Plaut announces six months figures / Improved operating performance and stronger order backlog

Munich/Salzburg (PROTEXT/ots) - Plaut AG (Securities CodeNumber 918 703) announces today its six months figures for fiscal2001. In the first half of 2001, Plaut generated revenues of EUR150.6 million, an increase of 13.9% compared with the same periodlast year (EUR 132.2 million). In the second quarter alone, thecompany generated revenues of EUR 75.5 million, consistent withanalysts' expectations. This figure corresponds to a rise of 9.3%over the second quarter of the previous year (EUR 69.0 million). With orders in hand steadily rising, the company's currentbacklog has grown to approx. 90,000 consulting days, whichcorresponds to a volume of more than five months. Furthermore, weestimate our weighted pipeline of future business to be over200,000 consulting days. Earnings before interest, tax and amortisation (EBITA, beforerestructuring charges) in the second quarter improved to EUR 1.9million, after a loss in Q1 of EUR -0.2 million. EBITA wastherefore EUR 1.7 million in the first six months of 2001,compared to EUR 6.2 million in the same period last year. Thegroup loss after tax and restructuring charges (see below) forthe first half was EUR -5.6 million, or a loss of EUR -0.28 pershare, compared to a profit of EUR 3.8 million, or EUR 0.19 pershare, in the same period last year. In Q2, the net loss was EUR-2.3 million or 0.11 per share, compared to a profit of EUR 2.8million, or EUR 0.14 in the second quarter of 2000. On an EBITDAlevel, Plaut generated EUR 4.0 million in Q2 (EUR 5.7 million inthe first half), compared to EUR 7.0 (EUR 10.2 million,respectively) during the same period of last year. Plaut continued a number of initiatives started in the firstquarter in order to improve the operating performance of thecompany. These included cost reduction measures such as headcountdecreases, office closures, and reduction or freezing of non-personnel expenses as well as productivity improvements through asignificant increase in the group average utilisation rate ofconsultants. The cost reduction programme led to restructuringcharges in the second quarter of EUR 2.2 million, of which EUR1.2 million occurred in the Americas and the balance in Europe.As immediate effects of these programmes, profitability inPlaut's previously loss-generating operations in the UK andBrazil has been restored already within Q2. After a return tooperating profitability on group level in the second quarter,Plaut is confident that the measures taken in the last monthswill further improve its operating margins during the second halfof the year. Cash flow from continuing operations increased to EUR 7.6million in the second quarter compared to EUR -5.2 million in Q1.This equates to a cash flow of EUR 2.4 million for the first halfof 2001, which represents also an improvement over the sameperiod of last year with its cash outflow of EUR -7.4 million.This positive development is mainly due to an improved managementof the current receivables and, compared to the first quarter2001, an enhanced profitability of the company. Due to themeasures taken, Plaut expects a further reduction of itsreceivables in the second half of the year. Based on the strong backlog in the consulting business and themeasures that were implemented to improve profitability, Plautexpects to meet analysts' projections for the full year 2001 -even if overall economic conditions remain challenging. As of 30 June 2001, Plaut has 1,857 employees, 46 more than ayear ago. Compared to 2004 employees on 31 December 2000, thisrepresents a decrease of 7%. About Plaut AG Plaut AG is an independent, internationally operatingmanagement consulting group with a global presence of 34subsidiaries in 18 countries. As a full solution provideroffering a suite of services from strategy consulting to IT-outsourcing, and with sales revenues amounting to EUR 291 million(in 2000), it is one of the leading management consultingcompanies worldwide. Since November 9, 1999, Plaut AG is listedon the "Neuer Market" of the Frankfurt stock exchange (PUTG.F;Securities Code Number 918 703). You can receive the complete half-year report and furtherinformation about the Plaut-group under www.plaut.de/ir or at: Plaut Aktiengesellschaft At a Glance PLAUT: A HALF-YEAR COMPARISON AS OF JUNE 30

June 30, 2001

June 30, 2000

in EUR '000

in EUR '00 Income Data Revenues

150,579

132,201 Growth in revenues in % compared to previous year

14

12 Financial data Investments

4,209

23,313 Depreciation and amortization

4,026

4,000 Result data EBITA

1,667

6,247 EBIT

- 68

5,222 Group loss after tax and restructuring charges

- 5,626

3,789 Cash flow from operating activities

2,377

- 7,383 Balance sheet data Sharholders' equity

64,927

61,045 Capital ratioin %

29.8

34.9 Total assets

217,636

174.839 Earning/loss per sharein Euro

- 0.28

0.19 Employees Half-year-end

1,857

1,811

ots Original Text Service: Plaut AG Internet:http://www.presseportal.de

Beratungsgruppe Plaut Sven Kielgas Moserstrasse 33A A-5020Salzburg Tel. +49 (0)89 96280-204 Fax +49 (0)89 96280-282sven.kielgas@plaut.de

Kirchhoff Consult AG Frank Schwarz Savignystraße 18 D-60325Frankfurt Tel: +49 (0)69 7474 86 0 Fax: +49 (0)69 7474 86 20Frank.Schwarz@kirchhoff.de

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