09.02.2012 - Corporate News release

Following business model realignment and restructuring, Beta Systems makes profitable start to the fiscal year 2011/12

Berlin, February 9, 2012 – The business model realignment, geared to sustainably raising revenues and income components, has taken effect in the first quarter of the fiscal year 2011/12 (Oct.- Dec. 2011) of Beta Systems Software AG (BSS, ISIN DE0005224406), as reported by the Berlin-based company in its Interim Announcement released today, within the first half of the fiscal year 2011/12.

 Key financials for Oct.-Dec. 2011 at a glance:

  • Revenues:                    € 12.0 million     (Oct.-Dec. 2010: € 15.8 million)
  • EBIT:                        € 2.0 million     (Oct.-Dec. 2010: € -2.0 million)
  • EBITDA:                    € 2.5 million     (Oct.-Dec. 2010: € -1.1 million)
  • EBT:                        € 2.1 million     (Oct.-Dec. 2010: € -1.6 million)
  • Net income (loss) for the fiscal period:        € 1.8 million     (Oct.-Dec. 2010: € -1.5 million)
  • Earnings per ordinary share:            € 0.13         (Oct.-Dec. 2010: € -0.12)

Having stabilized in the previous quarters, maintenance revenues were once again higher than the year-earlier figure. Software and service revenues declined in the wake of the realignment, as well as due to the low level of new business with GRC solutions and classical infrastructure software solutions.

The extensive savings made across all operating expenses once the restructuring process had been concluded were fully evident for the first time on a three-monthly basis. Savings on all operating expenses totaled € 7.7 million and break down as follows: € 4.6 million from non-recurrent restructuring expenses, € 1.1 million from the decrease in sales-related costs, and € 2.0 million from long-term cost reductions. The resulting clearly positive EBIT is a good basis for business to develop over the course of the fiscal year. The development of cash flow from operating activities also gives grounds for optimism. Although negative in the first quarter of 2011/12, in line with expectations, the cash flow has nonetheless improved in comparison with a year ago.

More information

The full Interim Announcement within the first half of the fiscal year 2011/12 (October 1, 2011 through to December 31, 2011) was released today on http://www.betasystems.de under the Investor Relations/Finanzberichte/2011/12 topic (in German).

Beta Systems was founded in 1983, has been listed on the stock exchange since 1997 and employs more than 300 staff. Company headquarters are located in Berlin, Germany.

The company, together with its 18 self-owned subsidiaries and numerous partners, has a strong domestic and international focus. More than 1,300 customers located in over 30 countries are running about 3,200 installations that help them optimize their IT processes. Beta Systems is a leading mid-sized, independent European software solution provider.