04.08.03 DGAP-Ad hoc: Novasoft AG <DE0006778905> english - 500 Beiträge pro Seite

[ad_hoc [wO]]

Novasoft AG presents stable quarterly revenues

Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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HD, 4.8.03: Novasoft registered total revenue of 31.4 mill. EUR in the first 6
months of 2003; of the total, with 15.3 mill. EUR around half was accounted for
by the 2nd quarter (Q1 03: 16.1 mill. EUR; Q2 02: 19.0 mill. EUR). After the
first 6 months, the EBIT amounts to 2 million EUR, representing an EBIT margin
of 6.4 %. With almost constant quarterly revenue, the EBIT in the 2nd quarter
with 648,000 EUR was below the result of the first 3 months (Q1 03: 1.4 mill.
EUR; Q2 02: 2.3 mill. EUR).


This development is primarily accounted for by the price situation in Germany
and the results of SARS in Asia. The travel restrictions have handicapped not
only the ongoing project business but also the acquisition of new projects in
Asia. Currently, Novasoft Asia is working intensively on making up for this
involuntary break asap. The pressure on the margin continues in Germany.
Novasoft is countering these external influences through optimizations on the
cost side. Initial measures will begin to take effect in the 2nd half of the
year.
The net result for the first six months amounts to 800,000 EUR (1st half-year
02: 2.0 mill. EUR). That represents a result per share of 0.04 EUR (1st half-
year 02: 0.11 EUR). A major cause of the decline in the 2nd quarter is the high
tax quota of 57 % (1st half-year 02: 39.5%). This increase is due to the
difference in the earnings situation of the Group companies.
Despite the adverse conditions, the utilization rate for the current quarter is
at a high level and extends into the fourth quarter. The biggest new project is
the SAP introduction for Halfords in England with a volume of about 5,000 man-
days. Internationally, activities have been expanded on the Russian market.
After initial smaller projects with SAP Russia in Moscow, Novasoft is currently
working on implementation of SAP for Retail in St. Petersburg.
A reliable forecast of the further trend in turnover and profits continues to be
difficult despite good prospects. "Our objective this year is profitability and
we have achieved this in both the first and in the 2nd quarter. Even if we were
unable to match the result of the first three months the figures lie within our
expectations ", said Dr Georg Konrad, member of the Board of Management of
Novasoft.
The repurchase of own shares was temporarily discontinued in mid-June and had
not been restarted by the end of July.

end of ad-hoc-announcement (c)DGAP 04.08.2003
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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


Autor: import DGAP.DE (© DGAP),07:00 04.08.2003

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