BEKO Holding AG
BEKO Holding AG english
BEKO holdings in Hungary and the Czech Republic
Corporate-news announcement sent by DGAP.
The sender is solely responsible for the contents of this announcement.
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Weak economy has a depressing effect on the business trend in the first half of
2002
The Hungarian holding BEKO Engineering Kft. reported a decline in sales and
earnings in the first six months of 2002. The Czech holding BEKO Engineering
spol. s.r.o. reported an increase in sales but earnings deteriorated slightly.
BEKO Engineering Kft., Hungary*
The recession that has hit the Hungarian economy had a negative effect on the
business trend in the first half of the year. A general decline in the demand
for IT services can be observed. In contrast, there has been a slight increase
in the demand for engineering services.
Sales (in accordance with IAS) deteriorated by 3.5% (EUR 945,000 HY 1, 2002) and
the EGT by 48% (EUR 127,000 HY 1, 2002) compared to the same period the
previous year. This can be attributed to the increase in training and seminar
costs, a rise in personnel costs resulting from the increase in contributions
payable (change in legislation) and a slight drop in the volume of work in the
Consulting area. The number of employees has risen from 56 to 59.
The order situation remained stable in the Engineering division – particularly
with regard to orders received from major international customers – in spite of
the cost-reduction and savings programs. In the IT area, the value of the order
book dropped due to the fact that several planned projects did not get of the
ground or were postponed. Management expects that the economy will recover
slightly from the middle of the third quarter 2003.
BEKO Engineering spol s.r.o., Czech Republic
The holding managed to increase sales by 9.3% to EUR 585,000 in the first half
of 2002. The EGT dropped by 1.6% to EUR 96,000. BEKO Engineering was the main
hardware supplier for IBM and also further increased the volume of business with
Mercedes Benz Engineering s.r.o.
In spite of these successes, the CAD/CAM/CAE area is struggling as a result of
the increasing strength of the Czech currency. The strength of the US Dollar
against the Czech Crown fell drastically in the period under review (25% on a
year-on-year basis) and this has had an adverse effect particularly in terms of
IBM-CATIA commissions. Capacities were well utilised and, as a result, the
planned figures were exceeded slightly.
The personnel situation remains stable. The capacities of the Engineering and
CAD/CAM areas were enhanced through the recruitment of two additional employees
for each division. Management expects that the planned sales and earnings
figures will be achieved by the end of the year.
* The results will have a negative effect on the annual result of BEKO Holding
AG which will be published on August 30th, 2002.
end of message, (c)DGAP 20.08.2002
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WKN: 920503; ISIN: AT0000908603; Index:
Listed: Neuer Markt Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf,
Hamburg, Hannover, München, Stuttgart
200853 Aug 02
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