Heyde AG
Ad hoc-Service: Heyde AG english
Ad-hoc announcement sent by DGAP.
The sender is solely responsible for the contents of this announcement.
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(Bad Nauheim 23. Februar 2001) Heyde AG continued its aggressive growth strategy
in fiscal 2000, enabling it to almost double its business volume. The Heyde
Group reported sales of DM 341 million, up 85% on 1999 revenues of DM 180
million. Organic growth, excluding acquisitions, was 25%. As a result of the
unexpectedly weak fourth quarter experienced through the entire IT industry,
revenues came in at more than DM 19 million below target.
Heyde’s preliminary operating result (EBIT) according to US-GAAP of almost DM 3
million was considerably lower than planned. The company blames this on the
lackluster fourth quarter along with unadjusted expenditures and on a number of
unforeseeable events which reduced its expected business volume by almost DM 20
million.
As a result of these developments, the company’s founder, Dieter Heyde, decided
to surrender his position as chairman of the board of management. The
supervisory board gave its consent. Dieter Heyde declared to be willing to join
the supervisory board. Board member, Dirk Wittenborg, was appointed new chairman
of the management board. Bertram Salzinger was nominated deputy chairman,
whilst Klaus Hardy Mühleck relinquished his duties in the course of the
restructuring,
Following a detailed analysis of the organization’s weaknesses, the new
management took urgent action to implement a far-reaching plan of action known
as “Challenge H”. Due to this process and due to the costs related to the
planned restructuring, 2001 revenues are expected to grow by 15% to DM 400
million and generate an operating profit of DM 10 million.
For further information:
Joachim Fleing
Investor Relations
Telephone: +49 (0 60 32) 308-0
Fax: +49 (0 60 32) 308-2013
E-Mail: boerse@heyde.de
end of Ad hoc-announcement, (c) DGAP 23.02.2001
Issuer’s information/explanation remarks concerning this ad hoc announcement:
In conjunction with its acquisition of GIFTS Software, Inc., New York, Heyde
Group has just announced revenues of EUR11.5 m for January 2000 and a pre-tax
loss of EUR3.2 m.
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WKN: 602670; Index: NEMAX 50
Listed: Neuer Markt Frankfurt; Freiverkehr in Berlin, Bremen Düsseldorf,
Hamburg, München, Stuttgart, Hannover
232036 Feb 01
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