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COMPUTERLINKS releases its final results for the financial year 2002 Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– COMPUTERLINKS releases its final results for the fourth quarter and financial year 2002 COMPUTERLINKS AG, Munich, the value added distributor, has increased its group turnover from 161.2 million euro in 2001 to 165.8 million euro in 2002. A turnover of 47.6 million euro was achieved in the fourth quarter of 2002 against 42.2 million euro the same quarter last year, an increase of 13%. Earnings before interest, taxes, depreciation and amortisation (EBITDA) for 2002 was 10.2 million euro (2001: 11.1 million euro). EBITDA in the fourth quarter increased by 16% from 2.7 million euro in 2001 to 3.1 million euro in 2002. The strong and steady increase in cash flow from current operations amounting to 11.9 million euro in 2002 (2001: 5.2 million euro) led to Cash balances of 11.1 million euro at the end of 2002, with no bank borrowings. Goodwill has been reduced from 87.4 million euro, at December 31, 2001 to 8.4 million euro as at December 31, 2002, an accelerated amortisation of 74.1 million euro. Due to the accelerated goodwill amortisation, net result was -74.4 million euro in 2002 (previous year: 1.6 million euro). The goodwill amortisation does not effect the Group’s operating earnings nor its favourable cash position. In the future, planned goodwill amortisation will be considerably reduced from 4.8 million euro to 0.5 million euro per annum. The distribution of sales by country is as follows: In Germany 72.0 million euro were achieved, 68.0 million euro in Great Britain, 15.1 million euro in France and 10.7 million euro in Switzerland. As in the previous year the most dynamic performer was the e-security sector which increased sales by 19.4 percent from 96.8 million euro in 2001 to 115.6 million euro in 2002, 69.7 percent of total sales. Gross profit in 2002 amounted to 34.0 million euro corresponding to a gross margin of 20.5% (2001: 36.0 million euro, 22.3% margin). In 2002 we were able to reduce personnel costs and other operating expenses as a proportion of turnover from 18.5% to 17.8%. The average number of employees was 282 in 2002, against 280 in the previous year. end of ad-hoc-announcement (c)DGAP 11.03.2003 Issuer’s information/explanatory remarks concerning this ad-hoc-announcement: Stephan Link, founder and CEO of the company stated: “Due to our profitable business model, our strict management of costs and our solid cash position we expect a positive development of operating results in 2003. The reduced goodwill amortisation will disproportionately impact our net result. Accordingly we could eventually distribute – an increased dividend – to our shareholders for the year ended 31 December 2003”. The Prime Standard listed COMPUTERLINKS AG complies with all recommendations of the Government Commission for German Corporate Governance Code. Hence, the company has committed itself to a system of transparent, responsible and value orientated corporate governance. COntact: COMPUTERLINKS AG, Bettina Zollner, Tel.: +49 89 93099-174, Fax: +49 89 93099-200, email: Investor-Relations@COMPUTERLINKS.de ——————————————————————————– WKN: 544880; ISIN: DE0005448807; Index: Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover, München und Stuttgart 110805 Mär 03