Search Follow us

Beta Systems (BSS)

Business description

Beta Systems provides data centre intelligence (DCI) solutions which enable efficient and secure bulk processing of data and Identity Access Management solutions (IAM). The company’s headquarters are in Berlin and has sales and support offices in 18 markets globally. Approximately 68% of sales are derived in the DACH region.

Stock data

Market cap.€119.4m
Last close€18.90
High / Low (52 weeks)€29.5 / €15.6
Stock market listingDB
Forecast net debt (m)N/A
Forecast gearing ratio (%)N/A
TeamTechnology
SectorTechnology

Price performance

%1m3m12m
Actual7.11.143.5
Relative *6.4(0.7)26.6

* % Relative to local index

Other companies in sector Show

1Spatial 7digital Group
accesso Technology Group ADVA Optical Networking
Advanced Computer Software Group Advanced Micro Devices
AIXTRON Aladdin Blockchain Technologies
Algomizer All for One Steeb AG
Allocate Software Allot Communications
Alpha and Omega Semiconductor Alphapoint Technology Inc
Amazon Amino Technologies
ANADIGICS appScatter
Arria NLG artec technologies
AsiaCell AT&S Austria Technologie & Systemtechnik
Bigblu Broadband Blancco Technology Group
blinkx Blue Prism
blur Group Boku
Brady Bulletproof Group
Carclo Catapult Group International
Celltick Technologies CENIT
CentralNic Cerillion
CityFibre Infrastructure Holdings Claranova
Cliq Digital CML Microsystems
CoAssets Codere
Comptel Covata
Craneware CREALOGIX Group
Cyan Cypress Semiconductor
DATAGROUP DDD Group
Dillistone Group door2door
dotDigital DSP Group
e2v technologies Eagle Eye
Eckoh Elmos Semiconductor
EMIS Emulex
Endace EnWave Corporation
Epipoli eServGlobal
Esker Evolving Systems
EVR Holdings PLC Expert System
Facebook Featurespace
FFastFill FinTech Group
First Derivatives First Sensor
Focus Solutions Group Foresight Autonomous Holdings
Forward Industries FreeAgent
Freelancer Fusionex International
Games Workshop Group Gamma Communications
GB Group GBST Holdings
GeoOp GetBusy
GFT Globo
GO internet Greek Organization of Football Prognostics
GVC Holdings Himax Technologies
Hrvatski Telekom ifa systems
ikeGPS Group Infinera
Inmarsat Innovation Group
InVision IQE
IS Solutions ISRA VISION
IT Competence Group IXYS
Jenoptik K3 Business Technology
Kainos Kalibrate Technologies
Kape Technologies Keywords Studios
Learning Technologies Group LRAD Corporation
Magix Manpower Software
Manx Telecom Manz
Max 21 Maxima Holdings
Medicsight Mensch & Maschine Software
Mercia Technologies Micro Focus International
Micron Technology Migme
Mobile ecosystems Mobotix
Monitise Montage Technology
Morse mVISE
My Net Fone Mynaric
Nano Dimension Nanoco Group
nearmap Nemetschek
Netcall NetCents
NetDimensions Netflix
Nexus Management NFON
O2Micro International OMG
OmniVision Technologies Orion Health Group
Osirium Technologies Outsourcery
Panorama Synergy Pantaflix
Patsystems Paysafe Group
Pebble Beach Systems Group Pelatro
Pericom Semiconductor Phitek
Piteco PLX Technology
Pointer Telocation Pricer
Prodware PSI
Pure Wafer QSC
Quartix Holdings Real Estate Investar Group
REALTECH Redflex Holdings
Redstone Reed Elsevier
Reply SpA Results.com
Rex Bionics Rheinmetall
RM S&T
SCISYS Group Secunet
Seeing Machines Sepura
Serko Seven Principles
Siemens Sigma Designs
Silicom Silicon Image
SimiGon SinnerSchrader
SITO Mobile SLI Systems
Smartpay Holdings SNP Schneider-Neureither & Partner
Software AG Solera
Solutions 30 Spansion
Spirent Communications SQS Software Quality Systems AG
Stadium Group StatPro Group
STEMMER IMAGING Store Electronic Systems
Straker Translations SuperCom
Synchronica Taptica
Technology sector TerraNet
Texas Instruments The NAGA Group
Thin Film Electronics Thoughtonomy
Tikit Group Toumaz
Track Group TXT e-solutions
TZ Limited Ubisense Group
UMT United Mobility Technology United Power Technology
VASCO Data Security Vectron Systems
Virtual Piggy Vista Group International
Vitec Vizrt
VMob Group WANdisco
Webinar Wincor Nixdorf
WorkPlace Systems International XP Power
Xploite Xplore Technologies Corp
YuuZoo

Company news

Investment summary

While FY18 numbers dipped as management expected, revenue and EBITDA were in the top half of guidance. The results reflected weaker software licence renewals, which reduced revenues and slashed margins. FY18 cash generation was strong, with operating cash flow up nearly 60% at €8.3m and the maintenance book continued to grow with the help of acquisitions. In our view, the shares are attractive, noting the potential sub 6x FY20 EV/EBITDA ratio, given the strong cash generation and high level of recurring revenues (we estimate 80%+ in FY18).

Last updated on 31/01/2019

Key management

Dr. Andreas Huth , Member of the Board
Armin Steiner, Member of the Board
Wilhelm K.T. Zours, Head of the Supervisory Board

Company address

Alt-Moabit 90d
Berlin
10559
Germany
View website