Softline AG

ots Ad hoc-Service: Softline AG Plan Exceeded - Both for Turnover and Income

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  Offenburg (ots Ad hoc-Service) -    

    Business news

    Plan Exceeded - Both for Turnover and Income

    Softline AG Releases 9 Month Results - Plans Well Exceeded

    Offenburg, 5th May 2000. Due to a dramatic increase of turnover in the first nine months of the current fiscal year 1999/2000 (30.6), the Softline Group achieved a profit before tax of 0,8 million Euros. Despite significant marketing expenditures and the burden of its IPO, income surpassed management projections. The turnover of the Softline group totals 28,15 million Euros (+64 percent). During these three quarters Softline AGs German operations achieved a turnover of 24,3 million Euro, compared to 24.8 million Euro for the last fiscal year (+42 percent in Germany).

    Bruno Schwelling, CFO, explains the better than expected results were caused by increase in turnover and a lesser increase in operating expenses. "The online-turnover of the Softline Group has even increased by 353 percent," is Schwelling's analysis of the figures. "Our aggressive expansion and growth strategy with the core elements geographical expansion and forced Internet and E-Commerce growth is starting to take effect and showing extraordinary results," explained CEO Peer Blumenschein. In the future the Softline Group will be in a position to achieve higher gross profits when it expands its software licencing, production and software republishing activities.

    The French subsidiary Apacabar achieved in the third quarter of the fiscal year 1999/2000 a turnover of 3,86 million Euro.

    The employee figures also showed a positive trend at Softline: 134 employees now work in the Softline Group. Despite an industry wide shortage of Internet experts and specialists, in particular for web programming, the company has been able to fill six newly created jobs for web developers, reported CMO Nina Blumenschein. "Our own training program for web developers which Softline started in February is a success and is securing, in the long-term, our requirements for specialists who integrate Softline's One-to- One-Marketing and E-Commerce strategies in the Online-Shop."

    For further information please contact:

    Softline AG Erik Parkner Tel: ++49 781/9293 151 Fax: ++49 781/9293 640 E-Mail:

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