Three Year Summary

Revenues and Income

2004
Tsd. EUR

Change

2003
Tsd. EUR

2004*
Tsd. EUR

2003*
Tsd. EUR

2002*
Tsd. EUR

Revenues

47.075

(13%)

53.824

49.688

55.279

56.981

Revenue Consulting

37.284

(18%)

45.314

39.872

46.756

48.419

Revenue Software

9.791

15%

8.510

9.816

8.523

8.562

Revenue Germany

21.226

1%

21.075

21.226

21.075

24.210

Revenue Foreign Countries

25.849

(21%)

32.749

28.462

34.204

32.771

Earnings Before Interest, Taxes,
Depreciation and Amortization (EBITDA)

1.753

(61%)

4.483

977

4.293

4.941

Earnings Before Interest and Taxes (EBIT)

(296)

(118%)

1.674

(1.116)

1.443

1.853

Earnings Before Taxes (EBT)

172

(88%)

1.491

(691)

1.246

2.215

Net Income

(1.760)

440%

(326)

(1.760)

(326)

306

Earnings per share (in EUR)

(0,35)

483%

(0,06)

(0,35)

(0,06)

0,06

Investments and Depreciation

Investments

896

66%

540

610

4.141

Depreciation

2.049

(27%)

2.809

2.850

3.088

Assets, Stockholders` Equity and Liabilities

Assets

55.290

(13%)

63.546

63.546

62.725

Current Assets

38.867

(15%)

45.875

45.742

42.343

Noncurrent Assets

16.423

(7%)

17.671

17.804

20.382

Net cash and cash equivalents

21.357

7%

19.924

19.960

16.607

Shareholders` Equity

42.442

(4%)

44.024

44.024

44.404

Current Liabilities

12.849

(22%)

16.454

16.454

14.486

Noncurrent Liabilities

0

(100%)

3.068

3.068

3.835

Key Figures

Gross-Margin (%)

38,3

38,6

36

38,1

36,7

EBITDA-Margin (%)

3,7

8,3

2,0

7,8

8,7

EBIT-Margin (%)

(0,6)

3,1

(2,3)

2,6

3,3

Cash Flow from Operating Activities

2.995

4.888

4.366

4.303

Cash Flow from Investing Activities

(896)

(540)

(610)

(4.141)

Cash Flow from Financing Activities

(3.585)

(801)

(801)

(780)

Equity Ratio (%)

76,8

11%

69,3

69,3

70,8

Number of Employees at Year End

537

(7%)

577

595

632