EANS-Adhoc: adesso AG / Earnings decrease despite rising sales in the second quarter, annual forecast is being reduced

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ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro
adhoc with the aim of a Europe-wide distribution. The issuer is solely
responsible for the content of this announcement.
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Preliminary Figures

14.08.2012

Based on the preliminary figures for the second quarter of 2012,
adesso closes the period with sales revenues rising further to EUR
28.9 million (Q1: EUR 27.4 million; previous year: EUR 26.0 million)
and operating earnings (EBITDA) dropping to EUR 0.1 million (Q1: EUR
1.3 million; previous year: EUR 2.6 million). In the first half of
the year, sales came to EUR 56.3 million (previous year: EUR 52.9
million) and EBITDA to EUR 1.4 million (previous year: EUR 5.3
million). The full year guidance is being reduced despite the
expected earnings increase in the second half of the year.

The drop in operating earnings in the second quarter resulted from a
lower number of real working days, a reduction in consultant and
developer capacity utilisation in several business fields, an
unprofitable fixed-fee project, lower license sales for
company-produced products and solutions as well as expenses for
restructuring the energy and water management consulting business.
The low capacity utilisation was primarily due to the large number of
new hires; demand remained stable in most sectors. The average number
of employees was 949 in the first half of 2012, 26 % up year-on-year,
while sales in this period rose by merely 6 %. Especially in Germany,
adesso invested in developing new units and fields such as business
intelligence and telecommunications and expanded existing units and
locations. Earnings before taxes (EBT) amounted to EUR -3.0 million
in the second quarter, primarily on account of the already reported
EUR 2.1 million impairment of the discontinued dynamic.suite product
family development. EBT in the first half of 2012 came to EUR -2.2
million (previous year: EUR 2.8 million).

In the second half of the year, sales revenues are expected to rise
further as well as earnings thanks to an improved capacity
utilisation and income from the restructuring of the energy and water
management business. In addition, two quarters of profitable ARITHNEA
GmbH, consolidated as from April, will be included in operating
earnings in the second half of the year. Planning for the second half
of the year expects sales revenues of EUR 58 to 60 million and an
again significantly higher EBITDA of EUR 3.0 to 3.7 million. Hence
the 2012 forecast is being reduced to EUR 114 to 116 million in sales
and EUR 4.4 to 5.1 million in EBITDA. Due to the impairment relating
to the dynamic.suite as well as ongoing depreciation and
amortisation, particularly on purchase price allocations, this will
be resulting in a slightly negative or balanced result in earnings
before taxes.

The complete Half-year Report, including final figures, will be
published on 28 August 2012.

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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issuer: 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, München, Hamburg, Düsseldorf, Stuttgart,
regulated dealing/general standard: Frankfurt
language: English