GFT Technologies SE

euro adhoc: GFT Technologies AG
Quarterly or Semiannual Financial Statements
Due to special developments GFT Technologies AG’s revenues and earnings fail to meet expectations for the first quarter (E)

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According to preliminary figures the GFT Group achieved revenues of Euro 39.8m., some Euro 5m. less revenues than expected during the first quarter 2002. This is mainly due to an order shortfall from Deutsche Bank in the project business. With this major client the group achieved revenues of nearly Euro 20 m. in the first quarter.

GFT has initiated intensive conversations with Deutsche Bank about the contractually agreed revenues for the remaining business year. Deutsche Bank is GFT’s largest client and owns 25.04 % of GFT’s share capital.

Today the Supervisory Board transferred the responsibility in the Executive Board for clients from the financial services segment from Roland Härtner to Dr. Thomas Gumsheimer, who is now responsible for the entire sales activities.

Earnings before interests and taxes (EBIT) in the GFT Group amounted to Euro -3.2m in the first quarter 2002. The cost containment program that has been initiated in the previous year, has already shown sustainably positive effects, but could not completely compensate the unexpectedly lower revenues.

The final quarterly results will be released as announced on May 16, 2002.

Contact: Sandra Strüwing, Director Investor Relations, GFT Technologies AG, Leopoldstraße 1, D-78112 St. Georgen, T: +49-7724-9411-423, F: +49-7724-9411-883, M: +49-173-7085834, sandra.struewing@gft.com

end of announcement            euro adhoc 08.05.2002
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Further inquiry note: Frau Strüwing Sandra

Branche:        Software
ISIN:            DE0005800601
WKN:              580060
Börsen:         Deutsche Börse AG Frankfurt, Baden-Württembergische
Wertpapierbörse, Bayerische Börse, Bremer Wertpapierbörse (BWB),
Börse Düsseldorf, Hamburger Wertpapierbörse, Handelsüberwachung
der Berliner Wertpapierbörse, Niedersächsische Börse zu Hannover

Original-Content von: GFT Technologies SE, übermittelt durch news aktuell

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