EANS-Interim Report: adesso AG / Zwischenmitteilung

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Intermediate report of the management pursuant to section 37x of the WpHG
transmitted by euro adhoc. The issuer is responsible for the content of this
announcement.
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adesso AG kicks off the year 2011 with a record quarter

* Sales revenues rise by 52 % to EUR 26.9 million
* EBITDA in Q1 at new high of EUR 2.8 million
* Earnings per share at EUR 0.31 after three months (previous year: EUR 0.09;
full year 2010: EUR 0.42)

In the first three months of 2011, adesso AG increased its sales revenues,
operating earnings and earnings per share to new quarterly highs.

Demand for IT services and software solutions remained at a high level in the
first quarter of 2011. Group sales revenues rose by 52 % on those seen in the
previous year to EUR 26.9 million and by 9 % when compared to the fourth quarter
of 2010. All business segments contributed to organic growth, which amounted to
40 percentage points. Thus, Mobile Solutions is pressing on with the high-speed
growth seen last year. Licence sales revenues with the high-end content
management system FirstSpirit likewise reached a new first-quarter high. The
first projects conducted in Switzerland and France have to be regarded as
another success. Business volume in consulting services and tailored software
development increased significantly in all three markets, Germany, Austria and
Switzerland, with both the expansion of order volume from large existing
customers and sizeable individual projects boosting this development.

In view of the excellent prospects, adesso has continued to expand its
workforce. In the first quarter of 2011, new hires increased the number of
employees by 2 %, to a total of 743. At the same time, the positive market
environment has brought in more work for consultants and software developers
year on year, topping the already positive levels in the previous quarter.
Furthermore, numerous activities contributed to increase the average daily rate
after a period of stagnation. The high number of real working days in the first
quarter also supported the positive developments. Together with high sales
revenues for licences, these factors mean that revenue per employee has risen
noticeably.

Operating earnings, measured in EBITDA, rocketed by 205 % on last year´s figures
to EUR 2.8 million (previous year: EUR 0.9 million). Along with the factors
mentioned above relating to higher workloads and rates and to licence revenues,
cost-reducing factors contributed to the rise in the operating EBITDA margin to
10.3 % (previous year: 5.1 %).

Personnel costs rose at a lower rate than sales revenues, by 41 % to stand at
EUR 17.9 million, and other operating expenses by 39 % to EUR 4.7 million. A
proportionally higher involvement of external employees in adesso projects was a
major factor in the disproportionate rise of 99 % in costs of material to EUR
2.7 million.

Depreciation and amortisation fell by 16 % or EUR 95 thousand to EUR 499
thousand. The intensity of investment in property, plant and equipment remained
constant, while depreciation and amortisation on intangible assets from purchase
price allocations reduced according to plan. At EUR -47 thousand, the financial
result remained almost unchanged (previous year: EUR -30 thousand). All this
meant that overall, EBT increased by EUR 1.9 million to EUR 2.2 million. Due to
the higher level of earnings subject to tax, tax expenses grew to EUR 418
thousand (previous year´s tax income: EUR -251 thousand). Consolidated earnings
for the first three months of 2011 came to EUR 1.8 million, as compared to EUR
0.5 million in the previous year. Earnings per share amounted to EUR 0.31,
contrasting with EUR 0.09 in the previous year.

As of the balance sheet date, adesso held liquid assets amounting to EUR 14.7
million (previous year: EUR 15.4 million), or EUR 2.3 million less than the
figure seen as of 31 December 2010. Net liquidity came to EUR 8.4 million
(previous year: EUR 9.1 million). The equity ratio stood at 49 %. adesso
therefore has a solid balance sheet structure and is in a steady financial
position.

In March, all of the shares in dynamicutilities GmbH were purchased in order to
bring to market readiness the products for municipal utilities and water supply
companies that are currently undergoing development at this company. The
expenses required for this will affect the Group´s consolidated earnings mainly
in the second and third quarters of 2011, as accounted for in the overall yearly
forecast in the amount of EUR 750 thousand. Independently of these developments,
the Group´s business activities are continuing to develop positively across
business segments, sectors and regions. In the months to come, adesso is also
set to benefit from sustained healthy demand for premium IT services and the
good positioning of the company in each sector, confirming the forecast for the
year 2011 with a positive trend.

These and other key figures from the first quarter of 2011 are available on the
adesso website at
http://www.adesso-group.de/en/investorrelations/ under Investor Relations.

The Executive Board

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: ir@adesso.de
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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