STOCKHOLM, Sweden, Jan. 30, 2003 (PRIMEZONE) -- NeoNet (Stockholm:NEO):
2002 in Summary
-- Transaction revenues amounted to SEK 184.7 m compared to SEK 190.1 m the previous year. Revenues from electronic trading increased by 10% to reach SEK 157 m totaling 85% (75%) of transaction revenues for the year. -- Trading on exchanges other than Stockholm Stock Exchange increased to 56% (51%) of the transaction revenues. Revenues from U.S. clients increased by 25%. -- The operating earnings before depreciation and net financial items amounted to SEK 0.4 m (23.3 m). The pre-tax loss was SEK -31.7 m (3.5 m). The year's results were negatively affected by realized and unrealized exchange rate losses of SEK -3.2 m (1.9 m) on funds tied up in foreign currencies. -- Measures to reduce costs by a net amount of at least SEK 25 m and to increase the cash flow by at least SEK 35 m on an annual basis were initiated during the third quarter. Implementation of the program of measures is not associated with any one-time costs. -- The consolidated shareholders' equity amounted to SEK 228.1 m (255.6 m) at the end of the period and the equity/assets ratio to 59% (31%). The Group's cash in hand, adjusted for items relating to the settlement of clients' equity transactions, amounted to SEK 164.5 m (193.1 m at the beginning of the year). -- Investments totaled SEK 36.9 m (36.0 m), which is equivalent to 20% (19%) of the transaction revenues. -- The number of new clients was high, especially in the U.K., the U.S. and the Nordic countries. -- A sales and representative office was opened in London. -- Trading started on the Nasdaq, the Milan Stock Exchange and the Brussels Stock Exchange. The Oslo Stock Exchange was also connected electronically to NeoNet's exchange network. The Fourth Quarter in Summary -- Revenues amounted to SEK 42.0 m compared to 53.2 m for the same period the previous year. -- The operating earnings before net financial items and depreciation amounted to SEK -0.9 m (3.2 m). The pre-tax loss was SEK -8.9 m compared to SEK -4.0 m the previous year. -- 54% of the fourth quarter revenues came from trading on exchanges other than Stockholm Stock Exchange. -- Agreements were entered into with Macgregor and Eze Castle to increase the distribution channels to leading institutions, primarily in the U.S. Additional information is available from: Torvald Bohlin, CEO Tel.: +46 (0)8 454 1539 torvald.bohlin@neonet.se Website: www.neonet.biz
Visit the Website to obtain additional financial information. The annual report for 2002 will be available on the Website from April.
Future financial reports:
Annual report for 2002, latest April 9, 2003 Annual General Meeting 2003, May 7, 2003 Interim report Q1 2003, May 7, 2003 Interim report Q2 2003, August 21, 2003 Interim report Q3 2003, October 23, 2003 Year-end report 2003, January 29, 2004 This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: www.waymaker.net/bitonline/2003/01/30/20030129BIT00920/wkr0001.doc Full-Report www.waymaker.net/bitonline/2003/01/30/20030129BIT00920/wkr0002.pdf Full-Report