CPU Softwarehouse AG

ots Ad hoc-Service: CPU Softwarehouse AG

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    Augsburg (ots Ad hoc-Service) -

    Jochen Furch has resigned from his position as CEO for personal reasons and reasons of health - Bernd Erlingheuser will join the Executive Board - quarterly figures will be below expectation due to the influence of special factors

    Jochen Furch, previously CPU Softwarehouse AG CEO, has resigned from this position for personal reasons and reasons of health. The Supervisory Board has accepted this resignation with regret. Jochen Furch will remain in close contact with the company as one of the major shareholders.

    Bernd Erlingheuser will assume the top executive function of Finance at CPU Softwarehouse AG. His area of responsibility will cover Accounting, Controlling, Human Resources and Organisation. With the addition of Bernd Erlingheuser, CPU Softwarehouse AG not only gains 30 years of experience in the banking sector but also enhances its Executive Board with an established financial expert who has, for example, been a member of the Bank24 AG Executive Board (former direct bank subsidiary of the Deutsche Bank AG).

    The publication of the final target figures has been delayed due to these personnel changes.

    In the first quarter 2000, CPU Softwarehouse AG achieved Group turnover of 2,15 million Euros, an order book volume of 10,2 million Euros and Letter of Intent volume of 1,9 million Euros. The operating result was - 5,07 million Euros after tax.

    The causes for the less satisfactory quarterly result are:

    High personnel and material advance investments made for the further development of company standard software products and improved sales opportunities for the following quarters, connected with this. The effect of this intense focussing was a reduction in high-turnover individual software projects.

    The integration of Group subsidiaries and the internationalisation strategy has been realised more slowly than planned and required a high level of time investment and management focus to ensure comprehensive harmonisation of the product portfolio.

    These advance investments and consistent cost management will ensure the return of a positive business trend for CPU Softwarehouse AG.

    Compiled by: Kay Schleef Director of Strategic Marketing, M&A Further information can be found under: www.cpu-ag.com

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