WERBAS AG: Consolidation Continues with Great Success


BOBLINGEN, Germany, Aug. 1, 2001 (PRIMEZONE) -- WERBAS AG has been able to continue its consolidation successfully and consistently. At the end of June, results were presented, showing a 730,000 mark improvement over the previous year. For the first time, more than 100 new customers were gained in a single month.

In mid-2000, the software manufacturer and service provider for the automobile sector still had to report a deficit of 1.061 million marks. By the end of June 2001, this was reduced by 70 percent to 327,000 marks. This did not yet take into account the turnover from 100 new contracts concluded in June 2001 alone. In the words of the Chairman of the Board, Peter P. Reimann, June was thus the most successful month in the entire history of the company. As the turnover is taken into account only after invoicing, the resulting profits will only affect the results in the third quarter.

Whereas the turnover for hardware, which the company wanted to restrict, decreased by 189,000 marks to 332,695 marks compared to the previous year, it was able to increase the more profitable service and software business by 180,000 marks to 6.040 million marks. The costs for material and licences were approximately the same as the previous year. The operating costs dropped by 30.5 percent, i.e. 507,000 marks. Personnel costs were reduced by 157,000 marks to 3.805 million marks. The employees still number approximately 75. The reduction of the cash assets to 3.4 million marks is attributable to the founding of the Chinese joint venture, participation in various firms, as well as the new building. WERBAS AG continues to present itself as a debt-free company.

Just before the end of the quarter, WERBAS AG signed a far-reaching contract with Daewoo Deutschland GmbH. The contract provides for all 240 German Daewoo dealers converting their software to WERBAS by the end of 2001. Not only the installations in the dealerships are to be converted to WERBAS, but also the entire connections to Daewoo Germany. The resultant profits will affect the results in the second half of the year.



            

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