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Large German CMS player in big trouble
2002-04-14 admin
On Friday, Germany’s largest homegrown player in the CMS market, Ceyoniq from Bielefeld, has applied for bankruptcy because of their desastrous drop in their share price on the Frankfurt new market.
The drop was caused by the very disappointing financial results with a loss of 90.4 million euro over fiscal year 2001, with revenue not attaining the promised 114 to 120 million euro but only 103 million euro.
In 2000 sales reached just under 75 million in 2000.
CEO Gerd Bührig has left the firm Friday and is replaced by Jürgen Brintrup, the former Ceyoniq CEO.
He said Monday that new investors will put some
millions in the company in the coming weeks.
The company also has offices in the UK, in the USA, in the Netherlands and Austria, France, Singapore, Spain and Switzerland. On Monday no Ceyoniq official could be reached for comment on the future of these subsidiaries.
The official receiver is the Bielefeld lawyer dr. Hartmut Stange.
According to comments in the reputable Frankfurter Allgemeine Zeitung,
investors have totally lost their faith in the firm, after the stock reached an allt ime high of 36.20 euro, while now it is worth 1.68 euro.
Ceyonic has a relatively stable customer base in banking and insurance, originally delivering document management systems and later combining this with content management.
The company entered the stock exchange relatively
long ago, in 1998, then under the name of CE Computer.
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