- 27.03.2007, 08:30:30
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- OTE0003
CORPORATE NEWS: Beta Systems Announces Audited Annual Results for FY 2006
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ots.CorporateNews transmitted by euro adhoc. The issuer is responsible for
the content of this announcement.
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Berlin, Germany. 27 March 2007 (euro adhoc) - ---------------------
- Revenue increases by 1.1% TO E 96.6 million in 2006
- Pre-tax loss of E -16.4 Mio. (2005: E -5.1 Mio.) and net loss of
E -18.4 Mio. (2005: E 1.6 Mio. incl. E 6.1 Mio. from disposal of business
unit) due to exceptional expenses (around E 12 million in FY 2006) as
anticipated clearly negative
- Cost reduction and growth in licenses in 2nd half-year: operating result (net
of extraordinary items) increased to E -3.6 million in FY 2006 (compared to
prior year at E -4.2 million)
Beta Systems Software AG (BSS, ISIN DE0005224406) recorded year-on-year revenue
growth of E 1.0 million, or 1.1%, in fiscal 2006. Its annual result is E -18.4
million (previous year: E 1.6 million ) and is characterized by extraordinary
items resulting from the sale of Kleindienst Scanner GmbH, a mid-year risk
reevaluation, and a one-time impact, throughout the enterprise, due to the
company's reorientation in the ECM and IdM segments. The company has undertaken
organizational resizing measures and is oriented towards marketing, sales, and
service. It has also completed a refocusing of activities on product range,
customers, industries, and regions. The effect of these measures is that the
second half-year has already shown a reduction of the operating cost basis
(fixed costs p.a.) of some 8%. The company's operating result, net of
extraordinary items, is E 0.6 million higher than in the prior year.
Having accounted for these non-recurring effects in the relevant separate
financial statements prepared in accordance with the German Commercial Code
(Handelsgesetzbuch - HGB), the parent company of the Group, Beta Systems
Software AG, recorded no net retained earnings ("Bilanzgewinn", also referred
to as unappropriated surplus) in fiscal 2006. As a result, there will be no
dividend payment for the 2006 fiscal year. However, both the Management Board
and the Supervisory Board remain committed to a dividend policy that is geared
to the future.
Outlook for Financial Year 2007
Due to the measures taken in the sales area, which resulted from the company
refocusing its corporate strategy, the Board expects a slight increase in
revenues for the financial year 2007. This will be accompanied by a
significant increase in software license and service revenues as well as a
reduction in the proportion of hardware in the overall revenues. Because of
the optimized cost structure, management currently expects the company to
become and stay profitable during the course of the year with a single-figure
EBIT margin for the financial year 2007.
Comments by the Management Board
Kamyar Niroumand, CEO of Beta Systems Software AG, issued the following
statement in response to the company's annual results: " Behind us lies an
eventful year and one that has brought us many changes. The first six months of
the fiscal year 2006 were dominated by the final implementation of our cost
reduction and consolidation measures. From July onwards we made significant
progress, particularly at an operational level and concluded a number of major
contracts with key financial customers such as Allianz, Postbank, or UniCredit
Group. We succeeded in reversing the downward trend in our licensing business -
our main engine for growth -, ending the year with a modest gain of
approximately 1% for the year.
Kamyar Niroumand added, "Our target now is to continue this positive trend and
to strengthen our maintenance-and service business by concluding new contracts
in the licensing- and solutions areas, particularly in the IdM and ECM business
segments. We have laid the foundation for a successful turnaround and have
created favorable conditions for growth. The goal which we have set ourselves
is for all three Lines of Business to operate profitably by 2008."
Further information regarding FY 2006
Online Annual Results Press Conference
The Management Board will comment on the results of fiscal 2006 as part of an
online annual results press conference to be held on March 27, 2007. The online
press conference will take place at 11:00 CET and will be broadcast live on the
internet at http://www.webpk.de/betasystems_270307 (to be held in German
language).
The complete annual report is available on www.betasystems.com - section
'Investor relations'.
About Beta Systems Software AG, Berlin, Germany
Beta Systems Software AG (Prime Standard: BSS, ISIN DE0005224406) develops high-
quality software products and solutions for the secure and efficient processing
of large quantities of data, and is one of the leading medium-sized, inde-
pendent, European software solution providers in its market segment. Its
software products and solutions sup-port customers in the automation,
safeguarding and traceability of their business processes within the three core
areas of document management (Enterprise Content Management business area),
user management (Identity Management business area) and information management
in data processing centres (Data Centre Infrastructure business area).
The company has been listed on the stock exchange since 1997, and currently
employs around 645 staff, mainly in the competence centres of Berlin (company
headquarters), Cologne, Augsburg and Calgary. In addi-tion to this, Beta
Systems is internationally active with 17 wholly-owned subsidiaries and
numerous partner companies. Among its worldwide total in excess of 1,300
customers with over 3,000 running installations are major businesses in the
fields of financial services, industry, commerce, logistics and IT services, in
Germany, Europe and the USA. For more information, please see
www.betasystems.com.
Further inquiry note:
|Corporate: |Local UK Media Contact: |
|Beta Systems Software AG |JGC PR |
|Arne Bassler |Jack Gocher |
|Tel.: +49 (0)30 726 118-170 |Phone: 0044-(0)1494 724113 |
|Fax: +49 (0)30 726 118-881 |Mobile: 0044-(0)7815 780931 |
|E-Mail: |Email: jack@jgc-pr.co.uk |
|arne.bassler@betasystems.com | |
end of announcement euro adhoc 27.03.2007 08:30:00
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emitter: Beta Systems Software AG
Alt Moabit 90d
D-10559 Berlin
phone: +49(0)30 726118 0
FAX: +49(0)30 726118 800
mail: info@betasystems.com
WWW: http://www.betasystems.com
ISIN: DE0005224406
indexes: CDAX, Prime All Share, Technologie All Share
stockmarkets: regulated dealing/prime standard: Frankfurter Wertpapierbörse,
free trade: Börse Berlin-Bremen, Hamburger Wertpapierbörse,
Baden-Württembergische Wertpapierbörse, Börse Düsseldorf,
Niedersächsische Börse zu Hannover
sector: Software
language: English
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