Heyde AG
Ad hoc-Service: Heyde AG english
Ad hoc announcement transmitted by DGAP.
The issuer has the sole responsibility of this announcement.
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Heyde’s Managing Board presents final results for 2000 and adjusts financial
statements in favor of restructuring process
(Bad Nauheim, April 10, 2001) Heyde’s new Managing Board has adjusted the
financial statements for fiscal 2000 in favor of the ongoing restructuring
process. At the same time, due to strategic considerations, the company will not
complete the acquisitions of GIFTS Software Inc, New York, and Value Partner
GmbH, Frankfurt, announced at the end of last year. A number of other smaller
revaluations were also made. As the US-based GIFTS was not consolidated, the
Heyde Group is now reporting sales of DM 312 million for 2000, an increase of
73% on the previous year. Organic growth excluding acquisitions was over 25%.
EBIT according to US GAAP amounted to DM 46.9 million. Taking account of the
financial result (sale of shares in Pulsiv AG, among other things), the
extraordinary result (amortization of the minority interest in Lecloux AG as
well as M&A expenses, among others) and taxes, the Heyde Group recorded a net
loss of DM -40.7 million in 2000. The final figures are mainly the result of
very conservative accounting. This is due in part to not capitalizing research
and development activities totaling DM 6.1 million, the more cautious valuation
of Work in Progress amounting to DM 8 million and many smaller revaluations. In
the balance sheet, the switch from the pooling of interests to the purchase
method led to a technical increase in total assets and liabilities of DM 108
million. As part of its current restructuring process, the company is adjusting
capacity, and has, therefore, reduced personnel in Germany by 15%. This affected
the Group’s administration staff and selected parts of the systems integration
business. Nevertheless, the company expects to record a considerable loss in the
first half of 2001. At a press and analysts’ conference on May 2, Heyde AG will
present a detailed analysis and evaluation of business developments in 2000, an
analysis of the first quarter of 2001 and future prospects, after these have
been approved by the Supervisory Board. The General Meeting, at which a new
Supervisory Board will also be elected, is scheduled for July 12, 2001.
Dr. Joachim Fleing; Investor Relations; Telefon: +49 (0) 60 32 308-0; Telefax:
+49 (0) 60 32 308-2013; E-Mail: boerse@heyde.de
end of ad hoc announcement, (c) DGAP 10.04.2001
Issuer’s information/explanation remarks concerning this ad hoc announcement:
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WKN: 602670; Index: NEMAX 50
Listed: Neuer Markt Frankfurt; Freiverkehr in Berlin, Bremen Düsseldorf,
Hamburg, München, Stuttgart, Hannover
100804 Apr 01
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