DGAP-Ad hoc: Integra S.A.
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Ad-hoc-announcement processed and transmitted by DGAP. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------------
Integra delivers 32% revenue growth in H1-01
Paris, August 31, 2001 - Integra (IEA NM or INTG NM), Europe`s leading provider of managed hosting and e-business solutions, announces a 32% increase in revenues to 24.89 million euros in H1-01 from 18.86 million euros in H1-00 and a loss from operations of 39.9 million euros. Integra`s EBITDA for the half year was -33.87 million euros, compared with -13.2 million euros in H1-00.
On June 1 2001, Integra and Genuity announced that the companies had entered into a binding and exclusive agreement to enter into an exchange offer. This proposed transaction was approved by the Commission des Operations de Bourse ("COB") and the offer to Integra shareholders was launched on July 10, 2001. On August 24, 2001 the Conseil des Marches Financiers ("CMF") announced that Genuity had received approximately 75% of the shares of Integra and over 70% of the voting rights. Genuity will be listed on the Nouveau Marche upon approval from the COB and completion of the settlement and delivery of Genuity shares for Integra shares. This paves the way for integrating Integra with Genuity`s European operations to create Genuity Europe.
Genuity has the option to re-open the exchange offer for an additional period of at least 10 trading days and enable additional Integra shareholders to tender their shares. Genuity has yet to make a formal decision regarding this option. Such a decision must be made within the next week. The details of any re-opened exchange offer would be set forth in a future announcement by Genuity. In accordance with the terms of the exchange offer, Integra shareholders would receive three shares of Genuity Class A common stock in exchange for four Integra shares tendered.
Genuity has subsequently agreed to provide an initial credit facility to Integra to underwrite the continued investment in the development of its European business.
end of ad-hoc-announcement (c)DGAP 31.08.2001
Issuer`s information/explanatory remarks concerning this ad-hoc-announcement:
- Integra completed its data centre rollout programme as new second generation Integra Technical Centres were brought on line in Milan and Stockholm at the end of Q2-01. - Signed major new hosting contracts with, amongst others, Envergure (FR), EMI Music (IT), Mitsubishi Motors (SP), Norwegian PTT (NO), Job Partners (UK) - The number of servers operated rose to 1,237 at the end of Q2-01 a net increase from 1,215 in Q1-01, despite the closure of some "Dot Com" customers. Monthly revenues per server were 1,400 euros in Q2-01. - Managed Hosting revenues decreased during Q2-01 due to the failure of several large "Dot Com" customers, combined with over 400 thousand euros of credits made to customers in the period. Project Services revenues grew strongly in the UK and France but were weaker in Germany and Spain and flat elsewhere as eBusiness development projects were delayed or downsized. Although Component Software revenue decreased in the quarter, margins improved following continued downward pressure on costs. - Cost of sales in hosting and project services increased due to the effect of new hires during Q1 and as new data centres were brought on line. - Provisions for bad debts increased to 4.43 million euros at the end of H1-01. In addition provisions for other risks increased to 2.11 million euros. - Integra and Genuity agreed to combine their operations in Europe to form a world-class eBusiness Infrastructure and Managed Services provider, subject to completion. - In connection with the ongoing combination with Genuity, over 800 thousand euros of costs were taken in G&A in Q2-01. - Integra had 944 full-time employees at the end of H1-01, and an average of 941 full-time employees during the same period.
Andy McLeod, Integra`s CEO comments on the H1-01 developments and results:
"The industry as a whole has taken a battering during the half year, and we have suffered our share. Customers are taking their time to revalidate their proposed e-business investments, and are understandably concerned by the financial viability of many suppliers in our segment. To that point we were delighted to be able to announce the agreed combination with Genuity who, as well as bringing their significant history and track record in eBusiness infrastructure, also bring global scale and financial stability to our customers and prospects."
"The opening of our Milan and Stockholm data centres completes our year long roll out. Together with Genuity`s data centre in Amsterdam, we will have unique coverage in Europe. However as the economic climate is expected to continue to be tough, the focus for the next few periods will be on further reducing costs to enable those assets to reach EBITDA break even as soon as possible."
Integra - Fredrik Tangeraas Phone: + 33 (0) 158 042 265 - Fax: + 33 (0) 158 042 102 Email: email@example.com
More information can be obtained from http://www.integra-europe.com -------------------------------------------------------------------------------- WKN: 922684; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München, Stuttgart; Paris
312051 Aug 01
Autor: DGAP import (),20:54 31.08.2001
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