Heiler Software AG

euro adhoc: Heiler Software AG
Annual Reports
Heiler Software releases figures for fiscal 2003/04

--------------------------------------------------------------------- Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement. --------------------------------------------------------------------- - Sales revenues in 2003/04 increased by 13% to 5.3 million Euro - High sales growth of Q2 and Q3 continued in Q4 (+65%) - EBIT slightly improved - Net income influenced by non-cash special effect - Liquidity and shareholders’ equity remains at a high level Stuttgart, November 25, 2004 - Based on preliminary consolidated IFRS figures for fiscal 2003/04 (September 30), Heiler Software AG was able to increase its sales revenues by 13% to 5.3 million Euro (prior year: 4.7 million Euro). The sales growth rate in the fourth quarter of fiscal 2003/04 increased to 65% to revenues of 1.5 million Euro, which is a further increase to the good growth rates of the second quarter and third quarter of 57% and 56%, respectively. License-, maintenance- and Application Service Providing (ASP) revenues for the fourth quarter each reached the highest level of the fiscal year 2003/04. The sales growth of the fiscal year 2003/04 stems mostly from consulting, maintenance and ASP revenues. Consulting revenues increased by 25% to 3.2 million Euro, maintenance and ASP revenues increased by 39% to 1.2 million Euro. In comparison, license revenues decreased by 0.5 million Euro to 0.8 million Euro, which is due to the change of the sales structure from purely license sales to long-term license and ASP agreements. Under these long-term agreements, revenues are recognized over the contract period. Consolidated earnings before interest and taxes (EBIT) improved from -2.7 million Euro to -2.6 million Euro. Restrictions on the usage of tax loss carry-forwards in Germany, which were imposed for the first time in 2004, led in conjunction with the tax planning to a one-time, non-cash influencing impairment of the deferred tax assets of 2.6 million Euro to 0.9 million Euro. Mainly because of this special tax effect the net loss increased from 1.8 million Euro to 4.9 million Euro. Earnings before taxes decreased from -2.2 million Euro to -2.3 million Euro, which is due to a lower interest income. At fiscal year end, cash and cash equivalents amount to 16.9 million Euro (prior year: 19.3 million Euro) and shareholders’ equity amounts to 18.4 million Euro or 93% of total assets (prior year: 23.2 million Euro or 96% of total assets). Therefore, the Company still retains a very solid financial position. The finalized figures will be published together with the annual report for fiscal year 2003/04 on December 16, 2004. More information at www.heiler.com. end of announcement euro adhoc 25.11.2004 13:57:09 --------------------------------------------------------------------- Further inquiry note: Constanze Hay Tel.: +49 (0)711 13984150 E-Mail: chay@heiler.com Branche: Software ISIN: DE0005429906 WKN: 542990 Index: Prime Standard, CDAX, Prime All Share, Technologie All Share Börsen: Frankfurter Wertpapierbörse / regulated dealing Berliner Wertpapierbörse / free trade Hamburger Wertpapierbörse / free trade Baden-Württembergische Wertpapierbörse / free trade Börse Düsseldorf / free trade Niedersächsische Börse zu Hannover / free trade Bayerische Börse / free trade Bremer Wertpapierbörse (BWB) / free trade

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