpected challenges and tough market conditions, CEYONIQ
optimized its internal structure, making use of synergies arising from previous
acquisitions. This process incurred one-time restructuring costs of approx. EUR
8 Mio., consisting mainly of personnel costs, severance compensation, rental
charges for empty properties after closure of some locations, and other one-time
costs such as the extraordinary General Meeting of last year and the rebranding
campaign.
The cost of research and development within the group was dominated by the
completion of the new product portfolio CEYONIQ Solutions and amounted to EUR 27
Mio. Research and development costs in 2002 will be significantly lower.
The negative annual group result came to EUR -90,4 Mio. after special costs.
CEYONIQ is concentrating on the reduction of internal costs, and is consistently
consolidating and expanding its core competence. The divestment of subsidiary
companies not belonging to the core business, such as HAVI Computer Services,
achieve both a reduction in operating costs and an increase in liquidity. The
expansion of the growing network of partnerships will continue, especially
abroad.
Due to the process improvements and organizational streamlining accomplished to
date, CEYONIQ will achieve a cost savings in 2002 of more than EUR 35 EUR.
Following a weak 1st Quarter due to seasonal influences, an increased order
intake is already being recorded for the 2nd Quarter.
Figures in ‘000 Euro 1.1.-31.12.01 1.1.-31.12.00
Sales revenue 102.1 74.2
EBITDA (after extraordinary effects 5.7 22.8
and restructuring costs, before
measures to minimize risks)
Goodwill depreciation 69.4 1.9
Depreciation on receivables 28.7 0
Other depreciations 12.6 6.3
EBIT -105.0 14.5
EBT -108.7 13.7
Negative Group result -90.4 8.7
EPS (figures in Euro) -3.40 0.45
Equity ratio 35.1% 51.7%
Numbers 2000 without earnings from public offering
Your contact:
CEYONIQ Aktiengesellschaft
Investor Relations
Winterstrasse 49
D-33649 Bielefeld
Tel.: ++49 (0) 521/ 93 18 2001
Fax: ++49 (0) 521/ 93 18 1029
E-mail: investor@ceyoniq.com
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WKN: 542000; ISIN: DE0005420004; Index:
Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf,
Hamburg, Hannover, München und Stuttgart
210839 Mär 02
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