Crealogix (CH) - Crealogix Group in the first quarter: Profitabili ...

Published: 06:00 11.11.2003 GMT+1 /HUGIN /Source: Crealogix /SWX: 

CLXN /ISIN: CH0011115703
 

Crealogix Group in the first quarter: Profitability lifted despite

stagnant market
 

The Crealogix Group met expectations in the first three months of the

current financial year. Despite a slight recession-induced decrease

in sales, the Crealogix Group raised profitability and posted a net

profit of CHF 273,000.
 

Sales and earnings performance

In the first quarter of the current 2003/2004 financial year

(1.7.2003 to 30.6.2004), the Crealogix Group posted consolidated

sales of CHF 5.466 million (Q1 2002/2003: CHF 5.897 million). For

this period Crealogix reported an EBITDA of CHF 505,000 (480,000), an

EBIT of CHF 212,000 (100,000), and a net profit of CHF 273,000

(45,000). The Crealogix Group has thus significantly increased its

profitability at all levels.
 

Market development and positioning

Although there was no visible improvement in the market in the first

quarter, the Crealogix Group won a number of follow-on contracts from

existing clients. In addition, new clients such as UBS (mobile

business) as well as Hilti, the Canton of Zurich (e-learning) and the

Institute of Certified Accountants and Tax Consultants ('time2learn'

training platform) were acquired.

Crealogix has strengthened its position in the E-learning segment

through the purchase of the e-testing software of the company

Lernzeit-Media. This test platform, which is based on internationally

recognized e-learning standards, marks an ideal addition to

Crealogix' existing range of products and services. At the same time

Crealogix has also taken over the Lernzeit-Media team and their

wealth of know-how.
 

Personnel and operating costs

The Crealogix Group's headcount remained unchanged at 120 as at 30

September 2003. Nonetheless, in the first quarter of the current

financial year, the Group still managed to reduce personnel costs by

12 percent year-on-year. At CHF 820,000, other operating expenses

were 30 percent lower than in the first quarter of 2002/2003. The

Crealogix Group has thus been able to continue optimizing costs both

in absolute and in relative terms.
 

Outlook

The Crealogix Group has not witnessed any visible signs of an

increase in the willingness on the part of its clients to invest.

Despite muted sales expectations, the Board of Directors and

Management expect that the Crealogix Group will also close the

2003/2004 business year with a positive EBIT and net profit.

Crealogix will, at the same time, endeavour to exploit any attractive

opportunities which present themselves in order to grow through

acquisitions.
 

This media information including the key figures can be downloaded as

PDF from:
 
 http://hugin.info/132137/R/924391/125594.pdf
 

The full quarterly report can be downloaded from our website at

www.crealogix.com.
 

Zurich, 11 November 2003
 

For further information:

Jürg Neck, CFO

juerg.neck@crealogix.com

CREALOGIX Holding AG

Thurgauerstrasse 39

CH-8050 Zurich

Phone +41 1 302 19 25

Fax +41 1 302 19 26

www.crealogix.com
 

Crealogix is one of the leading IT and software service provider in

Switzerland. Specializing in the fields of e-finance, e-learning and

mobile business, Crealogix designs and realizes integrated

applications using web technologies. Its core competencies cover

consultancy, software development and integration as well as user

interaction design.

Crealogix (CLXN) is listed on SWX New Market.
 

Key dates

17 February 2004

Report on 2nd quarter 2003/2004
 

18 May 2004

Report on 3rd quarter 2003/2004
 
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