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ots Ad hoc-Service: CeoTronics AG
CeoTronics continues on the path of growth Increase of incoming orders of 30%
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Rödermark (ots Ad hoc-Service) -
Consolidated interim report CeoTronics AG for the first two quarters
After an encouraging start of the first quarter of the business year 1999/2000, which commenced on June 1, 1999, the CeoTronics Group continued its positive development in the second quarter (September 1 to November 30, 1999).
The company is beginning to reap the benefits of the money invested in organic growth. The results of its research and development activities with respect to the new, revolutionary communication system "CT-GateCom" for wireless aircraft ramp handling were very well received at international trade fairs in Munich (September 1999) and Las Vegas (October 1999). Initial orders and test reports by major airlines mean, that this interesting product group is confident of considerable market success in the future.
Consolidated turnover (US-GAAP) of the CeoTronics Group increased by 13.9%, compared to the preceding reporting period. During the same time the CeoTronics Group achieved a jump in orders of 30%. Despite extra work CeoTronics was not able to convert the increased orders on hand into turnover, because they came in shortly before the end of the quarter. The companywide increase in sales of 13.9% results in a turnover of 5.32 million EURO (US-GAAP).
It should be noted at this stage that the second half (December 1999 (May 2000) of the business year traditionally claims a bigger part of the turnover for the whole year. Due to some orders being placed at short notice, not all orders could be delivered by the end of the quarter; as a result, the backlog of orders increased by about 45%, compared to the preceding reporting period.
CeoTronics in Switzerland increased its sales by almost 30% while Germany was up 10.6% and the US subsidiary up 7.6%.
In the UK, the company closed two large orders which had bound sales capacities there in the second quarter and which are to be delivered in the third and fourth quarter.
The 13.8% decline in sales in France is the result of the continued restrictive ordering policy on the part of public authorities. In this relevant branch the public authorities did not place large orders in this second quarter. CeoTronics is going to enforce its work in those projects.
Sales by CeoTronics in Spain and A&C in France in the area of fast-food communication have been very encouraging and contribute more than 12% to total sales of the group. McDonalds in Paris tested the new CeoTronics communication-system BIMCO in their McDrive (drive-through) and was able to serve 100 customers in 60 minutes. This result gives a positive impact on the future market development.
The groupns DVFA earnings for the first 6 months (June - November, 1999) of the fiscal year amounted to EUR -452,279 (previous year = EUR +40,356). They are mainly influenced by the investments in research and development, expansion of sales activities as well as by high marketing expenditure such as for the new product CT-GateCom.
The companyns turnaround in the US was reinforced by a reduction in losses of almost 50%.
Earnings of CeoTronicsn new acquisition A&C improved substantially in the second quarter as against the first quarter 1999/2000, following the restructuring of the company and its integration into the group.
The increase of the general administration expenses mainly bases on the expenses for the annual stockholders meeting, quarterly statements and due diligences.
In Rödermark, CeoTronics acquired a property during the period under review in order to be able to expand further at this site. The contract and valuation costs relating to a second property nearby are included in the reporting period.
In order to consolidate activities in the video sector, CeoTronics founded a wholly owned subsidiary, CT-Video GmbH, in Saxony-Anhalt on November 18, 1999. Since the latterns costs and earnings in the first 2 weeks were minimal, these have not been included in CeoTronicsn half-yearly financial statement. CeoTronics expects that this investment will substantially strengthen its position on the growing market for special video communication.
After 7 months of the fiscal year (as of December 31, 1999) it is clear that the CeoTronics Group is still growing. The further increase in booked business suggests a healthy upward trend compared with the previous year.
The number of employees (124) as of November 30, 1999 was in line with projections.
The thorough preparations for the expected Y2k computer problems have paid off: the CeoTronics Group experienced no IT problems as of January 1, 2000.
CeoTronics is optimistic about the future. Rödermark, January 20, 2000
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Original-Content von: CeoTronics AG, übermittelt durch news aktuell