BEKO Holding AG
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Annual Results 2001 BEKO Ing. P. Kotauczek GmbH in Accordance with HGB: slight
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Annual Results 2001 BEKO Ing. P. Kotauczek GmbH in Accordance with HGB: slight
drop in sales, earnings displayed upward trend
Vienna, March 21st, 2002.
In the fiscal year 2001, BEKO Ing, P, Kotauczek GmbH, a wholly owned subsidiary
of BEKO Holding AG essentially achieved its targets.
The individual accounts which were drawn up in accordance with the Austrian
commercial code displayed the following trend: sales in 2001 were 2.1% below the
value of the previous year. Operating profit was up 16% primarily due to cost
savings in the year under review.
The 11% drop in personnel numbers can be attributed to the precarious lack of
technical staff, natural fluctuation and cost reduction in the Administration
area.
HGB figures Unit 2000 2001 Change
Sales EURtsd. 72,510 70,980 -2.1%
Operating profit (EBIT) EURtsd. 2,187 2,537 +16.0%
EGT EURtsd. 2,090 2,389 +14.3%
Net profits EURtsd. 1,489 1,606 +7.9%
Employees (average) Persons 959 856 -10.7%
BEKO Informatics
The business trend in the 1st and 2nd quarters was very good but the first
negative changes became apparent in the 3rd quarter. The overall economic
situation was responsible for a sharp decline in orders received in the 4th
quarter.
The tense general economic situation which prevailed towards the end of the year
eased the situation considerably in the Personnel area.
This extraordinary deterioration of the market in the 4th quarter 2001 led to
the initiation of structural measures in the Informatics segment and personnel
resources were adapted to meet market requirements. The measures will be
implemented in the 1st quarter of 2002.
BEKO Engineering
In the period under review, the Engineering division almost achieved a two-digit
sales growth compared to the previous year. The sales trend over the full year
was very satisfactory but was nevertheless, slightly behind the projected plan
from the 2nd quarter onwards. Slow decision-making processes on the part of the
customers were indicative of the economic slowdown in the 4th quarter.
BEKO-help.com
BEKO-help.com did not achieve the projected sales targets in 2001. The rate of
development especially in the User Help Desk area was much slower than prognosed
in various market studies.
The merging of Sales and BEKO Informatics and the broader access to the
customers as a result of this consolidation is already displaying first positive
effects.
Outlook:
The deterioration of sales and earnings in the 4th quarter will continue –
compared to the 1st quarter 2001 – in the 1st quarter 2002. The adversely
affected Informatics market is expected to stabilize in all business segments in
the 1st quarter of 2002. A significant countermovement is not anticipated until
the end of the 2nd quarter at the earliest. The position of overall solution
provider will be further extended in 2002 through cooperations and
partnerships.
Effects on the Group Financial Statement of BEKO Holding AG
The Group Financial Statement of BEKO Holding AG is drawn up in conformity with
the International Accounting Standards (IAS). In the case of BEKO Ing. P.
Kotauczek GmbH, this also necessitates a conversion of HGB values to IAS values.
This produced the following key figures:
IAS figures* Unit 2000 2001 Change
Sales EURtsd. 72,510 70,980 -2.1%
Operating profit (EBIT) EURtsd. 3,421 2,475 -27.7%
EGT EURtsd, 3,323 2,328 -29.9%
Net profits EURtsd. 2,335 1,557 -33.3%
Employees (Average) Persons 959 856 -10.7%
*The IAS figures presented here will have a negative effect on the annual result
of BEKO Holding AG for 2001 which will be published on March 29th, 2002.
In 2001, the overall difference between IAS and HGB is minimal. The IAS result
was significantly higher that the HGB value in 2000. Here, a comparison of the
IAS results with those of the previous year shows that these have developed much
differently that the corresponding HGB values. This can be attributed to
varying methods of calculating the severance payment reserves. In 2000, the HGB
accounts displayed severance payment costs that were approx. 1.3 m. EUR higher
than the corresponding value in the IAS statement.
Information on BEKO Holding AG
BEKO Holding AG positions itself as a financial holding company with the aim of
building up an extensive network of investments in the IT service sector. The
focus here is on the following three defined IT segments:
– BEKO Classic for IT, engineering and standard software
– BEKO Voice Communication for help desks, call centres and Customer
Relationship Management (CRM)
– BEKO ASP & dotcom for Application Service Providing (ASP), B2B platforms and
e-Trading.
The holding company itself concentrates on the initiation of strategic alliances
and investments and on mergers & acquisitions business.
BEKO Holding AG
PR/IR & Communication
Dr. Max Höfferer
Modecenterstrasse 22/A1, A-1030 Wien
Tel.: 0043 1 797 50 – 244, Fax: 0043 1 797 50 – 8004
max.hoefferer@beko.at, www.beko-holding.com
end of message, (c)DGAP 21.03.2002
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