HELSINKI, Finland, Aug. 12, 2004 (PRIMEZONE) -- Proha Plc:
THE INTERIM REPORT OF PROHA PLC FOR JANUARY 1 - JUNE 30, 2004
- The Proha Group's net sales for the period January 1 - June 30, 2004 were EUR 33.9 million (EUR 40.2 million for January 1 - June 30, 2003).
- Earnings before interest, taxes and amortization (EBITA) totalled EUR -2.9 million (EUR -2.0 million).
- The result includes EUR 1.2 (0.7) million of non-recurring reorganization charges.
- In the second quarter net sales EUR 17.0 million (EUR 16.9 million January 1 - March 31, 2004) and result (EBITA) EUR -0.8 (-2.1) million improved slightly compared to the first quarter.
- The sales of investment planning and control solution based Artemis 7 portfolio and project management software increased substantially and already account for almost half of all new licenses sold.
- The balance sheet of the Group was strengthened, as Norwegian Dovre became Proha's fully-owned subsidiary and Proha's subgroup Artemis acquired a total of USD 9 million through equity finance. After the transaction, Proha's ownership of Artemis reduced from 80% to 57%.
- Profitability improved less than expected and the Group's main focus still lies in improving it. The net sales of 2004 are expected to be below the previous year. Business operations are expected to turn profitable in the last quarter of the year at the latest.
For more information please contact: PROHA PLC CEO Pekka Pere, tel. +358-(0)20 4362 000 pekka.pere@proha.com www.proha.com
DISTRIBUTION: Helsinki Stock Exchange Major Media
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http://www.waymaker.net/bitonline/2004/08/12/20040812BIT00070/wkr0001.pdf
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