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Datalogic: board of directors approves year-end financial statements for FY2003.


Bologna, 27th February 2004 - Consolidated net profit of € 7.18 million (mn) (+33.9% vs. € 5.36 mn as at 31/12/2002) and consolidated revenues of € 131.5 mn, growing by 11.4% YoY (vs. € 118 mn as at 31/12/2002)
Distribution proposed of a dividend of € 0.18 per share, payable as from April 29th 2004

Criteria for admission to Borsa Italiana's new TechSTAR segment amply met.

Consolidated net profit of € 7.18 mn (+33.9% vs. € 5.36 mn as at 31/12/2002) and consolidated revenues of € 131.5 mn (+11.4% vs. € 118 mn as at 31/12/2002).

Profitability improves: EBITDA of € 21.3 mn (+25.5% vs. € 16.97 mn as at 31/12/2002) and EBIT of € 11,03 mn up by +40.4% vs. € 7.86 mn as at 31/12/2002.

These, in summary, are the data approved today by the Board of Directors of Datalogic SpA, which met today to review and approved year-end financial statements for FY2003.

Datalogic - the largest European manufacturer of barcode readers and portable data collection & transmission devices, and also active in the production of RFID (radio frequency identification) systems - ended 2003 with particularly positive results, showing significant growth over the previous financial year.

The brilliant performance achieved by the group in 2003 - despite a less than favourable economic environment - is particularly remarkable if one considers that the 20% depreciation of the US dollar (our main billing currency other than the euro) against the euro had an adverse impact on both sales and net profit.

At the shareholder meeting, convened for April 22nd 2004, the Board of Directors will propose distribution of a dividend of € 0.18 per ordinary share, with coupon detachment on April 26th and payment as from April 29th 2004.

Going into the merit of results, sales grew significantly in the sectors of optical readers - with sales of € 112.39 mn (+14.6% vs. € 98,07 mn in FY2002) and services (sales +36% to € 4.21 mn).

An appreciable contribution to group growth came from the positive impact of the Swedish subsidiary Datalogic AB (ex Minec) - acquired in July 2002 and consolidated on a line-by-line basis as from 2003 - which delivered revenues of € 2.6 mn.

As regards individual geographical areas, the European market grew particularly strongly (+20% vs. 2002) thanks to the sparkling results achieved in Germany (+23%) and in the Iberian Peninsula (+42%) - markets firmly covered by Datalogic and steadily strengthened in 2003.

Results were also in good in the UK, France, Scandinavia and Australia, whilst in the USA the increase in dollar sales achieved for all product ranges was dampened by the exchange-rate effect.

The net financial position as at December 31st 2003 showed net cash of € 39.55 mn, improving vs. € 33.42 mn as at September 30th 2003.

Datalogic's results meet the criterion of "sustainable growth" underlying Borsa Italiana's new TechSTAR segment. More specifically, besides qualitative criteria, Datalogic fully meets the alternative P&L and financial criteria set for admission to TechSTAR.

TechSTAR Alternative conditions for admission: EBITDA Positive and growing by at least € 1 mn vs. the previous year or two years; NFP/EBITDA ratio Less than or equal to 6. Datalogic Responses: EBITDA Positive with an increase of € 3.28 mn in 2003 vs. 2002;
NFP/EBITDA:Net Financial Position is positive.

(EBITDA and NFP calculated as per Borsa Italiana instructions)

"Datalogic has succeeded in ending 2003 with major results - stated Roberto Tunioli, the company's CEO - and with particularly significant growth of consolidated net profit and profitability".

"Results benefited from the group's organic growth - continued Tunioli - and from its strong ability to invest in new technological solutions, helping to strengthen our European leadership in the sector"