TTL Beteiligungs- und Grundbesitz-AG

Earnings Release • Nov 29, 2002

News Details

Ad-hoc | 29 November 2002 08:01

TTL Info. Technology AG english

TTL AGs core business grows Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– TTL Information Technology AG, Munich, is a provider of integrated IT services (Neuer Markt SIN 750 100, Ticker TTO). In the first nine months of the current business year, the TTL Group achieved a turnover of Euro 38.8 m, compared to Euro 43.7 m in the preceding year. This signifies a reduction of Euro 4.9 m (11.3 %) on a like-for-like basis. The reasons for this, as explained in the mid-year report, are to be found in lower sales revenues at the subsidiaries 1st DATA Solution Vertriebs-GmbH and TTL Consult IT GmbH. TTL AGs core business (“Enterprise Solutions”) was up by Euro 3.6 m (11.1 %). The EBITA total Euro minus 1.7 m. In all, earnings after taxes come to Euro minus15.1 m (preceding year: Euro minus 4.1 m). Earnings have been significantly affected by the one-off writedowns on the goodwill of 1st DATA Solution Vertriebs-GmbH and TTL Consult IT GmbH, already implemented on 30 June 2002, and totaling Euro 8.9 m. In addition, the company has formed a further provision into the special fund, producing a cumulative total for the business year of Euro 1.2 m on the cutoff date of 30 September 2002. During the period under review, the company gained Euro 500,000.– as the result of a settlement terminating legal proceedings against the bank handling the special fund. TTLs affiliate BDI Laguna is below budget in the years 3rd quarter, and from a turnover of US$ 130.57 m has achieved an operating income of US$ 3.8 m. The percentage holding in BDI Laguna Holdings, Inc. owned by TTL International AG had been increased to 24.87 % by the buy-back procedure for its own shares carried out by BDI Laguna Holdings, Inc. By parting with 4,184 shares, the percentage holding was reduced to 19.073 %. This has hit quarterly earnings by a netted-out Euro 2.4 m. The earnings per share, weighted on a pro rata temporis basis, are minus Euro 2.92 (preceding year: minus Euro 0.83). The order volume on 30 September 2002 totaled Euro 6.7 m. You will find detailed information under www.ttl-ag.de in the Investor Relations section and in our annual report. Munich, 29 November 2002 Shareholder Hotline: +49(0)89/381611-12 end of ad-hoc-announcement (c)DGAP 29.11.2002 ——————————————————————————– WKN: 750100; ISIN: DE0007501009; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover, München und Stuttgart 290801 Nov 02