euro adhoc: JoWooD Productions Software AG / Earnings Forecast / JoWooD Productions Software AG - Preliminary Results 2002 (E)

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- Sales in the fourth quarter amounted to EUR 13.3 illion, Group results after minorities clearly positive at EUR 1.8 million

  • Total sales in 2002 rose to EUR 43.5 million
  • Initial restructuring programme successfully implemented

In the fourth quarter 2002 sales of JoWooD Productions Software AG amounted to EUR 13.3 million. EBIT was at EUR 96,000 and Group result after minorities in the same period reached EUR 1.8 million. The main contributing factor was the huge success of Gothic II in the German speaking territory.

Preliminary sales of the JoWooD Group rose by 4.4% compared to last year to EUR 43.5 million in 2002. Due to value corrections of assets and restructuring measures started in the third quarter, preliminary EBIT dropped to EUR -42.8 million. The Group result after minorities amounted to EUR minus 28.6 million. EBIT before restructuring measures was at EUR - 5.6 million for the whole business year.

Despite the difficult liquidity situation in the fourth quarter and loss of sales the results reflect the first positive trends due to restructuring measures implemented. Their long term effect and perspective for the company continue to be both dependent on the fast and successful implementation of a new distribution concept.

"The 2003 business year clearly reflects the company’s new positioning. Many top titles are already in the product pipeline and the international release of Gothic II is yet to come. In the meantime we will continue to evaluate the structural reorganisation in order to strengthen the Group in the long term," commented Andreas Tobler, member of the management board.

The 2002 final results will be published on March 5th, 2003.

Further inquiry note:
JoWooD Productions Software AG
Dr. Michael Pistauer, Management Board
Karin Kraberger, Investor Relations
Tel.: +43 (0)3614 2966 1015
Tel: 0043 3614 2966-1015
FAX: 0043 3614 2966-1023

end of announcement euro adhoc

Emittent: JoWooD Productions Software AG
Bahnhofstrasse 22
AT-4802 Ebensee
Tel: 0043 3614 2966-1015
FAX: 0043 3614 2966-1023
ISIN: AT0000747357
WKN: 074735
Indizes: ATX Prime, ViDX, WBI
Börsen: free trade Baden-Württembergische Wertpapierbörse, Bayerische Börse, Berliner Wertpapierbörse, Frankfurter Wertpapierbörse; official dealing Wiener Börse AG
Branche: Software
Sprache: Englisch