All for One Group SE — Earnings Release 2006

Mar 28, 2007

News Details

Corporate | 28 March 2007 08:10

AC-Service Posts Strong Growth in Sales. Impressive Rise in Operating Earnings. Year Closes with a Loss.

AC-Service AG / Final Results

Release of a Corporate-announcement, transmitted by DGAP - a company of
EquityStory AG.
The issuer is solely responsible for the content of this announcement.

---

AC-Service Posts Strong Growth in Sales. Impressive Rise in Operating
Earnings. Year Closes with a Loss.

Preliminary results confirmed. Sales grow 63% to EUR 72.9 million. EBITA
improves from EUR 1.1 million to EUR 2.4 million. Loss on the year
following a major tax expense that mostly had no effect on liquidity.
Sweeping new direction for the AC-Group. Still moving ahead on a clear path
of growth with its strategy of being a full-scale SAP service provider.
Sales estimate for 2007 in the range of some EUR 77 to 79 million.

Stuttgart, 28 March 2007 – AC-Service has set out on a clear path of growth
with its strategy of being a one-stop service provider that covers the
entire IT value chain and delivers end-to-end support to small and
mid-sized businesses in countries where German is spoken. According to the
group financial statements published today, AC-Service posted sales of EUR
72.9 million (prior year: EUR 44.7 million) in the financial year 2006.
This high increase in sales stems mostly from the SAP Solutions business
division, which had strong organic growth thanks to the inclusion of the
All for One Midmarket Solutions GmbH acquisition, and which reported
segment sales of EUR 39.7 million (prior year: EUR 12.4 million). Sales in
the Human Resource Services division declined from EUR 11.3 to 10.3
million, whereas the Managed IT Services division increased its sales by
about 8% to EUR 18.8 million. Big investments were made in expanding
consultant capacity in order to manage this vastly enlarged business
volume, which put a temporary burden on earnings. The EBITA was EUR 2.4
million (prior year: EUR 1.1 million) and the EBIT was EUR 1.4 million
(prior year: EUR 0.8 million). The preliminary results published in the ad
hoc announcement of 14 March 2007 were confirmed. The range for sales
announced in March 2006 was surpassed while the projected EBITA was just
achieved.

Earnings before taxes totalled EUR 0.7 million (prior year: EUR 1.1
million) and was burdened by large one-time costs for the provision of the
loan to fund the acquisition. A major income tax expense of EUR 2.6 million
(prior year: EUR 0.1 million), which mostly had no impact on liquidity, led
to earnings after taxes of minus EUR 1.9 million (prior year: EUR 1.0 Mio
million). Earnings per share (IFRS) were therefore minus 35 euro cents
(prior year: 22 euro cents). The inclusion of All for One led to some
fundamental changes in AC-Service’s balance of accounts. Total reported
assets increased from EUR 42.4 to 64.3 million, while the share of equity
to the balance sheet total dropped from 63% to 39%.

The strategic objectives behind the acquisition of All for One have been
achieved. All for One with its focus on SAP industry solutions and
AC-Service concentrating on outsourcing services together enable optimal
coverage of the entire SAP value chain, as evidenced by the total of over
50 new SAP client projects that were garnered in 2006. The market launch of
the AC-Group’s one-stop range of SAP products and services is being made in
line with a broad new alignment designed to strengthen the organisational
structure uniformly under the All for One brand in the future.

The board of directors expects sales of some EUR 77 to 79 million for 2007
and about EUR 89 to 92 million for 2008. The EBITA for 2007 should be in
the range of between EUR 2.3 and 2.7 million for 2007, and between about
EUR 4.2 and 4.7 million for 2008.

You can find more information and the complete annual report on the
Internet at www.ac-service.com.

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
dirk.sonntag@de.ac-service.com

DGAP 28.03.2007

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: 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

---