Bertrandt AG

ots Ad hoc-Service: Bertrandt AG Bertrandt AG's earnings for the whole of fiscal 1999/2000 weighed down by below-budqet 3rd quarter

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    Tamm (ots Ad hoc-Service) - Bertrandt AG's earnings for the whole of fiscal 1999/2000 weighed down by below-budqet 3rd quarter

    The unanticipated weak market and project situation, which is reflected particularly in an inadequate level of utilization of resources, carried over into the third quarter of the current financial year as well. Like the 1st half before it, the 3rd quarter of fiscal 1999/2000 fell well short of expectations both in terms of revenues and earnings, while earnings on ordinary business activity were substantially down on the first half because of the loss sustained in the 3rd quarter. This is due to repeated postponements of projects by major customers, which resulted in a shortfall in capacity utilization, and to unanticipated losses in France. In the nine months to June 30, 2000, revenues came to DM 269,1 million, equivalent to a roughly 35 % increase (June 30, 1999; DM 200,1 million), Earnings on ordinary business activity amounted to DM 3.2 million (June 30, 1999: DM 21.3 million) and German GAAP (HGB) net income to DM 842,000, (June 30, 1999: DM 11,2 million). Net income calculated according to US GAAP stood at DM 881.000 (June 30,1999: DM 12.4 million) and DVFA/SG earnings DM 536,000 (June 30,1999: DM 10.3 million). At this stage, the Bertrandt Group expects to post total revenues of DM 360 million and balanced earnings on ordinary business activity at the end of the fiscal year. The Company's consistent strategic alignment in the light of market requirements will provide it with considerable potential, allowing it to make use of the projects expected in the wake of a recovery in the market to bolster its earnings on a long-term basis in future as well.

    Tamm, July 31, 2000

    Bertrandt AG The Management Board

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