Pironet NDH AG: PIRONET NDH shows improved profitability

Pironet NDH AG / Half Year Results

24.08.2010 11:06

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PIRONET NDH shows improved profitability

Cologne, 24 August 2010: PIRONET NDH made further progress in the first
half of 2010. Although the rise in turnover was only minimal, the group's
profitability improved markedly. The package of cost-cutting measures
applied from the second half of 2009 is taking effect. PIRONET NDH is on
the brink of breaking even, whereas the company was still in the red during
the same period last year. Both the EBIT (EUR -0.2 m against EUR -0.7 m)
and the financial results (EUR 0.2 m against EUR -0.4 m) were improved,
meaning that profits before tax were just about in the black.

At the same time as this turnaround, earnings also showed an improvement in
quality. While internally produced and capitalised assets still lay at
around EUR 2.9 m during the same period last year, during the period under
review they were cut by 41% to EUR 1.7 m. This, combined with cutbacks in
investment (by -58% to EUR 3.0 m), generated free cash flow. On balance,
net liquid assets increased considerably, from EUR 12.0 m at the end of
2009 to EUR 13.7 m on 30 June 2010.

The decision to set up PIRONET NDH as a holding company has proven to be
well-founded and precedent-setting. The five independent units act as
stand-alone brands with the corresponding commercial freedoms required to
take advantage of any opportunities for growth that appear on the market.
In this respect, there has been some activity in the first six months of
the current financial year, especially as regards acquiring new customers
and generating new business, with some noteworthy deals being made,
particularly in the fields of ITK Outsourcing and Consulting & Design.

In summary, while PIRONET NDH is moving in the right direction, more work
needs to be put into software sales. The board is not satisfied with what
has been achieved in this field in the first half of the year, although
discussions, negotiations and projects with our customers leave us feeling
confident that considerable advances will be made as the year progresses.

The management board

About PIRONET NDH AG
PIRONET NDH AG offers the market a unique portfolio of solutions for
handling digital content and data. This includes consultancy, software,
integration and outsourcing services. PIRONET NDH AG is a corporate group
that brings together five companies specializing in the five different
business areas ICT outsourcing, consulting and design, content management
solutions as well as IT-solutions for the industries retail / CPG and
financial services. PIRONET NDH AG was founded in 1995 and is based in
Cologne. Since 2000, it has been listed on the German stock exchange. The
Group of companies employs more than 500 people working in 20 different
countries and posted sales figures of around 60 million Euros in the last
financial year (2009). For further information, please visit:
www.pironet-ndh.com




Press contact:
PIRONET NDH AG
Investor Relations
Von-der-Wettern-Straße 27
D-51149 Köln
Phone: +49.2203.935 30-3951
Fax: +49.2203.935 30-3959
Email: ir@pironet-ndh.com





24.08.2010 Ad hoc announcement, Financial News and Press Release
distributed by DGAP.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language:     English
Company:      Pironet NDH AG
              Von-der-Wettern Str. 27
              51149 Köln
              Deutschland
Phone:        +49 (0)220 393530 - 39
Fax:          +49 (0)220 393530 - 39
E-mail:       ir@pironet-ndh.com
Internet:     www.pironet-ndh.com
ISIN:         DE0006916406
WKN:          691640
Listed:       Regulierter Markt in Frankfurt (General Standard);
              Freiverkehr in Hamburg, München, Berlin, Düsseldorf,
              Hannover, Stuttgart
 
End of News                                     DGAP News-Service
 
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