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All for One Group SE — Earnings Release 2007
May 8, 2007
27_rns_2007-05-08_b2ba15e0-73f5-4045-98d0-a1d9c81352ea.html
Earnings Release
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News Details
Ad-hoc | 8 May 2007 08:31
AC-Service Posts Jump in Profits and Exceeds Expectations
AC-Service AG / Quarter Results
Release of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
AC-Service Posts Jump in Profits and Exceeds Expectations
Quarterly sales grow 33% to EUR 21.1 million. EBITA improves from EUR 0.3
to 1.7 million. Special income from investment tax credits relating to
other periods enhances impressive profit drive. Quarterly earnings per
share improve from minus 14 euro cents to plus 17 euro cents. Expectations
surpassed. Projections validated. Strategy of being a full-scale SAP
service provider continues its road to success.
Stuttgart, 8 May 2007 – AC-Service continues making progress along the
course it charted out in 2006 with its strategy of being a full-scale SAP
service provider covering the entire IT value chain and providing
end-to-end services to small and mid-sized companies in countries where
German is spoken. According to the quarterly financial statements completed
and published today, AC-Service posted sales of EUR 21.1 million
(prior-year quarter: EUR 15.8 million) in the first three months of 2007.
This 33% increase in sales was in part achieved organically, exceeds
expectations and stems predominantly from the SAP Solutions (+54%) and
Managed IT Services (+25%) business divisions. Even the Human Resource
Services division was able to post a slight sales plus. A significant
increase in earnings was generated in spite of the high level of
investments made in expanding consultant capacities in order to manage the
unexpectedly strong rise in business volume. The EBITA increased more than
five-fold over the prior-year quarter improving from EUR 0.3 to 1.7
million, the EBIT rose from EUR 0.1 to 1.4 million, earnings before taxes
totalled EUR 1.3 million (prior-year quarter: minus EUR 0.3 million), while
earnings after taxes improved from minus EUR 0.8 to plus 0.9 million.
Earnings per share were 17 euro cents (prior-year quarter: minus 14 euro
cents). An impressive increase in earnings was achieved even when adjusted
by unanticipated income from investment tax credits relating to other
periods in the amount of EUR 0.7 million.
The share of equity to the balance sheet total rose from 39% to 41% and the
cash flow from operating activities improved markedly from EUR 0.2 to 0.8
million over that of the prior-year period. The level of free cash flow is
positive, yet not enough to fully cover the cash used in financing
activities. Cash and cash equivalents declined slightly from EUR 9.3 to 9.0
million compared to the prior-year quarter.
The key strategic issues involving the integration of All for One and the
related realignment of the AC-Group were once again successfully driven
forward. At the core of the strategy is the consolidation of the SAP
systems-contracting and consulting business with the Managed IT Services
activities to form a comprehensive and integral one-stop range of complete
SAP services for midmarket companies under the newly developed All for One
brand with the endorsement »Member of AC-Group«. The »AC« brand, as the
master brand of the AC-Group, will continue to be the centrepiece of
AC-Service AG’s communications with the capital markets.
The board of directors has reaffirmed the projections for sales and
earnings for the full 2007 year as announced in the annual report, which
will be in a range of from EUR 77 to 79 million (sales) and EUR 2.3 to 2.7
million (EBITA).
You can find additional information and the complete quarterly report by
visiting www.ac-service.com
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 445 staff members and expects sales of around 77 to 79 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
Contact:
AC-Service AG, Dirk Sonntag, Tel. 0049 (0)711 78807-260, eMail
[email protected]
DGAP 08.05.2007
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: [email protected]
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