Heyde AG
Heyde AG english
Restructuring at Heyde AG continued successfully
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Restructuring at Heyde AG continued successfully
Operating Loss in Q3 amounts to EUR 7.5 million after EUR 17.2 million in Q2
(Bad Nauheim, 26. October 2001) According to preliminary figures, the Heyde
Group’s sales in Q3 of fiscal year 2001 amounted to almost EUR 30 million, in
line with planning. The operating loss on an EBITA basis was reduced by nearly
EUR 10 million as against Q2, but is an estimated EUR 3.5 million higher than
previously announced due to additional restructuring expenses. Given the
foreseeable success of additional restructuring measures that are already under
way, the Heyde Group has confirmed that it will break even on an EBITA basis in
Q4.
Additional factors which have affected income include: the loss of EUR 0.4
million in sales and earnings due to the insolvency of two customers in
Argentina; the creation of provisions amounting to a further EUR 0.6 million to
cover pending losses; expenses and provisions amounting to EUR 1.3 million for
additional consulting on restructuring, and expenses and provisions associated
with the departure of employees and related consulting and legal costs totaling
EUR 1.2 million.
As of September 30, 2001, the Heyde Group was able to reduce its net debt (bank
loans minus cash and cash equivalents) from EUR 30,9 million of June 30, 2001,
to EUR 17.3 million. Cash flow from operating activities within Heyde AG
(Systems Integration Germany) almost broke even in September 2001. The Heyde
Group will present its complete and final results for Q3 and the first nine
months of fiscal year 2001 as well as its budget planning for 2002 on November
9.
end of ad-hoc-announcement (c)DGAP 26.10.2001
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WKN: 602670; Index: NEMAX 50
Listed: Neuer Markt Frankfurt; Freiverkehr in Berlin, Bremen Düsseldorf,
Hamburg, München, Stuttgart, Hannover
260800 Okt 01
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