| [28/06/2001] |
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| caatoosee annual sales increase from DM 6.6 million to DM 45.2 million |
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In fiscal year 2000/01 (ending March 31, 2001), caatoosee significantly exceeded its growth projections. Sales of the company, which specializes in information logistics, increased to DM 45.2 million after DM 6.6 million in the previous year. Revenues were DM 6.5 million or 17% above IPO projections.
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Both the higher over-proportional rise in licensing and lease revenues in the product business to DM 9.5 million (previous year: DM 0.6 million) and the company's dynamic international expansion were propelling growth in the reporting period. The share of sales generated outside Germany increased to 36%. At today's annual report press conference in Frankfurt, Guido Alt, the chairman and CEO of emphasized that "during the past fiscal year caatoosee has positioned itself well internationally. In particular, by acquiring the profitable Sigma Group in Indonesia we were able to significantly expand our presence in the Asian growth market."
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At DM -14.3 million (previous year: DM -0.3 million), earnings before taxes (EBT) according to US-GAAP were better than expected. Earnings before interest and taxes (EBIT) in the reporting period came to DM -16.8 million (previous year: DM -1.4 million). With a share of group sales of minus 37%, this corresponds to the IPO-projected ratio of operating loss and group revenue. The EBIT reflects not only start-up investments in joint ventures, but also significantly increased investments in research and development as well as expenses incurred in connection with the dynamic expansion of the caatoosee Group. At the end of the fiscal year, the Group reported a net loss for the year of DM -15.4 million (previous year: -267,000). Earnings per share thus came to EUR -0.53 (previous year: -0.01).
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| Positive EBITDA expected earlier than anticipated |
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| In view of the continuing strong growth, the executive board sees a positive earnings outlook for the company. "We believe that we can generate positive earnings before interest, taxes and depreciation (EBITDA) even earlier than the fourth quarter of fiscal year 2002/03", states Chief Finance Officer Martin Seith. In addition to further expansion, the positive earnings trend at the subgroup redtoo ag and the group-wide actions to improve profitability will also contribute to this positive outlook. "All the Group's activities are expected to become profitable as fast as possible," explained Seith. |
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As of the March 31, 2001 reporting date, holdings in cash and marketable securities amounted to DM 88.7 million (previous year: DM 29.9 million). With total assets of DM 273.3 million, the equity ratio was 77.5% (previous year: 83.7%). Shareholders' equity exceeded the medium and long-term assets by 42%. This shows that, despite its intensive growth and the latest acquisitions, the Group has a sound capital base.
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| Increased investment in research and development |
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| This past fiscal year, caatoosee maintained a high pace in its ongoing development of information logistics technologies and products. Therefore the Group increased its investments in research and development and, correspondingly, expenses increased from DM 1.2 million in the previous year to DM 7.3 million, or a 16% share of total sales. Of major focus here was the consolidation of the fast2find® product line into a central IQ engine, which enables the gathering, processing, profiling and distributing of information. |
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In addition, caatoosee stepped up the development of the fast2find® ASP portal, which in future is expected to provide corporations with access to caatoosee Group solutions via Application Service Providing. "The ASP portal will allow companies to integrate web services internally and externally with partners in a simpler and safer way on a global level," explained Jan Tenné, member of 's executive board. "Hereby enterprises can realize cost savings, reduce the complexity of their internal infrastructures and utilize highly flexible solutions, which are continuously held at the latest technological standard."
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| Number of employees grows to 842 |
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| The dynamic growth of the caatoosee Group is reflected in the corresponding rise in the number of employees. As of the March 31, 2001 reporting date, there were 842 specialists employed with the caatoosee Group worldwide, compared to 137 in the previous year. The average number of employees stood at 326 employees during the# reporting period (previous year: 71). |
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In the past fiscal year, caatoosee's massive growth in personnel was primarily in development capacities. As of March 31, 2001, the Group employed worldwide more than 400 ISO-certified developers at locations in Germany, eastern Europe and Indonesia. Guido Alt stressed the advantages of these international locations: "caatoosee can accelerate both internal as well as foreign development projects almost around the clock since they are passed on from one development location in eastern Europe to BaliCamp in Indonesia. This "development following the sun"-principle has proven to be highly efficient and was successfully tested by caatoosee and the Sigma Group even before the merger."
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| Outlook |
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| In the third quarter of the past fiscal year, caatoosee began to consolidate activities within the Group, which by today has been accomplished for the most part. "caatoosee is based on three centers: acts as the lead company of the Group and has distinguished itself operationally as a provider of innovative information logistics solutions," explained Guido Alt. "The redtoo subgroup expands our service portfolio by its process-oriented services: It integrates the back-end systems in companies with the online world. And finally, the Sigma Group is responsible for operations in the Asian-Pacific region." |
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The rapid utilization of the numerous synergy potentials should result in a significant improvement in group profitability already in the current fiscal year. Technologically, caatoosee plans to further strengthen its position as a leading provider of information logistics through increased development efforts. Here the increased interlinking of development teams in Germany, eastern Europe and on Bali will play a central role. "By harmonizing development capacities, we will significantly reduce both development expenses and development times," added Alt. "This will provide us with competitive advantages, solidifying and expanding our position as one of the leading networking specialists."
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