CORPORATE NEWS RELEASE
Berlin, 20 May 2020 - Beta Systems Software Aktiengesellschaft (BSS, ISIN DE000A2BPP88) has completed its first half of the 2019/20 fiscal year (October 1, 2019 to March 31, 2020) with consolidated group revenue according to IFRS of around EUR 38.1 million (same period in 2018/19: EUR 26.9 million). Consolidated group earnings before interest, taxes, depreciation and amortisation (EBITDA) according to IFRS - taking into account the effects of the new IFRS 16, which is to be applied for the first time in the current fiscal year 2019/20 - amounted to approximately EUR 11.4 million. Excluding the effects of IFRS 16, EBITDA amounts to around EUR 10.0 million (same period last year: EUR 6.9 million). Consolidated group earnings before interest and taxes (EBIT) in accordance with IFRS will be around EUR 8.9 million (previous year: EUR 6.0 million).
As expected, revenues and both operating result figures have thus increased compared with the previous year's figures and are well within the forecast range.
The consolidated balance sheet total increased to around EUR 112.5 million as of March 31, 2020 compared to September 30, 2019 (September 30, 2019: EUR 87.0 million). Consolidated equity totalled around EUR 59.2 million as of March 31, 2020 (September 30, 2019: EUR 52.5 million).
Taking into account the contributions to the cash pool of Deutsche Balaton AG and minus bank liabilities, Beta Systems Software AG had a total of EUR 43.1 million in short-term financial resources available as of March 31, 2020 (September 30, 2019: EUR 31.9 million). The operating cash flow of EUR 13.9 million including the effects of IFRS 16 or EUR 12.6 million without the effects of IFRS 16 was significantly higher than EBITDA and the value of the same period of the previous year (EUR 10.6 million).
As already announced in the ad hoc announcement of May 7, 2020, the Management Board of Beta Systems Software AG has raised the upper value of the previous forecast range for group earnings before interest, taxes, depreciation and amortisation (EBITDA) for the current financial year - excluding the effects of IFRS 16 - from EUR 12.0 million to EUR 14.0 million due to the good order and cost situation. The upper value for the consolidated group operating result (EBIT, earnings before interest and taxes) was also raised from previously EUR 10.0 million to EUR 12.0 million. EBITDA is thus forecasted - without taking into account the effects of IFRS 16 - to range between EUR 9.0 million and EUR 14.0 million (previously EUR 9.0 to 12.0 million). Including the effects of IFRS 16, EBITDA is estimated at between EUR 11.0 and 17.0 million. The new range for EBIT is between EUR 7.0 and 12.0 million (previously EUR 7.0 to 10.0 million). Group revenues are still expected to be between EUR 67.0 million and EUR 74.0 million.
The ranges of the forecast reflect the still not fully predictable development of the COVID 19 pandemic during the course of the year. The economic distortions caused by the pandemic severely impair the predictability and therefore lead to a significant degree of forecasting uncertainty.
The complete half-year financial report (in German) is available for download on the Beta Systems Software AG website.
End of the corporate news release
Beta Systems Software AG
Beta Systems Software Aktiengesellschaft (BSS, ISIN DE000A2BPP88) has been supporting companies with complex IT system landscapes and demanding IT processes in the financial services, manufacturing, trade and IT services sectors for more than 35 years. Rising transaction volumes, data volumes, compliance standards and the increasing complexity of IT networks place the highest demands on throughput, availability, traceability and security of the software products and solutions used. Beta Systems' portfolio is used here for the automation, documentation, analysis and monitoring of IT processes in the data center, access control, monitoring of the IT infrastructure and security as well as the control of IT services.
Beta Systems was founded in 1983, is listed in the Scale segment of the German Stock Exchange and employs around 650 people group-wide. The company is headquartered in Berlin - other important development sites are located in Cologne, Munich, Neustadt (Weinstrasse), Rietheim-Weilheim, Rengsdorf, Szczecin and Wroclaw. Beta Systems is active nationally and internationally with more than 20 of its own group companies and numerous partner companies. More than 1,000 companies around the world use products and solutions from the Beta Systems Group, which is one of the leading medium-sized and independent software providers in Europe.
You can also visit Beta Systems at: www.twitter.com/BetaSystems, www.facebook.com/BetaSystems and www.xing.com/companies/betasystemssoftwareag.
Beta Systems Software AG
Phone: +49 (0)30 726 118-0
Fax: +49 (0)30 726 118-800