In the first six months of the current 2000/2001 fiscal year (April 1 to September 30), caatoosee ag, a specialist for information logistics and data networking, exhibited dynamic sales growth of 296%, reaching sales of DM 10.6 million (same period of the previous year: DM 2.7 million). This increase in sales is due to the successful completion of several large-scale projects in its core business as well as the smooth integration of the acquisitions made in the first half of the year. In comparison to the first quarter of the reporting period, second-quarter sales increased by 39% to DM 6.2 million.
The strong sales growth was due, in particular, to the growing demand for caatoosee ag's platform solutions and the successful implementation of its business model. Examples include implementing platform technology for O-Rai GmbH, a member of the Bertelsmann Group, constructing an online platform for db business-direct, the Internet portal of Deutsche Bank AG, and the project commencement of a platform solution for Datev eG.
In the first six months of fiscal year 2000/2001, the Group had EBITDA of DM -2.5 million. Taking into account write-offs of DM 2.1 million (of which DM 1.6 million was goodwill amortization) resulted in EBIT of DM -4.6 million. This loss was compensated for especially by income from securities. Thus, caatoosee ag had earnings before taxes (EBT) of DM 0.6 million and a net result for the period of DM 0.2 million. This resulted in earnings per share of EUR 0.0l.
The earnings situation was influenced in particular by increased costs for the planned strong build-up in personnel. For example, the number of production employees compared to the previous year increased from 31 to 120, principally at the Prague, Zagreb and Temeswar (Romania) locations. In addition, caatoosee significantly expanded its sales and marketing division. As of the September 30, 2000 reporting date, the caatoosee Group as a whole employed 237 full-time workers.
In the second half of the fiscalyear, caatoosee ag will further optimize its strategic orientation and integrate the product and service portfolio of the Group company-wide. The Company expects to be able to continue and increase its positive sales growth and reach the sales and earnings targets it has set.