Graphisoft's preliminary annual results show 25% top line growth; operating profit unchanged
Budapest, January 4, 2001 - The annual sales revenue of the Graphisoft Group is expected to exceed 1999 revenues by about 25%, at approximately 32 M EUR. Due to a smaller than usual sales boost in December, the revenue increase offset the higher than planned cost of integrating new acquisitions but could not yield a growth in operating profit. The operating profit is expected to be about 4.7 M EUR, the same as last year's figure.
Graphisoft management has reviewed the Group's minority participations (each in the range of 5-10%), and determined that the main strategic goals have been met. However, when considering financial records, a revaluation was deemed necessary among these investments, resulting in an extraordinary financial loss of about 900 thousand EUR. So in contrast to last years' results, the net income in 2000 will not exceed the operating income, and the expected earnings per share will be about 0.45 EUR. During previous years, the net income of the Group was substantially and positively influenced by the foreign exchange gain caused by the depreciation of the HUF and the appreciation of the USD. As Graphisoft noted in previous financial reports, this gain is not expected to be realized in the future. Therefore, net income is expected to be in line with operating profit.
For 2001, the Group plans 20-25% top line growth and 30% increase in its operating profit, as previously announced.
Graphisoft management will hold a telephone conference regarding this statement at 2pm CET, January 5 for its investors and analysts. To participate, please call: 00 49 69 27113 800; code: 21533#