Mensch und Maschine AG

ots Ad hoc-Service: Mensch und Maschine Expansion into Northern Europe: Successful breakthrough

The sender is solely responsible for the contents of this announcement. --------------------------------------------------------- Wessling (ots Ad hoc-Service) - First-half revenues rise to DM 98.4 million (+8%) The takeover of Force 2 Ltd., UK, means that Mensch und Maschine Software AG (M+M), a leading European supplier of CAD solutions, has started its expansion into Northern Europe earlier than announced. Moreover, the company will soon sign further agreements with takeover targets in Sweden. Based in Thame near Oxford, Force 2 Ltd. generated revenues of approx. GBP 7 million in 1999. The company has a good position in the British CAD market, which is to be expanded further under the M+M umbrella. Following the excellent first three months, demand failed to meet expectations in the second quarter. There was particular restraint on the part of customers in Germany and Italy. M+M was unable to fully isolate itself from this difficult market environment. In the first six months of the year, revenues increased by 8% from DM 90.9 million to DM 98.4 million. As a result of the difficult market situation, earnings before interest, taxes, depreciation and amortization (EBITDA) were down 15% on the same period of the previous year, totalling DM 4.4 million. After the deduction of depreciation and amortization of DM 2.7 million (1999: DM 2.5 million), earnings before interest and taxes (EBIT) stood at DM 1.7 million, compared to DM 2.7 million as per 30 June 1999. Against the background of the earlier-than-expected expansion into Northern Europe and the temporary decline in demand in the companys existing markets, the targeted increase in the profit margin to over 5% before taxes is unlikely to be achieved before 2001. Taking all the above factors into account, the Managing Board now expects approx. 20% sales growth to a good DM 240 million as well as an increase in EBIT by roughly 50% to DM 7.8 million. End ----------------------------------------------------- Internet: http://recherche.newsaktuell.de Original-Content von: Mensch und Maschine AG, übermittelt durch news aktuell

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