EMTS Technologie AG
EMTS Technologie AG english
EMTS AG: OP-2003
Ad-hoc-announcement processed and transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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EMTS: streamlining of group structure close to completion. Positive results
expected from core countries as early as Q2 / 03.
Salzburg: The streamlining process of the group structure of EMTS Technologie
AG will be soon concluded following the insolvency proceedings / liquidation of
all subsidiaries in Norway: Tele Engineering AS, EMTS Laboratory AS, EMTS
Center AS, Mobilfagmannen AS, in Sweden: EMTS Repair Center AB as well as EMTS
Eesti OÜ, Estonia.
The companies in question generated more than 60% of its revenues by servicing
Nokia products. Due to the Nokia agreement being terminated, the lion’s share
of the volume of business fell flat and could not be replaced by other products
and customers at such short notice that business operations could have been
successfully maintained. Likewise, a sale of the companies was doomed to
failure because of the current oversupply in terms of service capacities for
mobile phones throughout Europe.
EMTS’ Management is convinced that this step has enabled the Company to achieve
a core structure with which it can continue to operate in the future.
Negotiations with banks concerning the necessary adjustment of the level of
borrowed funds to the current corporate downsizing are also proceeding and
will be the basis of the annual report 2002.
The positive EBITDA figures are anticipated in the core countries of Germany,
Spain, Italy and Denmark as early as the 2nd quarter of 2003, with revenues
anticipated to reach approx. Eur 40.0 million for 2003. Per march 31th, 2003
the EMTS 51 % stake in the finnish Company Oy Angio Service AB has been sold to
Oy Anglo Nordic, the 25 % minority shareholder.
The structure of the group and its headquarters have also already been adjusted
to the new, consolidated corporate downsizing. Efforts are to be made in the
next several months to enter into a strategic partnership and/or to initiate a
capital increase.
http://www.emtscenter.com
Investor Relatlons: E-mail: investor.relations@emtscenter.com
Tel.: +43-662-623391-0
Corporate Spokesperson: Karin Keglevich
E-mail: keglevlch@spa-co.at
Tel.: +43-1-5322545-10
Title: EMTS Technologie AG, Salzburg
ISIN Nr.: AT0000926266
end of ad-hoc-announcement (c)DGAP 31.03.2003
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WKN: 616516; ISIN: AT0000926266; Index: SWX New Market
Listed: Swiss Exchange; Freiverkehr in Berlin-Bremen, Frankfurt, München und
Stuttgart
311834 Mär 03
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