TELES Informationstechnologien : Half-yearly Financial Statements 2021

Half-yearly Financial Statements 2021 of TELES AG Informationstechnologien

(HGB, unaudited)

Key figures from January 1, 2021 to June 30, 2021

• Sales increase by 24% compared to the previous quarter
• Cash flow increases by 84% compared to the previous year
• Reduction of other operating expenses by 22%
• Net loss for the period of EUR 96 thousand

Overview of the key figures of TELES for the first six months of 2021 (in accordance with HGB, unaudited)

TELES AG Informationstechnologien	01.01.2020 -	01.01.2021 -	Change
(in Euro)	30.06.2020	30.06.2021
Sales revenues	1,470,767	1,303,782	-11%
Other operating income	189,365	101,567	-46%
Personnel expenditures	861,678	787,182	-9%
Other operating expenses	499,651	392,135	-22%
Operating result/EBIT	-660	-94,496	> -500%
Net income/loss	-9,400	-95,643	> -500%

TELES AG Informationstechnologien	01.01.2021 -	01.04.2021 -	Change
(in Euro)	31.03.2021	30.06.2021
Sales revenues	580,767	723,016	24%
Other operating income	42,569	58,997	39%
Personnel expenditures	398,253	388,929	-2%
Other operating expenses	198,550	193,585	-3%
Operating result/EBIT	-97,173	2,677	103%
Net income/loss	-98,609	2,966	103%

© TELES AG Informationstechnologien
	Seite 1 von 7
July 2021

Interim Management Report

The second quarter went significantly better than the start of the year. It was possible to increase sales by 24% compared to the previous quarter. The orders from Commu- ni5 Technologies, Vienna, and the implementation of a second softswitch location in Angola by our Swiss partner mgi should be emphasized. We were able to supply our customers in Germany with additional software for the requirements of the regulator for TR emergency calls. We were also able to secure and expand the maintenance business with existing customers. The further development of the product families and the development of suitable solutions and products are still in focus, e.g. the expansion of the TELES softswitch to enable software-based recoding in customer networks (transcoding). That will bring further growth. In the third quarter, the marketing and communication activities will be further expanded in order to further position TELES on the market and to anchor it with customers as a competent, efficient and future-proof provider.

Summary Statement of the Economic Situation

At EUR 1,304 thousand, sales decreased by 11% from EUR 1,471 thousand in the reporting period. The cost of materials ratio increased to 24.0% (previous year: 19.6%). The income from subletting and charging on from agency agreements amounts to EUR 80 thousand (previous year: EUR 76 thousand, reported as other operating in- come). The other operating income is EUR 102 thousand (previous year: EUR 189 thousand). Personnel expenses were reduced by 9% to EUR 787 thousand (previous year: EUR 862 thousand). The other operating expenses were reduced by 22% to EUR 392 thousand (previous year: EUR 500 thousand). In the half-year financial statements of TELES, the period deficit amounts to EUR 96 thousand (previous year period deficit: EUR 9 thousand). The total assets of TELES increased by EUR 89 thousand compared to the annual financial statements. The operative cash flow amounts to KEUR -97 (previous year KEUR -598) and has developed well. The company is able to meet its financial obligations at all times.

© TELES AG Informationstechnologien
	Seite 2 von 7
July 2021

Risk Report

In the management report for the past financial year 2020, all relevant risks known to us were carefully listed. TELES is currently recognizing a heightened risk situation due to the corona pandemic. 100% of the TELES workforce is equipped with home work- places. We ensure the liquidity of the company through very conscientious planning. We continue to monitor incoming payments very closely, thereby counteracting payment defaults on the part of customers. Apart from internal company factors, whether the sales and earnings targets are achieved depends largely on economic, political and industry-specific developments - especially in our core market of Europe.

Forecast

For the current financial year, the Management Board is sticking to the forecast for the full year made in the 2020 annual report. Accordingly, in 2021, compared to the previous year, total sales growth of between 10% and 15% and a positive result (EBIT) are expected for the company, which, however, will be lower than in 2020 due to the lack of special effects such as loan waivers.

TELES AG Informationstechnologien

The Management Board

July 2021

© TELES AG Informationstechnologien
	Seite 3 von 7
July 2021

Balance Sheet June 30, 2021 (HGB, unaudited)

TELES Aktiengesellschaft Informationstechnologien, Berlin balance sheet as of March 31, 2021

Assets				30.06.2021	31.12.2020	Liabilities			30.06.2021	31.12.2020
				EUR		EUR		EUR					EUR		EUR		EUR
A.	Fixed assets						A.	Shareholders' equity
	I.	intangable assets							I.	Ordinary shares	4,369,626.00			4,369,626.00
		Concessions, patents, licences, trade marks and similar rights and assets	0.00			0.00		II.	Capital reserve	349,570.08			349,570.08
	II.	Tangible assets							III.	Revenue reserves
		Fixtures, fittings, tools and equipment	45,308.00			42,430.00			1.	loss carried forward	-4,705,894.13			-5,530,405.78
											2.	net income/loss for the period	-95,643.07				824,511.65
					45,308.00	42,430.00					-4,801,537.20			-4,705,894.13
B.	Current assets							IV. not covered by equity	82,341.12			0.00
	I.	Stocks											0.00	13,301.95
		1.	Raw materials and supplies	2,427.12			2,419.30	B.	Provisions
		2.	Finished goods and goods for resale	5,736.86			0.00		1.	Tax Other provisions	624,797.08			624,797.08
				8,163.98			2,419.30		2.	Other provisions	163,115.14			116,949.42
											787,912.22	741,746.50

1. Debtors and other assets

1.	Trade debtors	351,810.55		276,972.33		C.	Creditors
2.	Other assets	69,043.42		67,348.98			1.	Payment received on account	17,960.44		27,679.39
							2.	Trade creditors	167,190.10		234,435.37
							3.	Other creditors including taxation and social security	53,078.70		47,676.01
		420,853.97		344,321.31				-	of which EUR 14.694,22 (py kEUR 9) is for taxes
III.	Cheque, Cash at bank and in hand	643,757.61		751,551.56				-	of which EUR -1.788,87 (py kEUR -3) is for social security
						238,229.24	309,790.77
		1,072,775.56	1,098,292.17		D.	Deferred income	239,769.49	111,773.22
C.	Prepayments and accrued income	65,486.27	35,890.27
D.	Not covered by equity loss	82,341.12	0.00
		1,265,910.95	1,176,612.44						1,265,910.95	1,176,612.44

Profit and Loss Account June 30, 2021 (HGB, unaudited)

TELES Aktiengesellschaft Informationstechnologien, Berlin

Profit and Loss Account for January 01 - June 30, 2021 (not audited)

			31.03.2021	31.03.2020
		EUR	EUR		kEUR
1.	Turnover	1,303,782.18		1,471
2.	Other operating income	101,566.53		189
	of which relates to currency translation EUR 1,706.96 (Vj. kEUR 3)
			1,405,348.71	1,660

3. Cost of materials

1. Cost of raw materials, consumables

		and of purchased merchandise	188,382.57			195
	b) Cost of purchased services	124,468.26			94
4.	Staff costs
	a)	Wages and salaries	684,500.99			732
	b)	Social security,
		pensions and other benefit costs	102,681.05			130
		of which EUR 2,790.00 (Vj. kEUR 3) is for pension costs
5.	Depreciation
	written off tangible and intangible fixed assets	7,676.90			11
6.	Other operating expenses/charges	392,134.83			500
	of wich relate to curreny translation EUR 3,382,73 (Vj. kEUR 7)
			1,499,844.60	1,661
7.	Operating result (EBIT)	-94,495.89	-1
8.	Other interest receivable and similar income	157.31			-1
9.	Interest payable and similar charges	145.00			11
			12.31	10
10.	Tax on profit	41.49			-2
11.	Profit or loss after taxes	-94,525.07	-8
14.	Other taxes	1,118.00				2
15.	Profit or loss for the financial year		-95,643.07		-9
16.	Loss carryforward		-4,705,894.13		-27,961
17.	Income from the capital reduction	0.00	22,431
17.	Balance sheet loss		-4,801,537.20		-5,540

© TELES AG Informationstechnologien
	Seite 5 von 7
July 2021