TTL Beteiligungs- und Grundbesitz-AG

Earnings Release • Nov 30, 2001

News Details

Ad-hoc | 30 November 2001 07:36

TTL Info. Technology AG english

TTL AG ups its turnover during the third quarter of 2001 as well Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– TTL AG ups its turnover during the third quarter of 2001 as well TTL Information Technology AG, Munich, a provider of integrated IT services (Neuer Market SIN 750 100) reports continued growth over the first nine months of this year as well. On 30 September 2001, the group had succeeded in upping its turnover to DM 85.5m (preceding year: DM 76.1m). This signifies growth of 12.3 % over the preceding year. When TTL AG is considered separately, the increase over 2000 is an impressive 25.5 %. Turnover is DM 19.8m (18.8 %) below the budgeted figure, while the operating result (EBITA), at DM 3.1m (preceding year: 6.9 million DM), was DM 3.9m (55.8 %) below budget as per 30 September. The drop in profits is attributable to the non-achievement of turnover and earnings targets at 1st DATA Solution Vertriebs-GmbH. As already reported, the restructuring initiatives conducted here mean that cost reductions amounting to DM 2m p.a. can be anticipated for the 2002 business year, so that a break-even result will be achieved. Goodwill write-down for the associates entailed an outlay of DM 3.5m as per 30 September 2001; the company has also formed a further valuation adjustment on the special fund, where the funds from the last cash capital increase have been invested. This valuation adjustment came to DM 4.4m on the cutoff date of 30 September. Due to the improved stock market environment, a write-up of DM 0.7m must be made in the years current 4th quarter. Profits after tax were accordingly minus DM 8.1m. This figure includes non- recurrent expenses entailed by the restructuring program, plus consultancy work within the context of acquisition projects. In last years equivalent period, the result was minus DM 0.3m. For 2001 as a whole, turnover is expected to reach DM 120m (plus10 %), with EBITA of DM 3m (minus 57 %). Profits after tax, however, will not be positive yet, due to the one-off burdens mentioned. The company continues to possess high reserves of liquidity. The integration process already announced was completed by the relocation early in November to the previous 1st DATA facility in Unterschleissheim. Munich, 30 November 2001, Shareholder Hotline: +49(0)89/381611-25 end of ad-hoc-announcement (c)DGAP 30.11.2001 ——————————————————————————– WKN: 750100; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München 300736 Nov 01