EANS-News: adesso AG continues strong sales and operating result growth in first half of year / forecast increased

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6-month report

Subtitle: adesso sets new sales and operating result records in first
half of year / positive development continues in second quarter

Dortmund (euro adhoc) - adesso sets new sales and operating result
records in first half of year / positive development continues in
second quarter

* 40% sales increase to EUR 52.9 million * EBITDA climbs 184% from
EUR 1.9 million to EUR 5.3 million * Earnings per share up from EUR
0.10 to EUR 0.34 despite special amortisation * Sales and operating
result forecast for 2011 has been raised

In a positive market environment, adesso continued its strong
development in the second quarter reaching new sales and operating
result highs. The 40% sales increase to EUR 52.9 million was mainly
due to the expansion of business in Switzerland, high license
revenues from its own high-end content management system FirstSpirit,
the continuing boom in the development of mobile applications and its
first life insurance project. adesso´s own combination of consulting,
tailored software development and solutions for mobilisation and
digital content management won it a number of important new customers
such as Debeka, KLM, Geberit and PAYBACK. 32 growth percentage points
related to organic growth and 8 percentage points to the delayed
effects of the change to the consolidated group.

The operating margin rose to 10.1% from 5.0% in the last year. This
increase was driven by the pleasing development of target licensing
revenues, continuing high utilisation and successes in pushing
through higher daily rates. In the first half of the year, the
operating result, as measured by EBITDA, amounted to EUR 5.3 million
after EUR 1.9 million in the previous year. EBITDA for the second
quarter amounted to EUR 2.6 million, following EUR 2.8 million in the
first quarter.

Consolidated earnings more than tripled to EUR 2.0 million (previous
year: EUR 0.6 million). Earnings per share amounted to EUR 0.34 after
EUR 0.10 at the same time last year and EUR 0.42 for 2010. Special
amortisation resulted in earnings per share in the second quarter
falling to EUR 0.03 after EUR 0.31 in the first quarter. As of the
reporting date 30 June 2011, EUR 1.4 million (corresponding to EUR
0.25 per share) was recognised as an expense from the partial
amortisation of the goodwill assigned to adesso Austria. Performance
in Austria was lower than expected in 2011 and an impairment test on
the amounts from acquisitions led to this partial amortisation, which
impacted earnings.

Liquidity and balance sheet figures continue to show a solid basis
for reserves and investment opportunities. Cash and cash assets
amounted to EUR 13.3 million as of the reporting date 30 June
(previous year: EUR 12.8 million) and net liquidity less
interest-bearing liabilities was at EUR 7.2 million (previous year:
EUR 4.8 million). Consolidated earnings less the dividend payout
increased equity to EUR 32.4 million (31 December 2010: EUR 30.9
million) and the equity ratio was up 0.8 percentage points in the
first half of the year, totalling 50.4%.

adesso held its own in a challenging personnel market. In the first
half of the year alone, the number of employees (full-time
equivalents) rose by 5% to 764.

Outlook: Sales and operating result forecast increased

Given the forecasts for the overall economy and the IT sector for the
second half of the year, adesso is predicting declining demand
pressures, particularly in the financial sector. Average utilisation
will be good but is expected to fall slightly. In production,
pipeline demand will continue to be high for the remainder of 2011.
Overall, the sales forecast for 2011 is being increased to more than
EUR 100 million (previously: EUR 92 - 95 million) on the basis of the
positive development.

The EBITDA forecast for 2011 is also being raised, from EUR 6.2 - 6.5
million to EUR 7.5 - 8.0 million. The implied slowdown in the second
half of the year is due to expected lower utilisation, no more
activations of self-developed software (first half of the year: EUR
544 thousand) as well as higher costs of further developing the
"dynamic.suite" product family. Excluding the EUR 1.4 million special
amortisation of goodwill in the first half of the year, consolidated
earnings will develop disproportionately well compared to EBITDA in
the second half of the year.

The complete interim report is available online at
www.adesso-group.de.

The Executive Board

Further inquiry note:
Martin Möllmann
Manager Investor Relations
Tel.: +49 231 930-9330
E-Mail: ir@adesso.de

end of announcement euro adhoc
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company: adesso AG
Stockholmer Allee 24
D-44269 Dortmund
phone: +49 231 930-9330
FAX: +49 231 930-9331
mail: ir@adesso.de
WWW: http://www.adesso-group.de
sector: Computing & Information Technology
ISIN: DE000A0Z23Q5
indexes: CDAX
stockmarkets: free trade: Berlin, Hamburg, Stuttgart, Düsseldorf, München,
regulated dealing/general standard: Frankfurt
language: English