Softmatic AG


Ad hoc-announcement edited and sent by DGAP. The sender is solely responsible for the contents of this announcement. -----------------------------------------------------

    Norderstedt (ots Ad hoc-Service) -      

    Softmatic AG (WKN 727 170) will include most of the costs relating to the current restructuring of the group in its financial statements for fiscal 2000. Hence, subsequent financial statements will not be effected by these one time effects.

    Since November 2000, Softmatic has initiated and partly finished a number of restructuring measures, like the change of the process manufacturing software business to a cost saving partner sales structure, the sale of the document management activities for not fitting the groups core business and the closure of loss-making foreign subsidiaries, to concentrate on the groups core business of developing and selling commercial standard software. These measures have fundamental effects on the consolidated financial statements and result in the U.S.GAAP loss before taxes for fiscal 2000 being significantly higher than the so far anticipated 39 million DM. This is mainly due to write-offs and extraordinary items related to the above named restructuring measures.

    Due to the changes in the scope of consolidation and some of the restructuring measures only being concluded as late as March 2001, the board of Softmatic AG has informed the Deutsche Boerse AG that it will publish its annual financial statements for fiscal 2000 in late April 2001.

    At the same time, the company announces a further step on its way to consolidate the groups business activities. RSW-Orga GmbH, Moenchengladbach, a 100-percent subsidiary with 35 employees has been sold as part of a management buy out. The parties have agreed on the non-disclosure of the sales price.


    Softmatic AG Heidbergstr. 100 D-22846 Norderstedt Tel: +49-40-52844-225

    WKN: 727170; Index: Listed: Neuer Markt in Frankfurt, Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart

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