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Pironet: Management board change - 2nd quarter sees company break even
Cologne (ots) - Pironet AG, Cologne-based software producer in content management, has released satisfying figures for the second quarter of this year. When presenting the company's latest interim report today, its management board chairman and founder Mehrdad Piroozram also announced his retirement from the company as of 31 August 2001. Upon his proposal, Mr. Hans-Werner Scherer, who already chaired the Pironet AG management board when the company successfully introduced its IPO, will become his successor as of 1 September 2001. Besides appointing Mr. Scherer as new management board chairman, the company's supervisory board also nominated Mr. Felix Höger who already was member of management board as its deputy chairman.
Mr. Piroozram, who will in future remain related to Pironet AG as a consultant and major shareholder, is leaving a well-performing company to his successor. This is proved by the figures for the first six months of this year showing sales of Euro 12.2 m (Euro 10.7 m in the first year-half, 2000) and a net result of Euro -0.8 m (-0.9 m last year). Following a bad start in the first quarter of this year, the second quarter saw Pironet AG achieve a balanced result and a positive cash flow of Euro 0.5 m. The company's liquid funds reached Euro 30.2 m at mid-year, representing 62 % of its balance amount total at this date and a capitalisation of Euro 2.07 per share.
The company's latest interim report can be loaded down under www.pironet-ndh.com/ir.
The Board of Management
ots Originaltext: Pironet NDH AG