euro adhoc: Heyde AG
Heyde Releases Preliminary Figures for Fiscal 2001 (E)
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
(Bad Nauheim, February 12, 2002) The Heyde Group announced today preliminary revenues in fiscal 2001 of approximately 120 million Euro, a slight increase compared to the 115 million Euro of fiscal 2000. The preliminary operating result (EBITA) according to IAS is at almost 50 million Euro compared to -24,2 million Euro of last fiscal year including one off charges of 20 Million Euro due to restructuring activities within Heyde AG. As a result of the weak fourth quarter in 2001 experienced through the entire IT industry, revenues came in at 25 million Euro and operating results were at -6,5 million Euro. Third quarter revenue was at 29,4 million Euro with an EBITA at -7,5 million Euro. The results can be attributed to the deviations from plan of the Spanish Heyde company totaling -2,7 million Euro. The Heyde Board took immediate action replacing the local management and introduced a restructuring program. With regard to the macroeconomic development, sales planning figures had to be adjusted: the Heyde Group now expects sales to drop by 15 % - 20 % to below EUR 100 million. Additional restructuring measures are in preparation, including an even stronger refocussing on the strategically attracive core activities. Infrastructure costs will be adjusted to the lower sales expectations resulting in a massive cost reduction. Details will be presented at the annual press conference on March 19th, 2002. As the 2001 restructuring fell short of the expected results, CEO Dirk Wittenborg has offered to resign. This has been accepted by the Supervisory Board effective today. CFO Axel Buchholz has been appointed new Chief Executive Officer. Bertram Salzinger continues to serve as Chief Operating Officer. For further information Investor Relations Phone: (0 60 32) 308-0 Fax: (0 60 32) 308-2013 E-Mail: boerse@heyde.de
end of announcement euro adhoc 12.02.2002
Further inquiry note:
Fleing Joachim