EANS-Information of Significance: phion AG / phion AG, listed on Vienna Stock Exchange, publishes results of financial year 2009/10
Information Of Significance transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement.
18.06.2010
- Due to a difficult market situation, EBITDA is -2.34 million Euros
- Restructuration in the web application security area leads to high non-scheduled depreciation with a strong impact on EBIT
- Barracuda Networks plans to strengthen the position of Innsbruck and to make additional investments
IT security specialist phion - the majority of which was acquired by US group Barracuda Networks - was partly affected by reluctance of medium and large companies to invest in IT security. Thus EBITDA decreased from -1.16 million Euros in the previous year to -2.34 million Euros during the (short) financial year 2009/10 (1 March 2009 to 28 February 2010) due to the economic crisis, as announced by the company listed on the mid market segment (Third Market) of Vienna Stock Exchange (AT0000PHION3) on 18 June 2010.
Operating profit, however, is characterized by a restructuration in the field of web application. In this context, non-scheduled depreciation of goodwill and intangible assets of the Swiss subsidiary totalling 4.48 million Euros as well as scheduled depreciation of 1.6 million Euros led to a decline of the EBIT down to -8.47 million Euros (previous year: -2.61 million Euros).
The management of phion AG considers the company well positioned after an economically difficult year and after integration into the Barracuda Networks group: “In addition to innovation power, size also has become a decisive criterion for competition in IT. phion now is part of the strong, globally operating Barracuda group. The successful integration will also be expressed on a visual level, concentrating on the name Barracuda Networks in the future.” The new majority owner Barracuda Networks has already announced to strengthen the position of Innsbruck, for example through additional investments in Research & Development.
The phion share, the price of which at the beginning of the financial year was 6.9 Euros, has more than doubled as in the course of the public tender offer of Barracuda, having stabilized at some 16 Euros lately. At the moment Barracuda Networks holds 80.89% of the shares; the rest is held by Donau Invest (5.04%) and by the free float (14.07%).
Development phion AG financial year 2009/10*:
(TEUR)
Revenue: 9,180 EBITDA: -2,344 Depreciation total: -6,131 - thereof extraordinary: -4,480 EBIT: -8,475 EBT: -8,445
Development phion AG financial year 2008/09*:
(TEUR)
Revenue: 11,783
EBITDA: -1,160
Depreciation total: -1,455 EBIT: -2,615 EBT: -2,433 * Due to the change of the financial years (from 1 March until the last day of
February), 2009/10 was a short financial year (11 months). Therefore, the figures are not 100% comparable.
You will find the Annual Report 2009/10 available for download in German and English at www.phion.com
end of announcement euro adhoc
issuer: phion AG Eduard-Bodem-Gasse 1 A-6020 Innsbruck phone: +43 (0)508 100 FAX: +43 (0)508 100 20 mail: office@phion.com WWW: www.phion.com sector: Computing & Information Technology
ISIN: AT0000PHION3
indexes: mid market
stockmarkets: Third Market: Wien
language: English
Rückfragen & Kontakt:
Wieland ALGE,
CE0 phion AG,
Eduard-Bodem-Gasse 1,
6020 Innsbruck
Tel. +43 (0)508 100 / E-Mail: w.alge@phion.com
