euro adhoc: Lintec Information Technologies AG / Quarterly or Semiannual Financial Statements / LINTEC’s Interim Report on the First Six Months of 2003: Operationally profitable again, upwards trend confirmed, costs further reduced (E)

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Disclosure announcement transmitted by euro adhoc.
The issuer is responsible for the content of this announcement.
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Taucha, 14 August 2003: LINTEC Information Technologies AG
(Securities Code Number 648600, ISIN DE0006486004) achieved a group
surplus in Q2 2003 of EUR703,000, thus continuing the upwards trend
of the past few quarters. Despite the mainly seasonal drop in
turnover, the LINTEC Group scored positive earnings at all levels for
the first time since restructuring began. The progress made through
restructuring is apparent when comparing the last four six-monthly
periods:

Income statement key figures Q3-4/01  Q1-2/02  Q3-4/02  Q1-2/03
(EUR’000)
Turnover                     171,342  119,485   84,912   58,004
EBITDA                       (21,737)  (5,800)  (2,282)   4,114
EBIT                         (24,626) (10,359)  (2,938)   2,901
Pre-tax profits (EBT)        (37,595) (22,882)  (4,259)   2,702
Net income / loss            (25,919) (24,331) (10,563)    (569)

This persistent growth in income despite turnover declining by
two-thirds over the past two years results from increasingly
concentrating on the more profitable own-brand business and lower
costs brought about by more efficient Group structures. The figures
also benefited from writing back provisions no longer necessary in
subsidiaries and valuation adjustments in the investment segment.
Operating cash flow in the first six months of 2003 remained positive
at EUR7.4m (compared to EUR14.3m year-on-year). It was mainly used to
help pay off bank loans. Current bank liabilities were reduced from
EUR32.3m to EUR26.2m, while liquid funds remained more or less
constant at EUR6.4m (up from EUR6.1m). Personnel expenditure was
reduced in the first six months of 2003 by 25.3% year-on-year. The
number of employees in the LINTEC Group dropped from 460 at the end
of June 2002 and 388 at the end of the year to 306.
The full report on Q1 and Q2 2003 can be downloaded from
www.lintec.de. A printed version is available from the company on
request.

Further inquiry note:
LINTEC IT AG, Dep’t MarCom
Tel. ++49/0 34298/71607
E-Mail: [email protected]
Tel: +49(0)34298 71300
FAX: +49(0)34298 38433
Email: [email protected]

end of announcement euro adhoc 14.08.2003
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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: CDAX, Prime All Share, Prime Standard, Technologie All
Share
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

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