SHS VIVEON AG: Double digit growth in the first half year 2006

SHS VIVEON AG / Half Year Report



Announcement transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Martinsried, August 10, 2006 – SHS VIVEON AG, Martinsried, draws positive
balance for the first half year 2006. The company increased its output from
19.02 mn € by about 18% to 22.43 mn €. Decisive factors, among others, were
the accretions in the core operating businesses as well as the recent
take-overs. Growth was slightly held back by the reduced hardware sales of
the Spanish subsidiary SHS Polar in comparison to last year’s figures, but
only had a minor impact on operating margins. EBITDA with 0.63 mn €, is
approx. 34% up against last year’s comparable figure of 0.47 mn €. EBITDA
comprises provisions of 0.2 mn €, built in the second quarter 2006, for
ongoing rebranding measures of the entire SHS VIVEON group. The adjusted
EBITDA thus amounts to 0.83 mn € and corresponds to an increase of around
76%. Crucial for the groups´ net loss of minus 1.10 mn € in the first half
year 2006 (comparable period 2005: -0.08 mn €) are especially depreciation
and amortization of 1.75 mn €. Amortization mainly results from the
acquisitions of VIVEON AG and Systech Software GmbH.

Due to reporting date, receivables and work in progress increased, and led
to an operating cash flow of minus 1.39 mn € in the first half year 2006
(comparable period 2005: 0.03 mn €). At the end of the period cash and cash
equivalents of SHS VIVEON AG were at 1.32 mn € (comparable period 2005:
2.17 mn €).

“SHS VIVEON AG developed positively in the first half year of the current
fiscal year. Further we have created the conditions to participate even
stronger in future market opportunities”, explains Dirk Roesing, CEO of SHS
VIVEON AG. “The successful integration of the subsidiaries as well as the
upcoming rebranding of the SHS VIVEON AG shall generate further impulses
for the second half of 2006”, Dirk Roesing continues.

The full half year report is available for download on www.shs.de.


Martinsried-based SHS VIVEON AG is listed on the Prime Standard segment of
the Frankfurt Stock Exchange and operates subsidiaries in Spain and
Switzerland. The IT services provider focuses on offering customer
management and credit risk management solutions to companies with a broad
customer base. In 2005, the company recorded revenues of EUR 41 million.
The customers of SHS VIVEON AG include BMW Financial Services, Toyota
Kreditbank, Ingram Micro, Crédit Agricole, T-Mobile, T-Online, SüdLeasing,
Telefónica, amena, Barclaycard and other international companies in the
automobile, information and financial services sector. For more
information, see www.shs.de.


SHS VIVEON AG
Investor Relations
Tel.: +49 – 89 – 747257-37
e-mail: Investor.relations@shs.de 

cometis AG
Ulrich Wiehle
Tel: +49 – 611 – 205855-11
e-mail: wiehle@cometis.de



DGAP 10.08.2006 
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Language:     English
Issuer:       SHS VIVEON AG
              Fraunhoferstraße 12
              82152 Martinsried bei München Deutschland
Phone:        +49 (0)89 747-257-0
Fax:          +49 (0)89 747-257-10
E-mail:       investor.relations@shs.de
WWW:          www.shs.de
ISIN:         DE0005072409
WKN:          507240
Indices:      
Listed:       Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr
              in Berlin-Bremen, Stuttgart, München, Hamburg, Düsseldorf
 
End of News                                     DGAP News-Service
 
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