Novasoft AG
Novasoft AG english
Novasoft grows profitably in difficult environment-planned dividend of 0.10 Euro
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Novasoft grows profitably in difficult environment-planned dividend of 0.10 Euro
Despite the depressed economic situation, Novasoft AG is presenting remarkable
figures for the 2002 fiscal year: Revenues increased by 5 percent to 72.1
million Euro (2001: 68.7 mill. Euro). The EBIT margin of 9.4 percent was only
slightly below the targeted double-digit range (2001: 13.4%). The EBIT amounted
to 6.7 million Euro (2001: 9.2 mill. Euro). Due to the acquisition of shares in
the companies in England and Singapore, goodwill amortisation increased by 33.6
percent to 1.5 mill. Euro (2001: 1.1 mill. Euro). Earnings before interest,
taxes and goodwill amortisation (EBITA) amounted to 8.2 million Euro (2001: 10.3
mill. Euro). The EBITDA amounted in the last fiscal year to 9.2 million Euro
(2001: 11.2 mill. Euro). The decline in earnings before interest and tax (EBIT)
largely resulted from the fact that long-running, large-scale projects were
completed in the fourth quarter. The start of new projects was postponed into
the new year by some clients, so that at the end of 2002 temporarily there was a
slightly lower utilisation of the personnel capacity. In addition, there were
one-off effects in the Human Resources area which influenced the result. The
Novasoft Group generated net income of 2.2 million Euro (2001: 4.0 mill. Euro).
Related to the average number of shares in circulation in 2002, earnings per
share amount to 0.12 Euro (2001: 0.22 Euro). A higher tax quota and falling
interest rates in Europe have an effect on the Group result: the tax quota
increased in comparison to the previous year from 37.1 to 46.5 percent. Interest
income declined to 684,000 Euro (2001: 1,018,000 Euro). Due to the comfortable
financial situation of the Group, the Management Board wants to propose the
distribution of a dividend of 0.10 Euro per share to the annual general meeting.
For the first quarter 2003, the company expects revenues of approx. 16 million
Euro and an EBIT margin between 9 and 10 percent. The management of Novasoft AG
sees further growth opportunities within Europe in 2003. For Germany, in view of
the continuing uncertain economic environment at the beginning of the new year,
it is still impossible to make any reliable forecast about the future
development. In 2003, the management of Novasoft AG will concentrate on
profitability.
end of ad-hoc-announcement (c)DGAP 25.03.2003
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WKN: 677890; ISIN: DE0006778905; Index:
Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin-
Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart
250700 Mär 03
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