EANS-Adhoc: JoWooD Productions Software AG exceeds internal planning in Q1 2009

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ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
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announcement.
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3-month report

29.05.2009

- JoWooD exceeds internal planning in Q1 2009 - Further
expansion of distribution structures in Eastern Europe and Russia is
being pushed, while simultaneously tightening existing core markets

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In EUR 000s

Q1 2009 | Q1 2008 |
Revenue 6.246 | 6.588 |
EBIT 835 | 1.037 |
Net profit 627 | 809 |

Equity ratio 62 %| 60%|
EBIT-margin 13,4%| 15,7%|
Profit-margin 10 %| 12,3%|

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The JoWooD Productions Software AG presents a successful first
quarterly result of FY 2009. Despite the unfavourable macro-economic
framework, corporate planning has been outperformed - especially with
regards to the net profit of the first quarter of FY 2009.

Revenue of the first quarter of FY 2009 amounts to EUR 6,24 million
(previous year: EUR 6,59 million). The reason for the slight decrease
in revenue was on the one hand the timeframe of the Easter business
in FY 2009 (previous year: first quarter), and the implementation of
further measurements regarding the distribution structure
(renunciation of indirect distribution and license businesses,
steering towards direct distribution business) in France and the
United Kingdom on the other hand. This strategic realignment
necessitated a deliberate containment of new releases on the part of
JoWooD Productions Software AG, in favour of the upcoming direct
distribution activities in aforementioned territories. In comparison
to both of these European core markets - their contribution totalled
less than in the previous year for the above mentioned reasons -, the
North American revenue-based contribution has been increased by upper
double-digit percentages. Main drivers of this revenue expansion were
distribution titles (console platforms), already signed in FY 2008.

EBIT of the first quarter 2009 amounts to TEUR 835 and is - in
accordance with corporate planning - slightly below last year´s
reference period (previous year: EUR 1,04 million). Again, the
reorganisation of abovementioned European core markets, as well as
the higher amount of Third Party products, (distribution titles) have
been decisive factors for this development. As opposed to publishing
titles, distribution titles generally entail higher license expenses,
at a lower investment risk at the same time. Defiant of this factor,
an EBIT-margin of 13,4% has been realised successfully.

The net profit of the first quarter of FY 2009 amounts to TEUR 627,
corresponding to a profit margin of approx. 10%.

Selected (scheduled) milestones for FY 2009:

- Foundation of the subsidiary "JoWooD CIS" based in Kiev, Ukraine.
The direct market penetration of Eastern European territories - or
cooperation with local partners, if necessary - will be the main
purpose of this entity. The funding of this next expansion step
ensues through a guaranteed loan by the AWS (Austrian Economy Service
- erp fund) within the scope of the "East-West" fund. Operational
business of the company is expected to start in the third quarter of
FY 2009.

- Completion of the project "Full-retail coverage Italy" in the third
quarter of FY 2009, with the objective of achieving a 80% coverage of
the Italian retail market.

- Intake of first revenue-effective direct distribution activities in
France and the United Kingdom per the end of the second / beginning
of third quarter 2009.

Based on the results of the first quarter of FY 2009, and on the
fundamental premise, that the further expansion proceeds as
scheduled, the overall economic situation does not negatively affect
industry growth in a lasting way, and projects in development will be
released in a timely manner, the management of the company hangs on
to its goal to achieve a growth of 15% in FY 2009.

The entire financial report will be put online and sent out during
the day.

end of announcement euro adhoc
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ots Originaltext: JoWooD Productions Software AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

JoWooD Productions Software AG

Dr. Albert Seidl, Vorstand

Mag. Philipp Brock, Investor Relations

Tel.: +43 (0)3612 2828

mailto:investor@jowood.com

http://www.jowood.com

Branche: Software
ISIN: AT0000747357
WKN: 935221
Index: WBI, ATX Prime, ViDX
Börsen: Berlin / free trade
Frankfurt / free trade
Stuttgart / free trade
München / free trade
Wien / official dealing