euro adhoc: Lintec Information Technologies AG / Quarterly or Semiannual Financial Statements / LINTEC interim result for Q1 2003: 60 per cent increase in profits, EBIT margin more than tripled reaching 6 per cent. Debts further reduced. (E)

~
---------------------------------------------------------------------
Disclosure announcement transmitted by euro adhoc.
The issuer is responsible for the content of this announcement.
---------------------------------------------------------------------

~

Taucha, 15 May 2003: During the first three months of its new
business year, LINTEC Information Technologies AG (WKN 648 600, ISIN
DE0006486004) has seamlessly continued the positive development taken
over the last quarters. As expected, sales went down 50 per cent on
the calculated value for the same period last year declining from EUR
34.7m to EUR 69.7m. This can be attributed to both LINTEC’s stronger
focus on its own brands and to weak market conditions. At the same
time, however, the gross margin nearly doubled increasing from 15.7
to 28.1 per cent. The EBITDA margin went up from 3.2 to 8.1 per cent
and the EBIT margin tripled reaching 6.2 per cent.
Consequently, as a result of the restructuring process underway, all
quarterly operational key figures could be improved for the third
time in a row.

The amount of working capital required for that could be further
reduced during the period under review. The cash flow from operating
activities was positive again totalling EUR 2m compared with EUR
-3.4m in Q1 of the previous year.

During the past quarter, current liabilities to banks could be cut
down by another EUR 3.3m (EUR 25.7m). One year ago current bank
liabilities still amounted to over EUR 43m. Compared with 31 December
2002 liquid funds went down EUR 1.5m to EUR 3.6m (EUR 2.2m a year
ago). Compared with the previous quarter, the equity ratio (13.8 per
cent) virtually remains unchanged.

Thanks to the restructuring programme underway, personnel expenses
were down almost 28 per cent on Q1 2002. The number of staff employed
at 31 March 2003 totalled 359 (388 at 31 December 2002).
The detailed quarterly report will be made available for download at
www.lintec.de in the course of 15 May 2003. Its printed version can
be requested from our company.

Further inquiry note:
Further information:
LINTEC Information Technologies AG, IR/PR Dept.,
Tel. ++49 (0) 34298 71607, Fax 71372
e-mail: [email protected], web: www.lintec.de
Tel: +49(0)34298 71300
FAX: +49(0)34298 38433
Email: [email protected]

end of announcement        euro adhoc 14.05.2003
---------------------------------------------------------------------

Emittent: Lintec Information Technologies AG
          Otto-Schmidt-Strasse 22
          DE-04425 Taucha
Tel:      +49(0)34298 71300
FAX:      +49(0)34298 38433
Email:    [email protected]
WWW:      www.lintec.de
ISIN:     DE0006486004
WKN:      648600
Indizes:  Nemax All Share, Prime Standard
Börsen:   regulated dealing Frankfurter Wertpapierbörse; free trade

Niedersächsische Börse zu Hannover, Berliner Wertpapierbörse,
Bayerische Börse, Hamburger Wertpapierbörse, Börse Düsseldorf,
Baden-Württembergische Wertpapierbörse
Branche: Computing & Information Technology
Sprache: Englisch

OTS0269    2003-05-14/21:24

OTS-ORIGINALTEXT UNTER AUSSCHLIESSLICHER INHALTLICHER VERANTWORTUNG DES AUSSENDERS | OTB

print