Order backlog increases to a record level of EUR 98 millionEUR 1.7 million operating cash flow and 75 percent equity ratioEching nearby Munich, Germany, May 27th, 2003. Kontron AG has reached sales in the amountof EUR 55 million in the first quarter 2003 (previous year: EUR 46 million). In spite of the ongoing weakness in the world economy and the weakening of the US dollar against the Euro, order backlog has increased to EUR 98 million compared to EUR 94 million as of December 31, 2002. At the same time operational cost has been reduced again to EUR 19.2 million compared to EUR 21.7 million in the fourth quarter of 2002. EBITDA was recorded at EUR 3.6 million (previous year: EUR 3.4 million), EBIT at EUR 1.4 million (previous year: EUR 1.4 million) and net income at EUR 1.0 million (previous year: EUR 2.6 million). Compared to the total business year 2002 with EBIT of EUR 1.6 million and an entire profit of EUR 0.7 million, Kontron presents a significant increase of the earnings according to CEO Hannes Niederhauser. The liquidity situation of the Kontron Group also reflects gratifying developments.
Operating cash flow was recorded at EUR 1.7 million. With cash in hand of EUR 41 million indebtedness to banks could be reduced to EUR 25.7 million (EUR 28.6 as of December 31, 2002). The equity ratio was recorded at 75 percent of the balance sheet total of EUR 297 million. The target for the 2003 business year is a strong increase in operating results from EUR 1.6 million in the last business year to at least EUR 7 million in 2003.
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