CPU Softwarehouse AG

ots Ad hoc-Service: CPU Softwarehouse AG CPU achieves target figures for 3rd quarter 2000. Foundation laid for business year 2001.

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    Augsburg (ots Ad hoc-Service) - CPU achieves target figures for 3rd quarter 2000. Foundation laid for business year 2001.

    CPU Softwarehouse AG, software solution provider for financial service companies, announces results for 3rd quarter 2000.

    Based on the Q3 results, CPU confirms compliance with the targets for 2000 announced at the AGM, The turnover for the first nine months - to the sum of 14,3 million DM (same period last year 14,1 million DM) - developed within the adjusted target corridor. The personnel expenses - amounting to 23,6 million DM (previous year 12,4 million DM) - and the goodwill amortisation - amounting to 0,4 million DM (previous year 1,8 million DM) - continue to considerably burden the income situation. Due to these inherited liabilities the revenue achieved in the past quarter could not be significantly influenced. This led to an operating result of minus 30,5 million DM. After goodwill amortisation and stock options the result was minus 42,7 million DM (previous year -12,3 million DM).

    The restructuring measures already in place mean that the predicted overal target figures for 2000 will be achieved both on the turnover and cost side. This will provide an operating result before goodwill amortisiation and stock options (EBITDASO) of minus 38,1 million DM. This will signify the end of the negative trend in the last quarter.

    According to the CPU Executive Board, the economic basis of over 50 million DM cash assets (including seccurities), the nearly 20 years of experience accumulated by CPU on the market and the resolute implementation of reorganisation and repositioning measures form the basis for further positive development. The Executive Board then added that increases in turnover of around 30% and cost reductions of approx, 37% are forecasted for the coming year. The Executive Board pedicts an EBITDASO of minus 16,2 million DM for 2001, which would halve the losses made in 2000.

    Your contacts:

    For investors and analysts: Nicola Gehrt IR Manager Tel:+49/821 / 46 02-105 e-mail: n.gehrt@cpu-ag.com

    For the press: Jürgen Rönsch PR Manager Tel:+49/821/46 02-173 e-mail: j.roensch@cpu-ag.com

    End ----------------------------------------------------- Internet: http://recherche.newsaktuell.de

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