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29.07.2010 | 22:28 Uhr
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ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro
adhoc with the aim of a Europe-wide distribution. The issuer is solely
responsible for the content of this announcement.
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6-month report
29.07.2010
Berlin, July 29, 2010 - Beta Systems Software AG (BSS, ISIN
DE0005224406) achieved a result of EUR 2.2 million after taxes in the
first half of 2010. A significant effect was the EUR 4.9 million
disposal gain (before taxes) arising from the sale of the ECM
business, which more than compensated for the negative result from
the continued operations of EUR -1.4 million (after taxes), which
reflected seasonal fluctuations.
Special effects arising from the sale of the ECM business in Q1-Q2/2010
Sale of net assets of EUR 10.9 million
Disposal gain of EUR 4.9 million (before taxes)
Sundry income of EUR 0.6 million
Assets of EUR 21.0 million (status as of May 31, 2010), which were
allocated to the ECM segment, were sold as a result of the disposal.
These were offset by liabilities of EUR 10.1 million connected with
these assets (status as of May 31, 2010). A EUR 4.9 million disposal
gain (before taxes) was incurred in the first half-year as part of
the realization of all purchase price components that are not
dependent on the occurrence of certain conditions. At the same time,
sundry income of EUR 0.6 million was achieved as part of the
transfer-related rendering of administrative services (including
accounting, reporting, staff administration, and IT services) for the
company Beta Systems ECM Solutions GmbH that was sold.
Operating trends in the continued business lines in Q1-Q2/2010
(DCI/IdM)
Moderate business progress with delays to important major projects in
the continued infrastructure software business (following major orders in the
prior-year period)
Significant operating expense cost-savings of more than EUR 2.0 million
Operating cash flow grows by EUR 1.4 million to EUR 7.9 million
(Q1-Q2/2009: EUR 6.5 million)
Operating profit (EBIT) falls to EUR -1.8 million (Q1-Q2/2009: EUR -0.3
million)
It proved impossible to fully repeat last year's extraordinarily good
sales performance in the continued infrastructure software business
(DCI/IdM lines of business) in the first half of 2010 due to
reticence on the part of some customers, or delayed decisions
relating to major projects. Consequently, revenue declined to EUR
20.7 million (Q1-Q2 2009: EUR 25.1 million).
Despite significant operating expense cost-savings of more than EUR
2.0 million, operating profit (EBIT) of EUR -1.8 million fell to
below last year's level (EUR -0.3 million). At the same time,
however, operating cash flow, which comprises an important key
indicator, was again raised, by EUR 1.4 million to EUR 7.9 million.
Therefore, the company's financial position was significantly
improved compared to the end of 2009 through a EUR 9.3 million
reduction in short-term loans.
Q3-Q4/2010 outlook Management Board adjusts forecast for
continued business operations
The statements concerning the outlook for revenue and the result that
were made at the start of the year have been reformulated for the
ongoing business operations, although excluding one-off effects. As a
consequence, the management currently anticipates a revenue level of
around EUR 50 million in the DCI and IdM lines of business (2009:
around EUR 52 million), and an EBIT margin in the mid-single-digit
percentage range as part of cost-reductions (2009: around 4%).
Many key customers are currently continuing to critically scrutinize
their major IT investments, and experience suggests that they will
fail to place major project orders before the end of the year. The
conclusion of significant contracts in the infrastructure business is
consequently not anticipated until the fourth quarter. This is
resulting in a shift in the timing of breakeven over the course of
the year, and the dependency of the consolidated net result on these
year-end license revenues is rising.
There is also additional positive earnings potential in the second
half of 2010 arising from additional purchase price components for
ECM of up to EUR 2.0 million, which are connected with the occurrence
of certain conditions.
At the same time, and following an initial analysis, the Management
Board anticipates one-off expenses of up to EUR 5.0 million for the
second half of 2010 for the restructuring and re-positioning of the
business.
end of ad-hoc-announcement
================================================================================
Information and explanations on this ad-hoc release by the issuer:
Management Board comments
Jürgen Herbott, Chief Executive Officer of Beta Systems Software AG
commented as follows: "The 'buy & build strategy' that we have opted
for in the infrastructure business is working well, and proving
correct. It nevertheless presupposes a fundamentally re-positioned
and significantly profitable Beta Systems. To this end, and following
the ECM sale, we must review, and, if required, optimize structures
and processes. We will conduct the necessary conversations with the
new Supervisory Board following the Annual General Meeting of
Shareholders, and launch the requisite measures by the year-end."
"We have fundamentally and sustainably improved our financing and net
asset positions through the ECM sale, and through stronger cash
management in the continued business operations. This not only
signifies a solid basis for our forthcoming re-positioning, but also
creates the financial scope to exploit smaller acquisition
opportunities as part of our 'buy & build' strategy," added Chief
Financial Officer Gernot Sagl.
Complete report The full Report on the first six months of 2010 will
be released on August 3, 2010 and posted on the company's website at
http://www.betasystems.com under the heading Investor
Relations/Financial Reports.
Disclaimer All amounts cited in this information by the Company and
information derived therefrom (e.g. percentage figures) are figures
fully rounded up to thousands of euros as presented in the summarized
Consolidated Financial Statements as at June 30, 2010.
End of information and explanations Beta Systems Software AG Beta
Systems Software AG (Prime Standard: BSS, ISIN DE0005224406) offers
large corporations high-end infrastructure software which spans
sectors. This software enhances the performance of a company's IT in
terms of its availability, scalability and flexibility. Data centers
optimize their job and output management. Moreover, especially
companies with high numbers of users are supported in the automation
of their IT user administration. Improved security also serves to
fulfill the requirements placed on business operations in respect of
governance, risk management and compliance (GRC).
Beta Systems was founded in 1983, has been a listed company since
1997, and has a workforce of around 350 employees. The company's
principal place of business is Berlin. Beta Systems operates through
Centers of Competence in Cologne and Calgary, as well as 18
subsidiaries worldwide and cooperations with numerous partner
companies. Throughout the world more than 1,300 customers use the
products and solutions of Beta Systems to improve their processes and
security in more than 3,200 running installations. At present, Beta
Systems generates 50 percent of its sales from international
business. Around 200 of its customers are based in the USA and
Canada. More information on the company and its products can be found
under www.betasystems.com.
end of announcement euro adhoc
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ots Originaltext: Beta Systems Software AG
Im Internet recherchierbar: http://www.presseportal.de
Further inquiry note:
Press contacts
Company contact:
Beta Systems Software AG
Stefanie Frey
Senior Manager Investor Relations
Tel.: +49 (0)30 726 118-171
Fax: +49 (0)30 726 118-800
e-mail: stefanie.frey@betasystems.com
Agency contact:
HBI PR&MarCom GmbH
Alexandra Osmani,
Alexandra Janetzko
Tel.: +49 (0)89 99 38 87-37/-32
Fax: +49 (0)89 930 24 45
e-mail: alexandra_osmani@hbi.de
e-mail: alexandra_janetzko@hbi.de
Branche: Software
ISIN: DE0005224406
WKN: 522440
Index: CDAX, Prime All Share, Technology All Share
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Hamburg / free trade
Stuttgart / free trade
Düsseldorf / free trade
Quelle: http://www.presseportal.de/
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