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Beta Systems announces results for fiscal 2005
Berlin (ots) -
- Beta Systems confirms preliminary results: FY 2005 sees growth
in revenue and earnings
- Revenue increases by 6.2% to Euro 95.6 million (2004: Euro 90.0
- Exceptional expenses of Euro 5.6 million (merger, restructuring
and cost streamlining)
- Pre-tax loss from continuing operations of Euro 5.1 million
(2004: profit of Euro 0.3 million)
- Non-recurring income of Euro 6.1 million from disposal of
- Net profit of Euro 1.6 million / Euro 0.19 per share (2004: Euro
0.1 million / Euro 0.01 per share)
Beta Systems Software AG (BSS, ISIN DE0005224406) recorded year-on-year revenue growth of Euro 5.6 million, or 6.2%, in fiscal 2005. The increase in revenue is attributable mainly to the full inclusion of Kleindienst Datentechnik AG in the consolidated group for the first time. Net profit for the period amounted to Euro 1.6 million (2004: Euro 0.1 million) and is dominated by exceptional charges associated with corporate integration, amalgamation as well as Group-wide restructuring and cost streamlining. Exceptional income of Euro 6.1 million from the disposal of the Outsourcing Service unit also had an impact on bottom-line results in fiscal 2005. 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 2005. As a result, there will be no dividend payment for the 2005 fiscal year. However, both the Management Board and the Supervisory Board remain committed to a dividend policy that is geared to the future.
Comments by the Management Board
Dietmar Breyer, CEO of Beta Systems Software AG, issued the following statement in response to the company's annual results: "The financial year just ended was influenced by measures aimed at cost streamlining, consolidation and integration. Our market environment was characterized by intense competition and reluctance on the part of large corporations to invest in major IT projects, which was particularly apparent in our home market, the German-speaking countries. Having said this, the IdM and ECM segments, in which we are now perfectly positioned, provided strong impetus in the year just ended, and we negotiated a number of major sales agreements towards the end of 2005. Our operating results were impacted by exceptional charges associated with corporate restructuring. To a large extent, this process of reorganization within the Group, initiated as part of our 'GaP'05' program, has now been concluded and is beginning to take effect."
Dietmar Breyer added, "In addition to providing a more effective basis for marketing activities, the new structure will ensure greater proximity to customers and further optimization of costs. We have identified the majority of opportunities within this area and will implement the appropriate measures in fiscal 2006 to the full extent, with the express purpose of leveraging profitability in a manner that is sustainable and generating palpable earnings growth over the coming years. The prime objective, however, is to achieve our planned growth targets in terms of revenue. With the appointment of Kamyar Niroumand as the Group's new CEO effective from April 1, 2006, Beta Systems will enter this crucial phase of its corporate development with renewed vigor and determination."
Further information regarding FY 2005
Online Annual Results Press Conference
The Management Board will comment on the results of fiscal 2005 as part of an online annual results press conference to be held on March 27, 2006. 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_270306.
The full annual report for 2005 can be accessed at www.betasystems.com.
End of announcement
About Beta Systems Software AG, Berlin, Germany
Beta Systems Software AG (Deutsche Boerse - Prime Standard: BSS, ISIN DE0005224406) 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 Center Infrastructure (DCI). All Beta Systems' solutions are able to manage 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 has been listed on Deutsche Boerse (German stock exchange) since 1997 and employs 700 people. The company has 17 subsidiaries worldwide, as well as numerous business partners. Beta Systems' worldwide customer base comprises more than 1,000 customers including IT service providers and large organizations from the fields of finance and insurance, manufacturing, commerce, telecommunications, logistics and energy supply, along with public sector organizations. For further information please visit: www.betasystems.com.
Beta Systems Software AG
Tel.: +49 (0)30 726 118-170
Fax: +49 (0)30 726 118-881