All for One Group SE — Earnings Release 2006

Nov 14, 2006

News Details

Ad-hoc | 14 November 2006 08:30

AC-Service Considerably Increases Sales and Earnings

Ad hoc announcement transmitted by DGAP – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. —————————————————————————— AC-Service Considerably Increases Sales and Earnings Sales growth of 63% in third quarter 2006, EBITA gains 59%. Forecasts for full year confirmed. Stuttgart, 14 November 2006 – AC-Service, a full-scale service provider focused on Managed IT Services, SAP Solutions and Human Resource Services, today published its quarterly report in which it details having finished the third quarter of 2006 with sales of EUR 18.0 million (prior year: EUR 11.1 million) and an EBITA of EUR 1.1 million (prior year: EUR 0.7 million). After the first nine months of 2006, AC-Service has increased sales by 54% to EUR 51.3 million (prior year: EUR 33.3 million). The nine-month EBITA improved from EUR 1.4 to 1.8 million for an EBITA margin to sales of 3% (prior year: 4%). All operating business divisions contributed positive earnings to this business performance. The nine-month earnings after taxes were minus EUR 1.3 million (prior year: EUR 0.6 million) and were negative as expected, due primarily to one-time expenses in connection with the acquisition financing for All for One Midmarket Solutions and a high income-tax expense, which for the most part has no impact on liquidity (deferred taxes). The nine-month earnings per share (IFRS) were minus 24 euro cents (prior year: 14 euro cents). The balance of accounts is healthy. As at 30 September 2006 shareholders’ equity accounted for 40% (31 Dec 05: 63%) of the balance sheet total, while cash and cash equivalents were EUR 11.4 million (31 Dec 05: EUR 11.9 million). Cash flows from operating activities improved to EUR 3.0 million (prior year: EUR 2.8 million) despite pre-tax earnings that were about EUR 1 million lower than those of the prior year and some EUR 0.6 million in cash used for the acquisition financing. The average nine-month staffing strength expressed in full-time equivalents was 415 (prior year: 301 FTEs) and there were 435 people (prior year: 309 people) employed in the AC Group as at 30 September 2006. Following a strong third quarter, the board of directors still maintains that the company will achieve the objectives announced in March 2006 with the presentation of the 2005 annual financial statements. Accordingly, sales for the year should be in the neighbourhood of EUR 67 to 70 million with an EBITA within the range of approximately EUR 2.4 to 2.9 million. Additional information at www.ac-service.com/english ————————————————————————— Information and Explaination of the Issuer to this News: Background Information on AC-Service AG Operating primarily in Germany, Austria and Switzerland, AC-Service AG is an industry focussed full-scale IT service provider for the mid-size business market. Market observers rank AC-Service AG among the leading companies serving the German-language market for SAP and HR services. AC-Service AG features a number of established brands including AC, ACCURAT, All for One, Process Partner and KWP. Originating in Switzerland, the AC Group has been operating for over 45 years, has amassed an impressive track record and now serves over 1,200 clients. With wide-ranging expertise in the whole of the IT value chain, AC implements integral solutions providing SAP licenses and software maintenance, industry solutions, business consulting, business intelligence, managed IT services on a ‘leading edge technology basis’, payroll and human capital management as well as HR business process outsourcing. With its outstanding service culture and extensive industry know-how, the AC Group makes claim to a quality leadership and is regularly recognised with awards for outstanding customer satisfaction and service quality. AC-Service AG pursues a clear growth strategy, currently employs around 420 staff members (prior year: around 300) and expects sales of around 67 to 70 million Euros (prior year: EUR 45.7 million) in 2006. AC-Service AG is listed in the Prime Standard segment of the Frankfurt Stock Exchange (ISIN DE0005110001, WKN 511 000) and is a subsidiary of BEKO HOLDING AG, which owns approximately 52 percent of its stock. Contact: AC-Service AG, Dirk Sonntag, Tel. 0049 (0)711 78807-260, eMail dirk.sonntag@de.ac-service.com (c)DGAP 14.11.2006 ————————————————————————— Language: English Issuer: AC-Service AG Schockenriedstr. 7 70565 Stuttgart Deutschland Phone: 07 11-7 88 07-260 Fax: 07 11-7 88 07-222 E-mail: info@de.ac-service.com WWW: www.ac-service.com ISIN: DE0005110001 WKN: 511000 Indices: Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin-Bremen, Hannover, Düsseldorf, Hamburg, München, Stuttgart End of News DGAP News-Service —————————————————————————