Walldorf, April 24, 2002. REALTECH AG recorded sales of €13.4m in the first quarter of 2003, 4% less than in the previous year (first quarter of 2002: €14.0m). Software sales increased by 46% to €2.0m (compared to €1.4m in the first quarter of 2002). Sales in the technology consulting segment dropped by 9% to €11.4m (from €12.6m).
EBITDA (earnings before interest, taxes, depreciation, and amortization) rose to €0.6m (€0.1m), representing a 0.9% increase in the margin to 4.6%. EBIT (earnings before interest and tax) improved to minus €0.2m (minus €0.6m), meaning that the EBIT margin improved from minus 4.2% to minus 1.2%. When comparing these figures, you should bear in mind that - seeing as the software solutions developed in house had become ready for marketing - REALTECH has not capitalized any further expenditure for research and development in accordance with US GAAP since the fourth quarter of 2002. Compared to the same quarter in the previous year, this has resulted in EBIT falling by approximately €0.3m in the first quarter of 2003.
The net income amounts to minus €0.4m (minus €0.5m), giving rise to earnings per share of minus €0.08 (minus €0.09).
In the first three months of 2003, the company’s cash flow from operating activities was €2,9m (€2.7m). At the end of March 2003, net cash and cash equivalents were €19.0m, compared to €16.6m at the end of 2002 and €17.7m at the end of March the previous year.
REALTECH’s report on the first quarter of 2003 is scheduled to be published on May 8, 2003.
Contact person:
Volker Hensel Investor Relations
REALTECH AG, 69190 Walldorf Tel.: +49 6227 837 500 Fax: +49 6227 837 434
