IBM Deutschland Informationssysteme GmbH, the German unit of IBM Corp, yesterday reported its 1995 figures, showing net profit unchanged at the equivalent of $611m – but it was depressed by extraordinary one-time restructuring charges this time. Turnover fell by 5% to $8,758m. IBM Deutschland said the drop in sales could be mainly accounted for by two realignments: the transfer of IBM’s former semiconductor production to a joint venture [with Philips Electronics NV] and sale of its printed circuit board production operations. After adjustments for these two factors, IBM Deutschland said 1995 sales would have risen 2% to $8,079m. Chief financial officer, Hans-Jrgen Reitermann said that during 1995 the firm became more efficient…, improved its cost structure further and stabilised financially. For the first time in three years, IBM Deutschland expects to pay its parent an advance dividend of $340m and taxes on profits totalled about $475m for 1995, the officer said. Its 1994 profit went to pay back a loan made by the parent in Armonk, which had covered IBM Deutschland’s 1992 and 1993 losses.
