CPU Softwarehouse AG

ots Ad hoc-Service: CPU Softwarehouse AG Operating result from ordinary business in 2000 well on schedule due to extensive restructuring measures

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    Augsburg (ots Ad hoc-Service) -       - Reduction in costs to the sum of 4.6 million DM achieved in 2nd half-year 2000

    - Preliminary figures in 1st quarter 2001 confirm successful repositioning

    - Executive Board raises the forecast for 2001

    In the business year 2000 CPU Softwarehouse AG, Augsburg, achieved both the turnover and costing targets set at the AGM. In just under 5 months the new management has been able to bring about a clear change for the better. The Executive Board therefore finds it necessary to adjust the forecasts for 2001, significantly raising the figures concerned.

    Sales revenue to the sum of 20.2 million DM and personnel and operating expenditure to the sum of 57.8 million DM in 2000 led to an operating result (EBITDASO) of - 37.6 million DM, this being better than the forecasted figures. Compared to the original forecasts for a continuation of the actual situation to 30.8.2000, a reduction in costs of no less than 4.6 million DM was realised. To adjust the balance sheet with regard to inherited liabilities, the Executive Board announced in December 2000 that it would be undertaking a one-off unscheduled amortisation, primarily for goodwill, to the sum of 77.6 million DM. This affects neither the operating result or the liquidity of the company. CPU Softwarehouse AG still has a high level of cash reserves - due to the restructuring measures the cash burn rate was significantly reduced from 2.5 million DM/month in 2000 to 0.9 million DM/month in the current business year. The preliminary figures for the 1st quarter 2001 also show a clear change for the better. The turnover is expected to be approx. 5 million DM compared to 4.2 million DM in the same quarter last year and the operating result is also expected to improve by 5.7 million DM from - 8.2 million DM to - 2.5 million DM (EBITDASO).

    CPU now aims to significantly undercut the operative target of -16.2 million DM, announced at the analyst conference in November 2000. Based on the currently available data, the Executive Board forecasts a provisional operating result (EBITDASO) of approx. - 10 million DM.

    WKN: 545430; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart

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