Graphisoft N.V.
Graphisoft N.V. english
Half Year Report 2002
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Budapest, August 8, 2002 – Graphisoft announced today revenues of EUR 6.6
million and EUR 13.2 million for the second quarter and the six-month ended June
31, 2002 respectively. The 22.5% and 9.0% decrease compared to the same period
last year were divided unevenly among the Company’s regional markets and are
attributable to the effects of the global economic slowdown and Graphisoft’s
product development cycle. Despite the difficult market situation, the Company
remained financially strong and improved its operational efficiency.
Graphisoft’s major target market, the A/E/C
(architecture/engineering/construction) segment is clearly slowing down due to
its sensitivity to macroeconomic difficulties in the major economies. This,
coupled with the effects of the Company’s product development cycle, set back
sales in the second quarter, to a different degree in Graphisoft’s individual
markets. Considering the first six months of the year, lower sales in Europe
(EUR 1.4 M) were partly offset by increased sales in North America (EUR 0.7 M).
Due to the product development cycle, seasonality distorts the quarter over
quarter comparison. While in the first half of 2001 Graphisoft shipped a new
version of ArchiCAD and benefited from bustling customer demand, in 2002 the
equivalent major product release is scheduled for the second half of the year.
The Group maintained cost-cutting measures that led to a reduction in operating
expenses both in the first and in the second quarter, in comparison to the same
previous year periods, and retained its positive operating income in the first
half of the year. However, the impact of foreign exchange losses and a change in
accounting principle related to accounting for goodwill made the Company
realize a 756 thousand EUR net loss in the first half of the year.
Management continues to monitor the situation, is carrying out the re-
structuring of the Group, and is taking the necessary measures to position
Graphisoft for future growth and the regaining of consistent profitability.
end of ad-hoc-announcement (c)DGAP 07.08.2002
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WKN: 913585; ISIN: NL0000200525; Index:
Listed: Neuen Markt in Frankfurt; Freiverkehr Düsseldorf, Bremen, München
Stuttgart, Berlin, Hannover und Hamburg
072032 Aug 02
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