May 31, 2011

TELES: Q1/2011 - Results

Increase in consolidated loss after weak US sales

Adhoc Notification by TELES AG Informationstechnologien pursuant to Sect. 15 of the German Securities Trading Act (WpHG)

Berlin, May 31, 2011. Primarily as a result of weak business in the American market the Revenues in the first quarter of 2011 of 3.0 Mio€ decreased by 27% compared to the prior year period. Accordingly, the loss of TELES-group increased to 2.0 Mio€ whereas restructuring costs of 0.4 Mio€ are included.

The key data of TELES for Q1/2011 (in accordance with IFRS, unaudited) at a glance:

  • Revenues: 3.0 Mio€ (4.1 Mio€ in Q1/2010, -27%)
  • Contribution*: 1.8 Mio€ (2.7 Mio€ in Q1/2010, -33%)
  • EBITDA**: -1.6 Mio€ (-0.4 Mio€ in Q1/2010, n.a.)
  • EBIT**: -2.0 Mio€ (-0.7 Mio€ in Q1/2010, n.a.)
  • Equity Ratio: As already reported amongst others in the Annual Reports the majority shareholder waived the redemption of parts of his granted loans whereupon debtor warrants have been agreed. Subject to IFRS debtor warrants have to be evaluated. Insofar the loan waiver does not result in a corresponding higher Equity Ratio in the IFRS statements. Consolidated Statements according to HGB would show an Equity Ratio of about +55%. According to IFRS – in consideration of the debtor warrants – the ratio would amount to -1% (0% at the end of Q4/2010).

* Revenues after cost of material and cost for third-party services

** EBIT and EBITDA without expenditures of employee stock option plans.

You can find the entire Quarterly Report Q1/2011 at

Prof. Dr.-Ing. Sigram Schindler