Mosaic Software AG
Mosaic Software AG: Results for HY1 2007
MOSAIC SOFTWARE AG / Half Year Results/Half Year Results Release of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- Mosaic announces results for HY1 2007 Bonn, 17.08.2007 – After a positive business trend in 2006, for Mosaic Software Aktiengesellschaft (WKN: 710020 ISIN: DE0007100208, General Standard) the first six months of 2007 were more difficult than expected. The earnings situation continued to be impacted by the extensive realignment and consolidation process implemented some 15 months ago. This involved a concentration on strongly growing medium-sized and large com-panies with correspondingly large projects. Despite the positive trend in the Consulting business and further sales successes, revenues were not according to plan, due to decisions in large customer projects being put back. In the comparable period of 2006, revenues were impacted strongly by a large closing on broad-based rights to a MOSAIC solution at the end of the second quarter of 2006. Mosaic achieved its targets in optimising the cost structures, adjust-ments to expenditures for premises, and the development of personnel expenditure, re-sulting in a scheduled reduction of the number of employees. In line with International Financial Reporting Standards (IFRS), in the first six months of 2007 Mosaic generated revenues of EUR 1,054 thousand after EUR 3,491 thousand in the comparable period of the previous year. EBITDA was -EUR 1,116 thousand (2006: EUR 638 thousand). EBIT totalled -EUR 1,408 thousand after -EUR 145 thousand is the first half-year of 2006. In comparison to the first six months of 2006 (-EUR 140 tho-usand), the net result in the first half of 2007 was -EUR 1,392 thousand. Rolf A. Mugrauer, CEO at Mosaic Software Aktiengesellschaf commented, 'Mosaic is still in a phase of redimensioning. The critical period is not yet over. The first half of 2007 was considerably under our expectations. Even though we have a considerably better positioning today than last year. Realignment measures and the consolidation process have borne fruit. We have successfully positioned Mosaic in the consulting business. By combining processes and software development and various clearing centres in one clearing centre, we have made cost savings running into millions. These measures were and are of fundamental importance for our company. Instead of processing many smaller projects we are again processing lager projects. A further positive fact is: With the MOSAIC BXS communication platform, we have strengthened our competitive position and are accessing markets on which we were not previously represented.' The half-year finance report released today includes further information and a commen-tary on the business development (www.mosaic-ag.com). DGAP 17.08.2007 ---------------------------------------------------------------------- Language: English Issuer: MOSAIC SOFTWARE AG Am Pannacker 3 53340 Meckenheim Deutschland Phone: +49 (0)222 5882-111 Fax: +49 (0)222 5882-485 E-mail: ir@mosaic-ag.com Internet: www.mosaic-ag.com ISIN: DE0007100208 WKN: 710020 Indices: Listed: Geregelter Markt in Frankfurt (General Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart End of News DGAP News-Service ---------------------------------------------------------------------------
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