Preliminary financial figures showing loss for 2010, review of the strategic options in the segment Master Data Services and management-buy-out in the segment Finance IT Services

(PresseBox) ( Cologne, )
According to the preliminary financial figures for the financial year 2010, the PIRONET NDH Group has not achieved its goal to reach a positive result in the reporting year. The development of the different segments was varying. While the segments ICT Outsourcing as well as Consulting & Design met the expectations, the other segments missed the planned objectives.

Although sales (adjusted for the segment Finance IT Services which is accounted for as discontinued operations) increased in 2010 from 51.2m EUR to 55.4m EUR, EBT fell in the continued segments to -10.3m EUR (comparable EBT in previous year: -6.6m EUR). This development in the result was primarily caused by non liquidity-related value decreases of own software products (6.8m EUR), client bases (1.4m EUR) and depreciation of goodwill and "at equity" investments (together 0.7m EUR). In addition, the discontinued segment Finance IT Services recorded an EBT of -3.3m EUR (comparable EBT in previous year: -1.0m EUR). Due to the loss of the controlling position in SA2 Worldsync GmbH, such company will no longer be fully consolidated as from 1 January 2011, but accounted for as an affiliated company under the "at equity" method.

Despite these negative factors, Pironet succeeded in expanding the stock of liquid assets of about 2.7m EUR to 14.7m EUR at year-end (of which around 1.2m EUR are allocated to the discontinued segment Finance IT Services). The PIRONET NDH Group continues to operate without any bank debt and has an equity ratio of more than 60 %.

The Group's annual financial report for 2010 will to be published by the end of April 2011.

Review of the strategic options in the segment Master Data Services

Due to the development in the year 2010, the Management Board has decided on 24 March 2011 to review all strategic options (including the entering into strategic partnerships or sales) for the segment Master Data Services (SA2 Worldsync GmbH, SA2 Retail AG, SA2 Exchange GmbH). One important assumption is that these companies remain reliable partners for customers and employees.

Management-buy-out in the segment Finance IT Services

The Management Board of Pironet NDH AG has decided on 24 March 2011 to sell the loss-making activities of agentes AG, which represents the major part of the segment Finance IT Services, in an asset deal to the management of agentes. The proposed purchase price is 1 EUR plus an earn-out in dependence of a 3-year EBIT. Irrespective of that, Pironet NDH AG grants liquidity assistance supporting the business continuation in the amount of estimated 1.5m EUR. The sale is expected to be consummated by 31 March 2011, the conclusion of the contract and the fulfillment of several condition precedents (inter alia approval by corporate bodies) are still pending.

Changes in Management Board

The company announces furthermore that Ulf Adebahr resigns as member of the Management Board of Pironet NDH AG at his own request and by mutual agreement as per 31 March 2011. The Management and the Supervisory Board thank Ulf Adebahr for his longtime service in the company and wish him all the best for his future.

The Management Board

WKN: 691 640
ISIN: DE0006416406
Notiert: Geregelter Markt in Frankfurt am Main (General Standard), München, Stuttgart, Düsseldorf, Hamburg, Berlin-Bremen (Freiverkehr)
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