SER Systems AG
Ad hoc-Service: SER Systems AG english
Ad hoc announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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SER Systems in line with budget in the first quarter 2001
Neustadt/Wied, Germany, May 15, 2001
Group Figures in Summary (in thousands of EUR)
3M 2001 3M 2000
Sales 42,651.3 38,303.1
EBITA -4,406.5 3,422.5
EBIT -5,813.9 2,895.9
March 31, 2001 Dec. 31, 2000
Balance Sheet Total 293,842.3 360,874.7
SER group sales rose in the first quarter by 11.4%, organic growth was up by 17%
over the first quarter 2000. The EBITA (Earnings before interest, tax,
amortisation of goodwill) turned negative due to 6.5 m EUR of restructuring
costs. From todays’ point of view, the 10 m EUR budget for company restructuring
announced earlier can be confirmed. The increased current amortisation of fixed
assets in the first quarter also negatively affected the result. The balance
sheet total dropped compared to Dec 31, 2000. This resulted largely from the
reduction in the short-term bank liabilities. SER’s outstanding net debt
remained unchanged at 34.3 m EUR.
SER’s focus on the Knowledge Management market has meant several key personnel
and organisational changes were inevitable. Also, the international sales roll-
out of the SERware product family and the establishment of an indirect sales
channel influenced the results of the first quarter of 2001. A substantial part
of our internal resources were therefore dedicated to the internal
transformation process of our company. The figures meet our expectations: a
moderate sales growth with a short-term underproportional organic growth rate
and a result that reflects our high restructuring costs.
Our main goal for the second quarter is to drive the new positioning forward.
Due to the fact that SER is at the beginning of this process a significant
improvement of the financial data cannot yet be expected. We plan to see the
positive effects from our new market positioning in the second half year,
particularly in the fourth quarter. By then we expect the main proportion of our
planned indirect sales for 2001 and the related results contribution.
For further details please contact: www.ser.com
Your contact to SER Systems AG: Phone +49 (0) 26 83-9 84-3 61, eMail: ir@ser.com
end of ad hoc announcement (c) DGAP 14.05.2001
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WKN: 724190; Index: NEMAX 50
Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf,
Hamburg, Hannover, München und Stuttgart; London
142317 Mai 01
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