Excerpt from the current half year report

Like other companies, the CREALOGIX Group was affected by the consequences of the financial crisis in the first half of the financial year 2011/2012 (1.7. to 31.12.2011) and, by comparison with the first half of  2010/2011, experienced a 10 per cent downturn in sales caused by the prevailing economic situation and the weak euro. As a result, both the EBIT and net profit fell short of the corresponding values for the same period in the previous year. At the end of July 2011, the acquisition of the e-banking business of Cordys Deutschland AG – known under the Abaxx brand – enabled us to consolidate and extend our presence on the German market. We continued to focus more intensively on the financial industry.

In the first half, CREALOGIX made further investments in product development in all its business units, so making us perfectly fit for the future requirements of banks tomorrow under the ‘Bank 2.0’ designation. For the second half (1.1. to 30.6.2012), assuming that the economic and political situation remains unchanged, we are expecting a trend in line with the first half for both sales and profitability.