Annual results for fiscal 2001/2002 published / Total sales increase to €42.4 million / EBITDA before exceptional charges and restructuring expenses stands at minus €8.4 million

Leonberg/Stuttgart, 28 June 2002

Today the information logistics specialist , Leonberg/Stuttgart (Germany), presented its annual results for fiscal 2001/2002, a year characterized by significant restructuring activities. Consolidated sales for the Group have been propelled to €42.4 million (previous year: €23.1 million). The loss before interest, taxes, depreciation and amortization (EBITDA), and before goodwill-related impairment losses, exceptional charges (reverse transaction/disposal of investments) and restructuring expenses, amounts to €8.4 million. The number of employees fell from 842 in the previous year to 772. In view of the growing interest shown in software for so-called information qualification, the company's CEO Guido Alt is confident when it comes to the remaining fiscal year 2002/2003.

The results of the financial year ended were influenced to a large extent by one-off charges amounting to €26.9 million. These included costs attributable to restructuring (€1.3 million), impairment losses recognized in connection with goodwill (€14.5 million) as well as exceptional charges due to the reverse transaction and disposal of investments (€6.7 million), in addition to impairment losses related to financial assets (€4.4 million). At the end of the fiscal year, the information logistics company based in Leonberg posted a consolidated net loss of €54.9 million (previous year: loss of €7.8 million). The loss per share is €3.18 (previous year: loss of €0.53 per share. Cash flow was minus €12.1 million.

Having said this, caatoosee began the new fiscal year on a sound financial footing. As of March 31, 2002, cash and cash equivalents and marketable securities stood at €24.0 million (previous period: €45.4 million).With €54.9 million in stockholders' equity (previous year: €108.3 million), the equity ratio lies at 65 percent (previous year: 77.5 percent). As of March 31, 2002, financial liabilities amounted to €10.7 million (previous year: €9.5 million), of which €8.7 million (previous year: €9.0 million) is attributable to long-term debt.

In the year under review research and development costs weighed in at €5.4 million, which corresponds to 13 percent in relation to revenues. caatoosee remains committed to further enhancing its cutting-edge technology. A new version of its iq-server will be launched towards the end of 2002.

When asked about the company's prospects for the remaining fiscal year, Guido Alt provided an optimistic outlook, while at the same time drawing attention to the current tentativeness witnessed in terms of capital expenditure. "The level of incoming orders in the first quarter particularly when it comes to products has been very encouraging." Following an incisive restructuring plan implemented in the fiscal year just ended, Alt reaffirmed that "the focus on information logistics has proved to be a very astute approach. Companies are realizing that the onus is now on them to tackle the plethora of information flooding in from all areas." The full consolidated financial statements will be presented by the Management Board at today's press conference in Stuttgart (10:30 a.m., Steigenberger Hotel Graf Zeppelin).

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michael gemeinhardt
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Investor Relations Contact:

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