09.08.2006 – 14:57
euro adhoc: Beta Systems Software AG
quarterly or semiannual financial
Beta Systems announces results for the second quarter and the first
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CORPORATE NEWS RELEASE AD HOC ANNOUNCEMENT PURS. TO SEC. 15 WpHG
Beta Systems announces results for the second quarter and the first half 2006
Berlin, 9 August 2006 - The management board of Beta Systems Software AG (BSS, ISIN DE 0005224406) announced after a detailed analysis of the operating business and all balance sheet items for the second quarter and first half 2006 that the exceptional expenditure items, due to the risk assessment carried out in the second quarter and the cost reduction and consolidation measures, are significantly above the previous years level.
Beta Systems key financial figures for Q2 2006 - Revenue increased to EUR 23.5 million (Q2 2005: EUR 23.4 million) - Special Items: Exceptional expenses of EUR 12.3 million for cost reduction and consolidation measures and the current risk assessment had an effect on the operating result. - Operating result (from continued business operations including aforementioned exceptional expenses) reduced to EUR -15.4 million (Q2 2005: EUR -3.5 million) - Quarterly result decreased to EUR -9.4 million / -1.08 per share (Q2 2005: EUR 4.1 million / EUR 0.50 per share) - Comparable, adjusted operating result reduced to EUR -3.2 million (Q2 2005: EUR -2.5 million) - Comparable, adjusted quarterly result reduced to EUR -2.1 million / EUR -0.23 per share (Q2 2005: EUR -0.9 million / EUR -0.11 per share)
Beta Systems key financial figures for first half 2006 - Revenue increased to EUR 45.3 million (HY 2005: EUR 43.2 million) - Special Items: Exceptional expenses of EUR 13.0 million for cost reduction and consolidation measures and the current risk assessment had an effect on the operating result. - Operating result (from continued business operations including aforementioned exceptional expenses) reduced to EUR -19.0 million (HY 2005: EUR -7.6 million) - Half-year result reduced to EUR -10.9 million / EUR -1.25 per share (HY 2005: EUR 2.0 million / EUR 0.24 per share) - Comparable, adjusted operating result increased to EUR -6.0 million (HY 2005: EUR -6.6 million) - Comparable adjusted half-year result reduced to EUR -3.1 million / EUR -0.35 per share (HY 2005: EUR -2.5 million / EUR -0.30 per share)
End of ad-hoc announcement
Information and notes provided by the party issuing this ad-hoc announcement:
Assessment of the current risk situation "The significantly reduced operating result in the second quarter and first half 2006 as a comparison with the previous year is in particular attributable to the special items within the cost reduction and consolidation measures and the assessment of the current risk situation which amounted to a total of EUR 13.0 million", stated Kamyar Niroumand, management board chairman of Beta Systems Software AG. "Therefore we have undertaken a necessary assessment of the current risk situation which involved some one-off items." In addition the management team has been significantly slimmed down with two board members in the future and one implementational first management level. I explained in the last report that our company was to switch from restructuring mode to growth mode. In Q2 we have set a positive signal here by stabilising our revenue growth and halting the drop in the licence business - our most important growth engine. We are continuing to devote the highest level of attention to increasing our licence business and at the same time we are working extremely hard to improve our sustained results which we have not yet been able to in this first half year."
Fine tuning of the company strategy: Focus, Focus, Focus Mr Niroumand summarised his first 100 days as chairman of the management board of Beta Systems Software AG as follows: "I have concentrated during this period on our sales activities in the operating business and have visited two to three important strategic customers every week. This has been extremely helpful in the further development of our company strategy. "The series of measures now agreed for the fine-tuning of our strategy can be summarised with the words focus, focus and more focus. We develop exclusive, high-value software products and solutions for the secure and efficient processing of extremely large data volumes. This consists of a concentration on software for the safeguarding of business processes in large companies, especially in the financial services and industrial sectors. In our international business we are focussing on doubling the partner business in Europe and on a long-term profitable presence in North America. In the course of these measures we have slimmed down our country organisations and a streamlined our portfolio. Our prime objective is to generate sustained positive results. This means that by 2008 at the latest all the business sectors must be working profitably. Based on the successfully implemented cost reduction and cost consolidation measures and the current risk assessment we have carried out, we expect that we will be able to increase our comparable, adjusted operating result over the rest of the year.
The complete quarterly report will be published on the internet at www.betasystems.com.
End of announcement
About Beta Systems Software AG, Berlin, Germany Beta Systems Software AG (Deutsche Börse - Prime Standard: BSS) is a leading supplier of infrastructure software for enterprise critical applications for the automation and protection of business processes. Beta Systems provides software in the following areas: Identity Management (IdM), Enterprise Content Management (ECM) and Data Centre Infrastructure (DCI). All solutions are able to process high-volumes of information and throughput. They secure business critical data and help achieve compliance by addressing regulatory requirements. The ECM product range includes scanners and sorters from Kleindienst - a brand owned by Beta Systems Software AG.
Beta Systems with headquarter in Berlin has been listed on the Deutsche Börse (German stock exchange) since 1997 and currently employs about 700 people. The company has 17 subsidiaries worldwide, as well as numerous business partners. Beta Systems worldwide customer base comprises more than 1,000 IT service providers and large organisations from the fields of finance and insurance, manufacturing, commerce, telecommunications, logistics and energy supply, along with public sector organisations. For further information please visit: www.betasystems.com
end of announcement euro adhoc 09.08.2006 14:01:57
ots Originaltext: Beta Systems Software AG
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