Posted on
27 | 06 | 2006

Annual General Meeting of HERMES SoftLab

Ljubljana, 27. June 2006 – The Annual General Meeting of shareholders of HERMES SoftLab was held in Ljubljana today. A total of 82.9% of share capital was reported at the Annual General Meeting.

In its introduction, the company’s Managing Board reported on the results for fiscal year 2005. Consolidated sales revenues of the HERMES SoftLab Group in 2005 amounted to SIT 8,340 million which represents growth of 14% from 2004. The growth was the result of a strong expansion of the scope of services for high-tech service enterprises, and an increase in the number of new customers reflecting the growth of the sales network.

According to the Slovenian Accounting Standards, The Group recorded SIT 362 million in profits after taxes in 2005, a 27% increase from 2004. Shareholders have adopted the proposal of the Managing and Supervisory Boards that the profit remains undistributed.

Peter Testen, President of the Managing Board and CEO of HERMES SoftLab: “The business year 2005 was a successful one for the HERMES SoftLab Group, marked by continued growth and focused investments, which have been an appropriate move. We have been successfully pursuing the goal of transforming the company from a software developer to provider of high-end IT solutions and services. HERMES SoftLab is pursuing its strategy to become a partner of choice for telecoms, financial institutions, and the public sector. Current HERMES SoftLab’s operations have been above the planned level and confirm a strong dedication to high growth.”

On the basis of the proposal put forward by the Managing and the Supervisory Boards, the Annual General Meeting adopted the information on the Annual Report and granted discharge to the Supervisory Board and the Managing Board.

Deloitte&Touche d.o.o. Ljubljana was appointed as the auditor for the business year 2006.