All for One Group SE — Earnings Release 2007

Nov 14, 2007

News Details

Ad-hoc | 14 November 2007 07:31

AC-Service Posts Strong Growth in All Divisions and Raises Sales and Earnings Forecast for the Year

AC-Service AG / Quarter Results

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AC-Service Posts Strong Growth in All Divisions and Raises Sales and
Earnings Forecast for the Year

9-month sales rise 26% to EUR 64.2 million. EBITA after 9 months more than
doubles from EUR 1.4 to 3.1 million. Negative quarterly earnings after
taxes with a one-time burden resulting from the 2008 corporate tax reform
in Germany. Upturn in 9-month earnings per share from minus 26 euro cents
to plus 12 euro cents. Sales and EBITA estimates raised for full 2007 year.
Implementation of full-scale SAP service provider strategy progressing in
leaps and bounds.

Stuttgart, 14 November 2007 – Under the leadership of its changed board of
directors, AC-Service again picked up added speed in this 3rd quarter. The
fundamental realignment of its strategy of becoming a full-scale SAP
service provider is generating additional growth drive. As reported in the
9-month financial statements that were completed and published today,
AC-Service posted sales of EUR 64.2 million (prior-year period: EUR 51.0
million). This 26% increase in revenues (21 percentage points being
attributable to organic growth) exceeded the board’s expectations and stems
predominantly from the business divisions Managed IT Services (+32%) and
SAP Solutions (+28%). Once again the other business divisions also reported
increased sales. An extremely impressive rise in earnings was achieved
despite continued major investments in personnel and infrastructures. The
9-month EBITA more than doubled over that of the same period a year ago and
rose from EUR 1.4 to 3.1 million, while the 9-month EBIT improved from EUR
0.7 to 2.3 million.

The 3rd quarter finished with sales rising 24% to EUR 22.2 million
(prior-year quarter: EUR 17.9 million). The 3rd quarter EBITA was EUR 1.2
million (prior-year quarter: EUR 1.0 million) and the EBIT was EUR 1.0
million (prior-year quarter: EUR 0.7 million). Despite pre-tax earnings for
the 3rd quarter increasing to EUR 0.9 million (plus 59%), the quarterly
earnings per share were minus 5 euro cents (prior-year quarter: 0 euro
cents). This is the consequence of one-time tax charges from value
adjustments in the amount of EUR 0.5 million in connection with Germany’s
2008 corporate tax reform. AC-Service posted a profit jump from minus 26
euro cents (9 months of 2006) to plus 12 euro cents (9 months of 2007) in
its 9-month earnings per share. The 9-month average staffing strength in
full-time equivalents was 470 (prior-year period: 415) and the number of
individuals employed as at the 30 September reporting date was 504 (30
September 2006: 435).

AC-Service intends to continue progressing with its growth strategy in the
4th quarter and to further enhance the good standing it enjoys in the
marketplace, particularly among mid-sized machine-making, supplier
operations and project-services companies. This is why the board has raised
the sales and earnings projections for the full 2007 year, which were
announced as being in a range of from EUR 77 to 79 million (sales) and EUR
2.3 to 2.7 million (EBITA) in the 2006 Annual Report published in March
2007. The adjusted projections for sales are now put in a range of from
approximately EUR 83 to 85 million, with earnings (EBITA) expected to range
from about EUR 3.6 to 4.0 million.

You can find additional information and the entire quarterly report at
www.ac-service.com/interim-report

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Information and Explaination of the Issuer to this News:

Background Information on AC-Service AG
Operating primarily in Germany, Austria and Switzerland, AC-Service is an
industry focussed IT full- service provider for the mid-size business
market. Market observers rank AC-Service 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, All for One, Process
Partner, KWP and ACCURAT. Originating in Switzerland, the AC Group has been
operating for over 45 years, offers a sustainable track record and 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 pursues a clear growth strategy, currently employs
around 470 staff members and expects sales of around 83 to 85 million Euros
in 2007. 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 55 percent of its
stock.

www.ac-service.com/english
www.ac-service.com/press-photos

Kontakt:
AC-Service AG, Dirk Sonntag, Tel. 0049 (0)711 78807-260, eMail
dirk.sonntag@de.ac-service.com

14.11.2007 Financial News transmitted by DGAP

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
Internet: www.ac-service.com
ISIN: DE0005110001
WKN: 511000
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Hannover, Düsseldorf, Hamburg, München, Stuttgart

End of News DGAP News-Service

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