Ascom substantially reduced its Group loss in 2003. It expects to report a result in the range of CHF (65) to (75) million (2002: CHF 281 million) and revenues in the vicinity of CHF 1,500 million. Ascom managed to cut its net debt by over CHF 300 million in the course of 2003. Liquid assets as at 31 December 2003 exceeded the interest-bearing debt by around CHF 50 million.
Ascom expects a markedly lower Group loss of between CHF 65 and 75 million for 2003 in comparison with the year before (2002: CHF 281 million). The Group’s revenues are likely to be in the range of CHF 1,500 million, down from the year before owing primarily to divestments. Revenues in the core segments came to around CHF 1,000 million (2002: CHF 1,080 million). As a result of various positive measures and effects, liquid assets as at 31 December 2003 exceeded the interest-bearing debt by roughly CHF 50 million (net debt 2002: CHF 264 million) .The 2003 financial statements and the outlook for 2004 will be presented at the annual press conference on 23 March 2004.
About Ascom
Ascom is an international solution supplier with a comprehensive technology know-how. In the areas Transport Revenue (revenue collection and parking systems), Security Solutions (applications for security, communications, automation and control systems for infrastructure operators, public security institutions and the army), Network Integration (network solutions in the data/voice convergence market) and Wireless Solutions (high quality on-site communications solutions) with many years of experience in the execution of complex projects for demanding customers the company has established itself in important key markets. Ascom's offering covers analysis and consulting, system design and system integration, project management, engineering and implementation, and goes right through to maintenance and support. The company has subsidiaries in 23 countries and has a staff of about 5,000 employees worldwide. The Ascom registered shares (ASCN) are quoted on the SWX Swiss Exchange in Zurich.
