EANS-News: Beta Systems releases outlook and realigns its future portfolio to
Security & Compliance / GRC solutions
Geschrieben am 31-03-2011 |
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Financial Figures/Balance Sheet
Berlin (euro adhoc) - • Provisional key data confirmed and
publication of the 2010 Annual Report • Alignment of portfolio geared
to Security & Compliance and GRC solutions • Marginally positive EBIT
and revenues of between EUR 45 and 47 million targeted in 2011 •
Significantly higher EBIT margin level and moderate revenues growth
anticipated from 2012 on-wards • Changeover to new fiscal year
planned
Berlin, March 31, 2011 - Beta Systems Software AG (BSS, ISIN
DE0005224406) today affirms the preliminary results already released
for the fiscal year 2010 by presenting its audited, certified and
adopted annual financial statements for the fiscal year 2010. Key
factors of influence were the non-recurrent effects already known
from the ECM disposal, provisions formed for reorganization and
restructuring, and a decline in revenues from ad-justing the business
model in continued operations. The aforementioned realignment is the
response to the growing demand of many Beta Systems customers (e.g.
large IT service providers) that the company support current trends
in the market such as cloud computing or on-demand software and
services through offering correspondingly flexible, modular
subscription-based user and licensing models.
Outlook for 2011/2012 Management anticipates another temporary
decrease in non-recurrent license revenues from realigning the
Company´s business model. Consequently, the Management Board is
expecting revenues to settle at between EUR 45 million and EUR 47
million in 2011. Moderate growth in revenues in the Group from
aligning the portfolio more strongly towards Security & Compliance
and GRC solutions can only be expected as from the next fiscal year.
A major factor of influence on the earnings situation will, however,
be cost optimization and the associated low-ering of breakeven. In
this context, the Management Board anticipates a growing level of
savings of up to EUR 2.5 million in operating expenses over the
course of the year 2011 as compared with the fiscal year 2010. In
sub-sequent years, a permanent savings effect on the whole Group is
expected in the range of up to EUR 5.0 million a year. The sum total
of these effects give rise to expectations that the Group may achieve
a marginally positive EBIT and result in the fiscal year 2011. A
significant improvement in profit and margin levels is anticipated
from 2012 onwards.
Changeover of the fiscal year As most of the contracts acquired in
Beta Systems' continued operations are customarily only signed in the
fourth quarter of the year, there is now even greater seasonality of
sales revenues, and thus of the course of business, in the wake of
the sale of the ECM business. Given that the end of the fiscal year
in customer com-panies and in Beta Systems coincides, these months
are characterized by the greatest pressure on prices and negotiations
which, in turn, tends to exert a negative impact on the level of
margins when large contracts are signed. In order to counteract this
impact more effectively within a fiscal year, the Management Board
has de-cided to reschedule the fiscal year of Beta Systems to the
period from October 1 until September 30 of the fol-lowing year. The
relevant proposals for resolution will be presented to the
shareholders at this year's Annual General Meeting of Shareholders
for their decision, and implementation has been planned before the
end of 2011.
Statement by the Management Board "In 2010, we paved the way in terms
of cost optimization and restructuring. The uneven results in 2010
and the modest outlook for 2011 underscore the fact that we have not
yet come to the end of this far-reaching process of change and that,
despite an increasingly higher volume of savings, the effects are
still likely to be felt in cur-rent fiscal year," stated Gernot Sagl,
Chief Financial Officer of Beta Systems Software AG, and added: "The
changeover to the new fiscal year is a cornerstone of this process.
We intend to use the short fiscal year to forge ahead with the
innovations planned in the portfolio underpinned by the now much
leaner structure of our company. At the same time, we will be
improving the accuracy of our forecasts and optimizing management and
control options."
"The development of our revenues it clearly indicative of Beta
Systems currently not being a high-growth com-pany," added Jürgen
Herbott, Chief Executive Officer of Beta Systems Software AG. "We
have con-sciously taken the path of self-restraint in all regions and
areas of the portfolio and have separated from less profitable
activities. This entails concentration on key market trends such as
virtualization, cloud computing and agility in IT. For us this also
means that achieving sustainable profitability and positive cash
flows have gone to the top of the list and take precedence over the
size of our company and giving way to the pressure of generat-ing
quantitative revenue growth. This is the only way we can focus more
concertedly on the expectations of our customers and enrich our
development pipeline consistently through ground-breaking innovations
encompass-ing the whole of IT security and GRC."
Online Annual Results Press Conference and more information More
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 2010 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. This year's Annual General Meeting of Shareholders
will take place on June 7, 2011, in Berlin.
End of the press release
Beta Systems Software AG Beta Systems Software AG (Prime Standard:
BSS, ISIN DE0005224406) offers large corporations, mid-sized
companies and organizations high-end infrastructure software and
solutions which span sectors. These products enhance the perform-ance
of a company´s IT in terms of its availability, scalability and
flexibility. Data centers optimize their job and output man-agement.
Moreover, especially companies with high numbers of users are
supported in the automation of their IT user ad-ministration.
Improved security also serves to fulfill the requirements placed on
business operations in respect of govern-ance, risk management and
compliance (GRC). Beta Systems was founded in 1983, has been a listed
company since 1997, and has a workforce of around 350 employees. The
company´s principal place of business is Berlin. Beta Systems
operates in Germany and internationally through 14 subsidiaries and
cooperations with numerous partner companies. Throughout the world
more than 1,300 customers use the products and solutions of Beta
Systems to improve their processes and security in more than 3,200
running installations. At present, Beta Systems generates 50 percent
of its sales from international business.
More information on the company and its products can be found under
www.betasystems.com.
You can also visit Beta Systems at www.twitter.com/BetaSystems and
www.facebook.com/BetaSystems as well as
www.xing.com/companies/betasystemssoftwareag
end of announcement euro adhoc
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ots Originaltext: Beta Systems Software AG
Im Internet recherchierbar: http://www.presseportal.de
Further inquiry note:
Press contacts
Company contact:
Beta Systems Software AG
Stefanie Frey
Investor Relations
Tel.: +49 (0)30 726 118-171
Fax: +49 (0)30 726 118-800
e-mail: stefanie.frey@betasystems.com
Agency contact:
HBI PR&MarCom GmbH
Alexandra Janetzko
Tel.: +49 (0)89 99 38 87-32
Fax: +49 (0)89 930 24 45
e-mail: alexandra_janetzko@hbi.de
Branche: Software
ISIN: DE0005224406
WKN: 522440
Index: CDAX, Prime All Share, Technology All Share
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Hamburg / free trade
Stuttgart / free trade
Düsseldorf / free trade
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