SER Systems AG
SER Systems AG english
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Tragic events of September 11, 2001 impact SERs performance in Q3
Neustadt/Wied (Germany), October 1, 2001
In Q1 of 2001, a strategic reorganization plan was enacted in order to produce a
turnaround of the SER Group by the end of 2001. The positive results and
achievements of the American subsidiary of SER Systems AG in Q2 demonstrated the
success of the plan and established the basis for expected performance
achievements for the remainder of 2001.
The terrorist attacks on America on September 11, 2001 resulted in unexpected,
negative impacts upon the US economy. The resulting economic uncertainty
adversely affected the projected US sales revenue for Q3. Many planned September
sales activities were delayed or postponed by customer prospects as a direct
result of these events. The final Q3 results in SER-US were approximately 6.5
Million EUR short of the projected results for the quarter. The shortfall is
largely due to the fact that September revenues did not represent an increase
over the August revenues, notwithstanding that August is traditionally the
weakest month of the year.
Based upon the general economic uncertainty in the US and any subsequent effects
on the European markets, SER expects that the shortfall from Q3 cannot be
recovered before Q1 2002. At this time it is not possible to make a precise
year-end prognosis to which extent SERs EBIT will be negatively affected by
these global aspects.
Your contact to SER: Phone +49 (0) 26 83-9 84-3 61 / ir@ser.com / www.ser.com
end of ad-hoc-announcement (c)DGAP 01.10.2001
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WKN: 724190; Index:
Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf,
Hamburg, Hannover, München und Stuttgart; London
010803 Okt 01
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