Beko: Sales Drop by 15%
The Austrian IT company Beko Holding AG has to accept sensitive decreases in sales and profits.
Beko: Sales Drop by 15% / Picture: © BEKO Engineering & Informatik GmbH & Co KG
The sales of the stock exchange listed IT services provider Beko fall, compared with the same period of last year, by 15% or € 41.2m to € 230.4m. Missed targets required the correction of sales, earnings and growth plans of the divisions and led to impairment of the value of the firm of € 10.2m. As a result, in spite of a significantly improved EBITDA, the operating income is significantly lower than the previous year’s.
The results are as follows: EBITDA € 10.4m (previous year: € +6.8 m), operating result €-9.4m (previous year: €-4.1m), financial income €-1.4m (previous year: € -0.6m), income before taxes €-10,8m (previous year: € -4.7 m), profit after tax € -10.1m (previous year: €-9.7m), profit for shareholders of the parent company € -11.0m (previous year: €-9.4m), earnings per share € -0.48 (previous year € -0.41). The group's total assets fell by € 22.6m to € 165.6m.
Shareholders' equity falls by € 11.9m to € 81.6m (49% equity ratio, end-September 2009 50%). Long-term liabilities decreases by € 7.6m to € 34.0m, the short-term debt are reduced by € 3.1m to € 50.0m.
"In the new financial year (2010/2011), we focus on the original core business of BEKO as well as the simplification of structures," says CEO Peter Kotauczek.