EANS-Adhoc: adesso AG publishes preliminary figures for the first half of 2010; Sales revenues and operating earnings up on the previous year but below guidance; Earnings forecast will be hard to achieve by now

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ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro
adhoc with the aim of a Europe-wide distribution. The issuer is solely
responsible for the content of this announcement.
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17.08.2010

- Sales revenues up 16 % year on year to EUR 37.8 million, of which 8 percentage
points organic growth
- Operating earnings (EBITDA) rise by 40 % to EUR 1.9 million, Q2 an improvement
on Q1
- Consolidated earnings come to EUR 588 thousand, EUR 48 thousand below the
previous year
- EBITDA forecast dropped from EUR 6.5 million to EUR 5.0 million and
consolidated earnings forecast from EUR 4 million to EUR 2.5 million

adesso AG was able to increase sales revenues and operating earnings in the
second quarter of 2010 compared to the previous year and the first three months
of the year. Total sales revenues went up by 16 % or EUR 5.3 million to EUR 37.8
million in the first half of the year. As the general economic situation
continued recovering however, adesso was unable to maintain capacity utilisation
for its consultants and software developers at the level of the previous six
months. Contrary to the Company´s guidance, prices in 2010 have until now
remained constant or dropped only slightly.

Operating earnings (EBITDA) rose by 40 % or EUR 542 thousand to EUR 1.9 million,
falling short of the Company´s expectations. Sales of licenses in Company
software products increased, pushing up EBITDA in turn. The EBITDA margin went
up by 0.9 percentage points to 5.0 % year on year. Consolidated earnings came to
EUR 588 thousand, slightly down by EUR 48 thousand on the previous year due to
higher depreciation and amortisation on the purchase price allocations of
acquisitions as well as deferred tax assets from the measurement of EUR 361
thousand in loss carryforwards.

In June and July, demand for IT consultancy services and software development
rose steeply and adesso managed to increase its capacity utilisation. Overall,
the Company expects earnings and operating margin to increase in the second half
of the year. But it will be difficult by now to still achieve the figures
forecast for the entire 2010 financial year. The EBITDA forecast is therefore
being dropped to EUR 5.0 million (previously: EUR 6.5 million) and the
consolidated earnings forecast to EUR 2.5 million (previously: EUR 4 million).

The complete Half-year Report 2010 will be published on 27 August 2010 and will
be available on the Company website at www.adesso-group.de.

Further inquiry note:
Christoph Junge
Member of the Board
Tel.: +49 231 930-9330
E-Mail: [email protected]
end of announcement euro adhoc
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issuer:   adesso AG
          Stockholmer Allee 24
          D-44269 Dortmund
phone:    +49 231 930-9330
FAX:      +49 231 930-9331
mail:     [email protected]
WWW:      http://www.adesso-group.de
sector:   Computing & Information Technology
ISIN:     DE000A0Z23Q5
indexes:  CDAX

stockmarkets: free trade: Berlin, Hamburg, Stuttgart, Düsseldorf, München, regulated
dealing/general standard: Frankfurt
language: English

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