Wapme Systems AG
Wapme Systems AG Results for the Year 2003
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Wapme Systems AG Results for the Year 2003
+++ 525 % increase in turnover +++ positive EBITDA result +++ strong growth in
value-added service area +++ expansion into the UK and Turkey +++
Dusseldorf, 27/04/2004
Today, Wapme Systems AG has disclosed its preliminary IFRS results for financial
year 2003 and will submit the entire annual accounts to the Deutsche Boerse AG
on 30 April 2004.
In 2004, the group increased its turnover by 525 % to EUR 128 million, thereby
taking a decisive position in the mobile messaging market in Europe.
The group was able to improve its figures significantly; in 2003, a positive
EBITDA of 627 k EUR was achieved as compared to a loss of -7 080 k EUR in the
previous year.
The slightly negative EBIT at -845 k EUR for 2003 also shows a significant
improvement on the negative EBIT of -14 781 k EUR for 2002.
The main generator of turnover in the past financial year was trade; the highest
earnings were achieved by the value-added service area (VAS). The group’s
orientation towards new and fruitful fields of business and the further
expansion into new markets has proved to be the correct path and will be
continued in the coming financial years.
The sale of securities, whose value in the past financial year was lower than
the original purchase price, plus prudent value adjustments in subsidiaries in
the USA and Rumania, have had a negative impact on the results to the amount of
1 805 k EUR. This leads to a result from ordinary activities of -3 238 k EUR.
Liquid assets totalled up to 1 343 k EUR on 31 December 2003. The VAT tax return
receivable from the Steinfurt Tax Authority is still 5.314 k EUR. And,
according to the result of the financial audit, no conclusions were drawn that
would require adjustments for this claim to tax refund.
The equity capital of the company amounts to 9 658 k EUR and the equity ratio
improved to 63.45 %. The number of employees is 60 on average, compared to 76 in
the previous year. The turnover per employee increased from 260 k EUR in 2002
to over 2 132 k EUR in 2003.
The results for 2003 already include expenses for the expansion to new countries
such as the UK and Turkey. While the expenditures have had a negative impact on
the results in financial year 2003, they ensure the positive development of the
group and have already resulted in new orders in the UK and in Turkey in the
current financial year. In the 2004, the group plans an EBITDA of 2 500 k EUR.
The ratios, balance sheet and profit and loss account will be published on the
Wapme Systems AG homepage http://www.wapme-systems.de from today.
end of ad-hoc-announcement (c)DGAP 28.04.2004
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WKN: 549550; ISIN: DE0005495501; Index:
Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin-
Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart
280954 Apr 04
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