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| Nemetschek -> Press | | |
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Ad-hoc Announcement
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| Nemetschek continues positive trend during the third quarter | | |
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Lasting return to profitability / Profit increase despite declining sales / Operating profit of EUR 3 million / Positive development for the year as a whole
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| Munich, November 6, 2003. The Nemetschek Group, one of the leading vendors of software and consulting services for the design, construction and management of buildings and real estate, reported a stable trend of business at a time of continued economic recession, even during the traditionally weaker third quarter of the year. While preliminary figures in the amount of EUR 68.4 million reflect an expected decline in sales during the first nine months of the year (previous year: EUR 77.2 million), Nemetschek was able to increase its operating profit to EUR 3 million compared to EUR -8.8 million reported in the prior year. The Group's net income for the year amounts to EUR 1.9 million, compared to a deficit of EUR 11.7 million for the prior year (including special charges for the restructuring program). On September 30, 2003, the Group's liquid assets totaled EUR 28.1 million (EUR 21.1 million on December 31, 2002).
Nemetschek has thus achieved a lasting return to profitability. In reaction to the economic difficulties in Nemetschek's target markets - construction and IT - the company implemented extensive measures last year to increase efficiency and optimize processes. This year, Nemetschek has continued its reorganization consistently by introducing a holding structure.
Sales generated by foreign subsidiaries continued to hold steady during the first nine months of this year. Consequently, the decline in sales is largely caused by developments in Germany, where Nemetschek continues to suffer the economic weakness and the reluctance to invest in the construction industry. While the Nemetschek Board expects to report a decline in sales for the year as a whole, it nonetheless anticipates positive fourth quarter results in terms of EBIT and net income.
Nemetschek will publish its Quarterly Statement on November 18, 2003.
| For further Information: |
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Nemetschek AG
Richard Höll
Konrad-Zuse-Platz 1
81829 München
Phone: +49 (0)89-9 27 93-1219
Fax: +49 (0)89-9 27 93-5520
rhoell@nemetschek.de |
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