Ad hoc-announcement edited and sent by DGAP. The sender is solely
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Frankfurt (ots Ad hoc-Service) -
Increase of Gross Profit by 101% - Number of cytric Customers has
grown by 384% - Consistent Concentration on Development and Sales of
cytric has been increased - EBIT lower, mainly because of first half
year Marketing Cost (All Figures are IAS for January 1, through
September 30, 2000) - USA business strengthened because of the
QuixData, Inc. purchase and subsequent merger with i:FAO of North
America, Inc. - Investment in i-tinerary Travel Solutions, Inc.
completed - eHotel division was successfully separated .
Frankfurt, October 26, 2000 - i:FAO Aktiengesellschaft (WKN 622
452) makes results for the first nine months in 2000 public.Europe's
leading producer of business travel management software has increased
Gross Sales to EURO 19.899 million including the third quarter 2000.
This is an increase of 34.5% over the same period in 1999.
The quarterly results published today do exceed the forecasted
numbers published with the ad hoc release on October 11, 2000.
In comparison to the forecast from October 11, 2000: Total
Performance +4.5%, Gross Sales +4.5%, Gross Profit +13.5%, Earnings
per Share + EURO 0.09, Customers cytric +17%.
In comparison to the same period in 1999: Total Performance
+34.5%, Gross Sales +25.5%, Gross Profit +101%,Earnings per Share +
EURO 1.96, Customers cytric +384%.
Some shareholders and members of the media have read the figures
published on October 11, 2000 as valid for the third quarter (July
1,through September 30, 2000) only, because the text could be
misinterpreted. i:FAO regrets any misunderstanding.
Other core figures have also improved substantially: The increased
concentration on the business travel management software division
further decreased cost of sales related expenses and resulted in a
Gross Profit increase of 101% (compared to the same period in 1999)to
EURO 5.682 million. i:FAO's market leading cytric software is now in
use at more than 446 customers.
The EBIT (Earnings before interest and taxes) amounts to EURO
-5.059 million, which is higher than in the previous year. This is
explained mostly by the increased marketing activities, specifically
in the first half of this year. The high income because of the sale
of TRIP.com shares has made substantial additional funds available to
the company, which i:FAO has partly invested. These investments have
added cost to the EBIT. The additional income of course results in a
very positive financial result.i:FAO continues to plan Earnings of
EURO 1.00 per Share for 2000.
In total the positive numbers confirm i:FAO's strategy to
concentrate activities in development and sales of business travel
Key Figures 2000 (Comparison figures for 1999 in brackets, always
January 1,through September 30, according to IAS, in EURO)
Gross Sales 17.716 Mill. (14.112 Mill.)
Gross Profit 5.682 Mill. (2.813 Mill.)
EBIT -5.059 Mill. (-1,713 Mill.)
EAT 9.206 Mill. (-1.455 Mill.)
Earnings per Share 1.69 (-0.27)
Customers cytric 446 (92)
The complete quarterly report is available from October 26, 2000,
11.00 am local time on our website at http://www.ifao.net
download as a .pdf file.
i:FAO is currently in the process, as already published, to
separate the cabana division from the company. In addition i:FAO
plans to reduce the Travel Service division to the successfull OFS
(Online Fulfilment Service), which supports our cytric distribution,
starting from January 1,2001. At this time i:FAO will discontinue to
offer regular travel agency services completely. The KfW Travel
Center, which i:FAO operated through 2000 based at the Kreditanstalt
fuer Wiederaufbau, will be run by the Hapag-Lloyd Geschaeftsreise
GmbH from January 1, 2001.
Giving up the low-yield travel agency business means for i:FAO -
as also in the eHotel spin-off - a substantial improvement in the
gross sales vs. gross profits relation. Gross sales for 2001 will,
because of the separations eHotel and Travel Service, be reduced by
approximately EURO 15 million, while the gross profit will only be
affected marginally and the operative results will be strengthened
already because of these activities. From January 1, 2001 onwards
i:FAO will discontinue to report - as usual in the travel industry -
gross sales. This will adapt i:FAO Aktiengesellschaft's reporting
principles to those of the software industry. The new reporting
formats will also make certain that the dynamic growth in the cytric
division is properly reflected in the published numbers.
The Executive Management Board
Andrea Petry Investor Relations Manager i:FAO Aktiengesellschaft
Telephone +49 (69) 1530 5500 eMail email@example.com
Additional information, graphics and pictures in high resolution
are available in the press area of the i:FAO website at
i:FAO is traded at the Neuer Markt of the Frankfurt Stock
Exchange. Please pay attention to the new WKN 622 452 of i:FAO
because of the change into registered shares in July 2000. Detailed
information for investors is available on the Internet at
Original-Content von: i:FAO AG, übermittelt durch news aktuell