CeoTronics AG

ots Ad hoc-Service: CeoTronics AG Q3 business year 99/00 with good results

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    Rödermark (ots Ad hoc-Service) -      

    The CeoTronics Group was able to increase its nine- month consolidated sales (US GAAP) by 16.7% on the previous year's period to EUR 8.47 million. Incoming orders as of February 29, 2000 saw a year-on-year increase of 32% and Group booked business rose by 204% - a record high. Consolidated earnings in the first nine months of the fiscal year (June 1, 1999 to February 29, 2000) amounted to EUR +81,700 (previous year: EUR -452,280).

    The gross cash flow improved year-on-year from EUR - 150,400 to EUR +342,600 mainly as a result of the investment program and the increase of the profit.

    We consistently adhered to our strategic goal: to strengthen the Group's organic growth from within following our IPO in November 1998 before focusing on external growth through acquisitions. However, this message did not always come across in our financial communications. Organic growth - by strengthening R&D and the expansion of global sales - among other things naturally increases costs. As a result, the Managing Board of CeoTronics prefers to speak of planned investment rather than quarterly losses in this context.

    Past experiences show that during the business year Q4 (March 1 till May 31) is the one with the highest turnover and earnings for CeoTronics. The results known as of February 29, 2000 and the significant figures and the key orders received before going to press (for EXPO 2000 in Hanover, among other things) are expected to lead to record results in Q4 and therefore for the year.

    For further information: Ceotronics AG Investor Relations Adam-Opel-Str. 6 63322 Rödermark Germany

    Phone.: +49 (0) 60 74-87 51-722 FAX: +49 (0) 60 74-87 51-720

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