According to the 2005 business report, the BRAIN FORCE Group has achieved the following result as certified by the auditor:

In million euros	01.01.2005-31.12.2005	01.01.2004-31.12.2004	Change in percent
Turnover	76.62	64.42	18.9
EBITDA	6.05	4.13	46.5
EBIT	3.58	2.39	49.8
Net result for the period	3.13	2.03	54.2
EPS	0.30	0.21	42.9

The final figures thus slightly exceed the preliminary reported results.

The present figures confirm the best annual result in the company's history. The EBITDA margin reached 7.9 percent in 2005 (6.4 percent in the previous year); the EBIT margin was 4.7 percent (3.7 percent in the previous year).

The results according to divisions are as follows:

The Enterprise Services (ES) division achieved a turnover of EUR 32.49 million in 2005 (EUR 32.92 million in the previous year). As a result, turnover decreased slightly by 1.3 percent in comparison with the previous year. The decrease was more than compensated by a rise in the EBIT margin from 3.9 percent in 2004 to 5.1 percent in 2005. The improvement in the margin led to an increase in the divisional EBIT by 28.2 percent from EUR 1.30 million to EUR 1.66 million in the 2005 business year. With its share of 42.4 percent (previous year: 51.1 percent), this division is the one with highest turnover within the BRAIN FORCE Group.

The Business Solutions (BS) division generated a turnover of EUR 23.00 million in 2005 (previous year: EUR 17.82 million). The 29.1-percent rise in turnover was caused only to a minor extent by the acquisition of Indis S.p.A. Even without considering the share in the turnover allocated to this company, the growth in turnover was 17.5 percent. The share of the BS division in the consolidated turnover amounted to 30.0 percent (previous year: 27.7 percent).

At an EBIT margin of 9.0 percent (previous year: 8.9 percent), which was virtually unchanged as compared with the previous year, the divisional EBIT rose from EUR 1.59 million in 2004 to EUR 2.07 million in 2005.

The share of the Technology and Infrastructure (TI) division in the turnover was 27.6 percent (previous year: 21.2 percent) of the consolidated turnover in the 2005 business year. The TI division reached a turnover of EUR 21.12 million (previous year: EUR 13.68 million) at a divisional EBIT of EUR 1.87 million (previous year: EUR 965 thousand). The EBIT margin improved considerably in comparison with the previous year (7.1 percent) and is close to 8.9 percent for the entire year of 2005.

The group costs, which were not contained in the results of the three business divisions, rose by 38.0 percent to EUR 2.02 million (previous year EUR 1.46 million). The increased expenses for controlling the group were caused by increased requirements arising from conducted and pending company purchases. The increase in the costs however was clearly below the increase in the result of the entire group.

The results confirm the integrative power of the BRAIN FORCE Group and its ability, despite strongly rising turnover, to achieve the announced growth in margins. The financing of the next steps in the expansion is secured from funds from the ongoing increase in capital.

The BRAIN FORCE Group had funds and marketable securities at its disposal as at 31 December 2005 in the amount of EUR 11.79 million (31 December 2004: EUR 18.49 million).