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DGAP-Ad hoc: Wapme Systems AG <WPM> english

Wapme Systems AG expects reduced sales result in Q2 2002

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement.


Wapme Systems AG (SIN: 549550) will report Q2 results below expectations. Sales for the total year 2002 are not assumed above 2001 sales. The company announces a business focus and cost reduction initiative.

Düsseldorf July 11, 2002. The continuously difficult market situation and the weak investment climate also impact negatively the expected results of Wapme Systems AG: According to preliminary figures the Wapme Systems group sales figure will be about 1,6 Mil. Euro in Q2 2002 i.e. 30% below the same period last year. For the total year 2002, however, the sales figure is expected to be in line with last year. The final half year results will be published on August 30, 2002. By introducing an immediate and broad cost reduction and business focusing initiative the company reacts promptly on the reduced demand in mobile data communication products. This focusing initiative is introduced to maintain the competitive edge, to speed up internal processes and to focus on profitable product and service areas. In order to effectively impact internal processes to the changed market environment the management board will closely work with day to day operations. Within the cost reduction initiative administrative costs are targeted to be reduced by 30% mainly by cutting board member compensation by up to 25% and by staff reduction. With the above focusing initiative a thorough review of all assets will be carried out. The company estimates in total a restatement potential of assets in the amount of 4 Mil. Euro without impacting cash reserves. Current calculations indicate that total results will not be profitable in 2002. However, the company expects an improvement vs. 2001 in total. These calculations also suggest sufficient cash reserves for at least 24 months of business.

Contact: Wapme Systems AG, Gabriele Kaiser, Vogelsanger Weg 80, 40470 Düsseldorf, Tel.:+49-211-74845-0, Fax:+49-211-74845-175, Kaiser@Wapme-Systems.de http://www.wapme-systems.de

end of ad-hoc-announcement (c)DGAP 11.07.2002


WKN: 549 550; ISIN: DE0005495501; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart

Autor: DGAP import (),08:54 11.07.2002

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