CE Computer Equipment AG Exceeds Targeted Growth Predictions in 2000; Earnings Grew Faster Than Sales.Business Editors/Hi-Tech Writers BIELEFELD, Germany--(BUSINESS WIRE)--March 20, 2001 CE Computer Equipment AG (CEYONIQ AG), (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CCEQ), announced today that it exceeded the total year targeted growth predictions for 2000 despite the business trends of many information technology companies. Sales (excluding its U.S. subsidiary TREEV, Inc., acquired in January 2001) increased significantly compared to the prior year by 47.8% to 74.2 million Euros. One-time proceeds from the public offering of its subsidiary GROUP Technologies AG, generated earnings in the amount of 11.91 million Euros. Therefore, the EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become grew in total by 164.9% to 34.7 million Euros, and the EBIT EBIT See: Earnings Before Interest and Taxes EBIT See earnings before interest and taxes (EBIT). grew by 231.3% to 26.5 million Euros. After adjusting for the impact of the proceeds, the EBITDA grew by 74.0% to 22.8 million Euros, and the EBIT grew by 82.5% to 14.6 million Euros. Earnings after taxes were 17.7 million Euros. Earnings per share were 0.91 Euros. After adjusting for the impact of the GROUP Technologies public offering, earnings per share were 0.45 Euros. With anticipated improvement in sales for its U.S. subsidiary, important product innovations and the international expansion of successful marketing concepts, CE expects to achieve another successful year in 2001.
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EUR x 1 million 4th Qtr. 2000 Change 4th Qtr. 1999
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Sales 24.8 (+39%) 17.8
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EBITDA 21.0 (9.1) +228.1% (+42%) 6.4
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EBIT 19.5 (7.6) +364.3% (+81%) 4.2
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EBT 19.4 (7.5) +373.2% (+83%) 4.1
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Figures in parentheses exclude one-time proceeds from public stock
offering of GROUP Technologies AG
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EUR x 1 million 2000 Change 1999
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Sales 74.2 (+47.8%) 50.2
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EBITDA 34.7 (22.8) +164.9% (+74.0%) 13.1
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EBIT 26.5 (14.6) +231.3% (+82.5%) 8.0
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EBT 25.7 (13.8) +225.3% (+74.7%) 7.9
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Earnings per share
(in Euros) 0.91 (0.45) +378.9% (+136.8%) 0.19
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Depreciation for
goodwill 1.9 1.1
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Figures in parentheses exclude proceeds from public stock offering
of GROUP Technologies AG
At year-end there were 651 employees at CE worldwide, representing an increase of 68% compared to prior year. Personnel expenses also increased accordingly by 56.6% to 28.7 million Euros. Expenditures for research and development within the Company were 13.3 million Euros. In the course of establishing an international company, the decision was made to re-name and re-launch the Company as CEYONIQ AG, and the entry in the official trade register in Germany was done on February 21, 2001. The Company will re-name its U.S. subsidiary CEYONIQ, Inc. in May 2001. Notable activities for the year included the acquisition of TREEV, Inc., its U.S. subsidiary, which was consummated con·sum·mate tr.v. con·sum·mat·ed, con·sum·mat·ing, con·sum·mates 1. a. To bring to completion or fruition; conclude: consummate a business transaction. b. January 22, 2001. TREEV is one of the largest providers of software solutions for content management and document management in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. and comprises an essential building block of the globalization globalization Process by which the experience of everyday life, marked by the diffusion of commodities and ideas, is becoming standardized around the world. Factors that have contributed to globalization include increasingly sophisticated communications and transportation strategy by addressing the North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. market. In addition, as part of the acquisition, the Company acquired access to TREEV's portal technology, which will enable the Company to further expand its business opportunities in 2001. Also, in 2000, CE further increased the number of partners in its indirect distribution channels. One of the Company's new business partners, itelligence AG, is active in the SAP R/3(TM) environment. In addition, EinsteiNet, an ASP asp, popular name for several species of viper, one of which, the European asp (Vipera aspis), is native to S Europe. It is also a name for the Egyptian cobra (Naja haja). provider, also chose to use CE's technology. With the integration of the Company's products into Siebel's e-business applications, the customer potential for CE in both Europe and the U.S. is expected to expand considerably. At the beginning of 2001, CE increased its visibility within recognizable companies as a provider of content, document and archive management systems. As a software specialist, the Company is now better positioned to provide complete solutions, which are custom-made especially for the requirements of the respective industries. New customers to CE include, among others, Citibank, VIAG Interkom, GEW GEW Gewerkschaft, Erziehung und Wissenschaft (German: Teachers' Trade Union) GEW Gram Equivalent Weight Koln AG (Cologne Cologne (kəlōn`), Ger. Köln, city (1994 pop. 962,500), North Rhine–Westphalia, W Germany, on the Rhine River. It is a commercial, financial, and industrial center, a rail and road junction, and a river port. Power and Water), Spiegel Verlag Rudolf Augstein Rudolf Karl Augstein (November 5, 1923 - November 7, 2002) was one of the most influential German journalists, founder and part-owner of Der Spiegel magazine. GmbH & Co. KG and Universitatsklinikum Heidelberg (the University Clinic of Heidelberg). About CE Computer Equipment AG CE Computer Equipment AG, Bielefeld (Germany), is a leading European producer of systems for integrated document management and archiving. CE has been active as a systems integrator An individual or organization that builds systems from a variety of diverse components. With increasing complexity of technology, more customers want complete solutions to information problems, requiring hardware, software and networking expertise in a multivendor environment. in the German market for document management and archiving systems since 1984. Since 1995, CE has developed into a supplier of standard software products for integrated document and output management systems. For more information on CE Computer Equipment AG, please visit CE Computer Equipment AG's Web site at http://www.ce-ag.com. About TREEV TREEV enables customers to extend their mission-critical application investments by applying information content to business processes over the Web. TREEV's patented technologies are exemplified by TREEV 2000(TM), its standards-based component architecture consisting of eTREEV(TM) (Web portal See portal. ), DocuTREEV(TM) (document management), DataTREEV(TM) (ERM (Enterprise Relationship Management) An umbrella term with many shades of meaning over the years. It may refer to the management of information from any or all of an organization's customers, suppliers, business partners and employees. ), AutoTREEV(TM) (workflow The automatic routing of documents to the users responsible for working on them. Workflow is concerned with providing the information required to support each step of the business cycle. ) and OmniTREEV(TM) (content management). Headquartered in Herndon, Virginia Herndon is a town in Fairfax County, Virginia, United States. The population was 21,655 at the 2000 census, which makes it the largest of three towns in the county.[1] History , TREEV employs over 200 technology and services experts with over 2,000 customer installations worldwide. For additional information about TREEV's products and services, please call (800) 254-0994 to (703) 478-2260, or visit TREEV's Web site at www.treev.com. This release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . All statements other than statements of fact are, or may be deemed to be, forward-looking statements. These forward-looking statements are not based on facts, but rather reflect our current expectations concerning future results and events, and generally may be identified by the use of forward-looking words and phrases Words and Phrases® A multivolume set of law books published by West Group containing thousands of judicial definitions of words and phrases, arranged alphabetically, from 1658 to the present. such as "planning", "expected", "anticipated", "estimate", "should" as well as similar words and phrases. CE Computer Equipment AG takes no obligation to update or correct forward-looking statements. All statements are subject to various risks and uncertainties as a result of which the actual results could differ materially from the expected results. The forward-looking statements are made only as of the date of this release. |
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