Liquid funds amounted to EUR 2.48 million at the end of Q1, corresponding to an increase of 12.82% in comparison with the value for 31.03.02. Cash flow from current business transactions was TEUR 840 (TEUR 259 in the previous year), a rise of 225% on the same period last year.

The order balance stood at EUR 14.35 million as of key date 31.03.03. This means that it was possible to increase the order balance by a further 2.2% compared with 31.12.02. The most significant growth was achieved in Austria and Germany. We succeeded in raising the order balance for the group by 5.1% in comparison with Q1-02.

Turnover of EUR 13.67 million and an EBITDA of TEUR 361 shows that the group has adhered to its planning; the group continues to regard the target predicted by analysts as achievable. This result includes the costs incurred in connection with the preparations for acquiring NSE Software. The EBIT of TEUR -186 was also negatively affected by the goodwill amortisation for beusen Solutions GmbH. In Germany, turnover increased by 4% to EUR 6.32 million in comparison with the result for the same quarter last year; the proportion of group turnover was 46.25%. In Italy, turnover for Q1 was EUR 3.78 million. This means that the Italian subsidiary achieved the second-largest contribution to group turnover, at 27.61%. Austria recorded a turnover of EUR 3.00 million, equating to a contribution to group turnover of around 21.97%. The other regions accounted for a 4.17% share.

The Professional Services business area achieved a clearly positive result, with turnover of EUR 12.41 million and an operating result of TEUR 295. This represented a quadrupling of the result as compared with Q4-02. With a turnover of EUR 1.27 million, the Communication Networks business area (which was known as Innovative Network Appliance last year until it was renamed following the acquisition and integration of beusen Solutions GmbH) achieved a much improved operating result over that of Q4 last year, although it remained negative at TEUR -80. Group costs of TEUR 402 are not included in the results of either business area. It was possible to reduce group costs by 18.7% compared with the same quarter last year.