News

HERMES SoftLab finished 2005 above expectations

Ljubljana, 16 February 2006 – HERMES SoftLab presented estimated 2005 results and plans for 2006 at today’s press conference.

Our fiscal year 2005 was successful as the company fulfilled the business plan and closed the year with sound profit. According to the first estimates the unaudited consolidated sales revenue reached 34.5 million euros, scorring 13 percent growth on 2004. Operating profit (EBIT) is expected to exceed 2 million euros.

The management board and supervisory board adopted 2006 Budget in December 2005. We plan a 7 percent sales growth in 2006. Investments in 2006 will exceed 4 million euros, targeted mostly towards development of the sales and marketing activities, hardware and software, R&D and employee training.

Peter Testen, CEO of HERMES SoftLab said: »Our main goal is company growth and transformation from a software development company to a hi-tech solutions and services provider. We will further expand our offer for telecoms, financial institutions and public sector. Within the offering for financial institutions our offering is expanded with solutions for insurance companies. We plan to increase our business in the field of application modernisation and offer integrated e-business solutions, harmonised with the European standards. Despite our focus onto the Slovene market we remain an export-oriented company, with more than 80 percent of services and products sold abroad. In 2005 we increased our presence in Austria, France and Ireland.«

The Supervisory Board will discuss audited financial statements of the Group in May 2006. The Annual General Meeting of shareholders is planned for June 2006.