PC-Ware Information Technologies AG
PC-Ware generates earnings before tax of EUR 3.48 million
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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PC-Ware generates earnings before tax of EUR 3.48 million
Proposed dividend of 30 cents per share
PC-Ware AG, a pan-European IT service provider, generated revenue of EUR 404.5
million in the 2003/2004 financial year (1 April 2003 to 31 March 2004).
Earnings before interest, taxes, depreciation and amortisation (EBITDA) amounted
to EUR 6.0 million, while earnings before taxes (EBT) totalled EUR 3.48 million
and profit after taxes EUR 1.68 million. The Management Board and the
Supervisory Board will propose to the General Meeting of Shareholders a dividend
payment of 30 cents per share.
The reported revenue of EUR 404.5 million for FY 2003/2004 was lower than that
generated in the previous financial year (EUR 464.4 million). The decline is
mainly attributable to changes to the reseller payment system used by the
Company’s principle supplier Microsoft, non-recurring effects associated with
the modifications to Microsoft’s licensing programme in the previous financial
year, as well as the general economic climate. Although the Company succeeded in
augmenting revenues in all other areas of its business, aggregate revenue and
profit declined. In spite of the challenging market conditions, PC-Ware invested
in its sales and service-related activities. The total number of employees
increased from 610 to 634 (of whom 27 are school-leaver trainees).
As in the past, trading in software licences was the Company’s core business in
the 2003/2004 financial year. Activities within this area gained further
momentum in the non-Microsoft category. As a result, PC-Ware was able to
increase its gross profit margin from 7.9% to 8.1% – despite continued pressure
on prices. Revenue generated within the area of Software Services increased by
an additional 10.1%. The Group’s system house business grew by 23%.
The share of revenue generated by PC-Ware’s foreign subsidiaries in relation to
total sales remained stable at approximately one-third.
In the current 2004/2005 financial year, PC-Ware is continuing to focus on
further growth in Germany and abroad. The main emphasis is on extending the
Company’s systems-house activities in the German-speaking region of Europe with
the help of the “senas” brand, as well as building a solid cooperation with
Canadian-based software licensor Softchoice to serve large accounts operating
within the global arena and maintaining a policy of continuity in terms of
dividend payments.
end of ad-hoc-announcement (c)DGAP 30.06.2004
Issuer’s information/explanatory remarks concerning this ad-hoc-announcement:
Contact:
Stefan Edlich
Head of Marketing / Kommunikation
Tel: 0341 – 2568 000
investor.relations@pc-ware.de
About PC-Ware:
PC-Ware Information Technologies AG is recognised as one of Europe’s premier IT
service enterprises. The company has established a comprehensive service
portfolio, covering a diverse range of activities from the licensing of
standardised software to the provision of professional software management and
complete system house services, as well as financial services provided via its
own subsidiaries. PC-Ware has emerged as the outright market leader in Germany
and the Netherlands within the field of software licensing and licence
management. Employing over 700 people, the company has subsidiaries in ten
European countries (D, GB, F, I, BE-NE-LUX, A, CZ, and CH) and serves a customer
base of approx. 75,000 corporate clients. PC-Ware works in close cooperation
with a number of global players within the IT industry, including Microsoft,
Novell, IBM/Lotus, Attachmate, Network Associates, Computer Associates, Fujitsu-
Siemens, and Hewlett Packard. The Company has been operating profitably since
its inception in 1990. PC-Ware has been listed on the Frankfurt Stock Exchange
since 5 May 2000. (WKN: 691 090, ISIN: DE0006910904, Reuters Symbol: PCW)
Internet: http://www.pc-ware.de
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WKN: 691090; ISIN: DE0006910904; Index:
Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin-
Bremen, Düsseldorf, Hannover und Stuttgart
300736 Jun 04
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