CyBio AG
CyBio AG english
CyBio AG: Sales in 2001 declined by 32 percent
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Noticable improvement in results expected for 2002
Jena, 26th March 2002; CyBio AG, Jena, (Neuer Markt, WKN: 541230) has in the
previous fiscal year reached a turnover of one third less than in 2000.
According to US-GAAP corporate sales 2001 amount to 14,38 Mio. EUR (21,27 Mio.
EUR). For earnings before interest and taxes (EBIT) the company reports a
deficit of 16,95 Mio. EUR and thus lies significantly below prior year level
(minus 965 TEUR). At year end CyBio had available 9,8 Mio. EUR in free
disposable funds (25,42 Mio. EUR).
Main reasons for the disappointing results of CyBio AG in the previous fiscal
year were too optimistically set expectations. The previous forecast assumed a
sales increase to 30 Mio. EUR. In line with this plan the sales force was
strongly increased. The 2001 results were negatively influenced by nonrecurring
charges such as depreciation in fixed and current assets, too high fix costs in
relation to sales especially in the US subsidiary. The cost reducing measures
initiated in the forth quarter 2001 were unable to decisively influence the
final financial results and thus will fully affect the fiscal year 2002.
For the year 2002 CyBio AG is expecting sales at the amount of 18 Mio. EUR. Main
focus is addressed to a significant improvement in earnings. In order to reach
the goal, the CEO and the supervisory board have initiated extensive cost saving
measures (Ad-hoc as of March, 18th 2002). They include the reduction of the
work force by 25 percent and the merging of some of the subsidiaries into the
R&D department of CyBio AG as well as drastic savings in material costs. At this
basis the company is aiming in 2002 for a balanced result in earnings before
interest and taxes (EBIT). From 2003 onwards CyBio AG will account for an annual
net profit.
Contact:
Cornelia Todt (IR / PR), Göschwitzer Str. 40, 07745 Jena
Tel. +49 3641 35 14 25, Fax. +49 3641 35 13 60
E-Mail: cornelia.todt@cybio-ag.com
end of ad-hoc-announcement (c)DGAP 26.03.2002
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WKN: 541230; ISIN: DE0005412308; Index:
Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf,
Hamburg, Hannover, München und Stuttgart
260826 Mär 02
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