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EANS-News: Beta Systems presents its audited annual results 2009 and releases its outlook
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Financial Figures/Balance Sheet
Berlin (euro adhoc) - Berlin, March 29, 2010 - Beta Systems Software AG (BSS, ISIN DE0005224406) is releasing its results for the fiscal year 2009 through its audited and certified annual financial statements presented as part of the Annual Results Press Conference which takes place today.
Presentation of the audited 2009 Annual Results Earnings before interest and tax (EBIT) came to EUR 1.4 million in 2009 (2008: EUR 6.4 million) and EBITDA (EBIT before depreciation and amortization) to EUR 4.9 million (2008: EUR 10.3 million). Earnings before tax (EBT) stood at EUR 1.7 million (2008: EUR 6.0 million) and consolidated net income (pursuant to IFRS) remained distinctly positive at EUR 1.2 million (2008: EUR 4.8 million). Earnings per ordinary share posted EUR 0.09 (2008: EUR 0.36). Similarly, the net profit for the year of Beta Systems Software AG, which came to EUR 0.5 million in year 2009 (2008: EUR 1.3 million) calculated under HGB, was also clearly positive.
Performance of the lines of business (LoBs) The impact of global financial crisis on the Lines of Business varied: The infrastructure business remained stable (Data Center Infrastructure (DCI) LoB) and even achieved growth (Identity Management (IdM) LoB). By contrast, however, the ECM solutions business (Enterprise Content Management (ECM) LoB) was hard hit by the crisis as its main customers, which are banks and insurance companies, held back on investment activities, postponed projects and exerted more pressure on pricing. The Identity Management business lifted segment revenues to EUR 12.7 million (2008: EUR 9.3 million) and the result significantly to EUR 2.9 million (2008: EUR 0.4 million). In the Data Center Infrastructure (DCI) LoB, revenues, which posted EUR 39.5 million, remained virtually steady at a high level (2008: EUR 40.5 million) and the contribution to profit stood at EUR 17.4 million (2008: EUR 21.2 million). Revenues of the ECM LoB declined to EUR 28.8 million (2008: EUR 40.7 million), and the segment profit came to EUR 1.3 million (2008: EUR 7.1 million). Consolidated revenues therefore fell to EUR 81.1 million in the fiscal year 2009 (2008: EUR 90.4 million)
Other Key Financial Data
Revenues from software licenses of EUR 25.4 million fell short of the previous year's figure (2008: EUR 29.2 million) Maintenance revenues stood at EUR 40.6 million (2008: EUR 40.5 million) Revenues from scanner hardware dropped to EUR 3.1 million (2008: EUR 6.2 million) Services revenues declined to EUR 12.0 million (2008: EUR 14.5 million). Outlook for the Fiscal Year 2010
In order to lift the level of revenues and to strengthen profitability in the long term, Beta Systems intends to follow its adopted strategy in the future as well and to build up its market position in the infrastructure and the ECM solutions businesses.
The Company believes there are new growth prospects in the infrastructure business from the successful sale of newly acquired product suites and from its own innovations. Beta Systems also sees upside potential in the ECM solutions business through the successful signing of contracts postponed in 2009 and ongoing internationalization, along with the entry envisaged into the outsourcing services business with a document-based business processes. Moreover, in the wake of the significant decline in revenues and the result, a package of measures was approved the focus of which is the realigning of the ECM solutions business, along with short-term cost savings. In tandem with its commitment to raising the level of revenues, Beta Systems plans to build more flexibility into and adjust its cost base in order to secure positive results and margins on a sustainable basis.
Overall, the Management Board expects revenues to recover in the year 2010 in the wake of an easing of the investment backlog. The Management Board is currently working on a number of different concepts for strategic realignment. On the back of the measures, due to be conclusively defined in the first half of the year, in conjunction with cost adjustments effective at short notice (including the selective introduction of short-time work in the ECM LoB), profit in 2010 will stabilize at the level of the reporting year, with the aim being to raise revenues and growth significantly in the years 2011 and 2012.
Online Annual Results Press Conference, Annual Report 2009 and date for the Annual General Meeting of Shareholders in 2010 Further details will be released today at 11.00 a.m. and explained by the Management Board as part of an online Annual Results Press Conference. The complete Annual Report 2009 has also been published today and can be downloaded from the company website at http://www.betasystems.com under the Investor Relations/Financial Reports heading. As part of releasing the annual results, reference is made to the new date set for the regular Annual General Meeting of Shareholders which has been changed from May 18 to June 22, 2010. The date has had to be postponed for organizational reasons. The financial calendar as well as the respective announcements will be changed accordingly.
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 Consolidated Financial Statements as at December 31, 2009.
End of the press release
Beta Systems Software AG - Agility Integrated Beta Systems Software AG Berlin (Prime Standard: BSS, ISIN DE0005224406) develops high-profile software products and solutions for the automated processing of large volumes of data and documents. These products and solutions serve to enhance process optimization, improve security and make IT more agile. They guarantee compliance with business requirements in respect of governance, risk management and compliance (GRC) and raise the performance of a company's IT in respect of availability, scalability and flexibility.
Beta Systems´ IT infrastructure software product segment (Infrastructure & Operations Management) is geared towards optimizing job and output management in data centers across all sectors. In addition, Beta Systems offers products for automating IT user administration to companies with high numbers of users. In its ECM Solutions Division (ECM & Document Solutions) Beta Systems develops customized solutions for large enterprises in the financial services sector, industry and trading in the areas of payments, processing of incoming post and general document management.
Beta Systems was founded in 1983, has been a listed company since 1997, and has a workforce of more than 600 employees. The company´s principal place of business is Berlin. Beta Systems operates through Centers of Competence in Augsburg, Cologne and Calgary, as well as 20 subsidiaries worldwide and cooperations with numerous partner companies. Throughout the world more than 1,400 customers use the products and solutions of Beta Systems in more than 3,300 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.
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