november AG continues upswing / publication of consolidated results 1st quarter 2010

– reduction of liabilities 3 Mio. EUR
– restructuring of remaining loan portfolio into predominantly long-term titles
– stable liquidity
– another significant equity increase by TEUR 2.522
– consolidated sales revenues on schedule
– consolidated break-even result

January 2010, the november AG succeeded in negotiating additional loan reductions. Thereby, major shareholders waive a total of TEUR 2.197 loan repayments. The remaining loan liabilities were restructured into long-term deferment, long-term repayment or partial payments on the basis of a long-term payment plan. Thus, a considerable reduction of liabilities totalling TEUR 2.956 was achieved as compared to the previous year.

At balance sheet date March 31, 2010 the november group shows a liquidity of TEUR 685, despite considerable loan repayments in the amount of TEUR 614. This is an improvement  over last year´s liquidity.

Equity improved enormously by TEUR 2.522, primarily due to loan waivers of major shareholders and a capital increase.

The consolidated break-even results would have been even higher by TEUR 100 if it were not for consultancy fees for the evaluation of compensation claims and analysis of company acquisitions as well as costs involved with the capital increase.

For further information, we refer to our 1st quarter 2010 report, published on our homepage under reports.