Ad-hoc | 24 July 2001 08:25

BETA Systems Software english

Ad hoc announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– – One-off extraordinary charge of Euro 3.3 million taken – CEO of Tantia Technologies leaves the Company; Board Member Ralf Männlein appointed interim CEO at Tantia Technologies – Year on Year revenue growth for Half Year 2001 around 8% – Strong cash position maintained Berlin, July 24, 2001 – Beta Systems Software AG, (Neuer Markt: BSS) a leading German provider of high performance software for IT management announced that it will revalue the Company’s books to reflect the weaker than expected results of its U.S. subsidiary Tantia Technologies. The Company points to lower than expected growth in the U.S. economy and slowing technology sales in the first half year 2001 as key contributors to the decision to revalue. The revaluation will consist of a one time write-off of almost the entire goodwill Tantia represents on Beta Systems’ books, totaling around Euro 3.3 million. As a result of the write-off, the Company expects the pretax loss for the first six months of the year to amount to around Euro 6 million. Beta Systems expects turnover for the Half Year 2001, to be approximately Euro 18 million, up 8% compared to Half Year results from year 2000. The Company expects the revaluation to result in a net loss for the Full Year 2001, but the measures will put Beta Systems in a better position for future results. Beta Systems maintains a strong cash position and is fully funded to execute its expansion program. Ralf Männlein, Member of the Management Board at Beta Systems, has been appointed interim CEO at Tantia Technologies, replacing Victor Walker who will leave the Company. Mr. Männlein will be responsible for the development of the business unit Storage Management, one of the key points of the “Eight-Step” turnaround program recently announced. end of ad hoc announcement (c) DGAP 24.07.2001 Issuer’s information/explanatory remarks concerning this ad hoc announcement: Beta Systems’ CEO, Karl-Joachim Veigel stated, “We were required to take this charge to reflect the current situation with regards to Tantia on our books. The charge, however, does not affect our very stable cash position or our operational performance, which has been strong. We continue to show top-line growth, and we continue to execute our ‘Eight-Step’ turnaround program. We are on track to make the organization leaner, more efficient and competitive.” Ralf Männlein stated, “Despite the current market realities, Storage Management remains one of the core competencies of Beta Systems. We feel we address a niche market within the storage sector with products that far outperform those currently offered by competitors. We expect the business unit to be one of the main growth engines of Beta Systems. We also expect the new management structure to contribute to improved synergies between Beta Systems’ U.S. and European activities.” The Company will announce its full results for the Half Year 2001 on August 10, 2001. The results will be discussed the same day in a conference call. Details of the call will be published shortly on the Company’s website under www.betasystems.com. Beta Systems Software AG, Berlin, Germany Beta Systems Software AG, Berlin, develops and sells high-performance IT management software solutions. Its key areas of expertise are in the fields of automation and optimization of important system functions, for the processing of very large volumes of data. Today, the company focuses on three strategic fields: document management, storage management and data center management. Beta Systems’ international clientele includes large organizations in the industrial, financial, service and public sectors, as well as in the energy supply and telecommunications fields. The software solutions developed by Beta Systems are distributed worldwide by its own and partner companies. The organization has 318 employees worldwide (as of March 2001), and in 2000 had revenue of around 41 million EURO. Since June 1997 Beta Systems’ shares have been traded on the Neuer Markt, Frankfurt, under the symbol BSS. For more information, please visit us on the Internet at www.betasystems.com. Contacts: Investor Relations Arne Bassler Beta Systems Software AG Tel.: +49 (0)30 726 118 -170 Fax: +49 (0)30 726 118 -881 e-mail: arne.bassler@betasystems.com ——————————————————————————– WKN: 522 440; Index: Listed: Neuer Markt Frankfurt und im Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, München und Stuttgart 240825 Jul 01