DGAP-Adhoc: Integralis AG: Integralis expecting high non-recurring expense in the third quarter

Integralis AG / Quarter Results/Strategic Company Decision

07.10.2009 

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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On 07 October 2009, NTT Communications Deutschland GmbH ('NTT Com')
announced that it had acquired 75,19 percent of Integralis AG's shares. In
connection with the successful completion of the takeover bid, Integralis
will be reporting high non-recurring expense of around EUR 4.4 million in
the third quarter of 2009. This is due to the remeasurement of deferred tax
assets and payments in conjunction with the closing of the offer process.
Over the last two years, Integralis AG has recognized deferred tax assets
on existing unused tax losses in accordance with IFRS on the assumption
that these unused tax losses would probably be available for future use.
With NTT Com's entry into Integralis as a strategic partner and the
acquisition of more than 50% of its capital, all unused tax losses have
been extinguished under German tax law. This means that deferred tax assets
of EUR 3.1 million previously recognized must now be reversed in accordance
with IAS 12.
In addition, professional fees and salaries for consultants and management
staff at Integralis became due for payment upon the completion of the
takeover bid. The non-recurring expense recognized in the third quarter in
connection with NTT Com's takeover bid comes to around EUR 1.3 million and,
as stated in the interim financial report, is expected to total around EUR
2.0 million for the year as a whole.

Furthermore, the management board of Integralis had decided to discontinue
the company's activities in China, which will most likely result in an
additional loss of ca. EUR 2.2 million. In July 2008, the company has
started to build a bridgehead into China in conjunction with China Managed
Services (CMS) and to finance CMS's Chinese subsidiary until it reached the
break-even threshold. The plan had been for the CMS Chinese business to be
taken over under the terms of an asset deal in 2009 subject to the
achievement of revenue and profit targets. As the agreed goals have not
been achieved, the management board took the decision, to terminate the
existing contractual relationship and to call the loans granted.

The full interim report on the first nine months of 2009 will be published
on 10 November 2009 as planned.


Contact:
Integralis AG
Peter Banholzer (IR)
Tel:+49 89 945 73 178
peter.banholzer@integralis.com




07.10.2009  |[![CDATA[|[a href="http://www.dgap.de"|]Financial News transmitted by DGAP|[/a|]]]|]

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Language:     English
Company:      Integralis AG
              Robert-Bürkle-Str. 3
              85737 Ismaning
              Deutschland
Phone:        +49 (0)89 94573-178
Fax:          +49 (0)89 94573-180
E-mail:       ir@integralis.com
Internet:     www.integralis.com
ISIN:         DE0005155030
WKN:          515503
Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
              in Berlin, München, Düsseldorf, Stuttgart, Hamburg
 
End of News                                     DGAP News-Service
 
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