AC-Service AG / Final Results
31.03.2008
Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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AC-Service on a Strong Path of Growth
Sales plus of 25% in 2007 / EBITA increases from EUR 1.3 million to EUR 2.1
million / Large increase in earnings per share / Results excluding the
discontinued ACCURAT division / Major investments planned for further
business expansion / Favourable outlook for 2008
Stuttgart, 31 March 2008 AC-Service, the IT full service provider with a
leading position on the German-language SAP midmarket segment, continues
moving forward along a path of strong growth. AC-Service finished the
financial year 2007 with sales in its continuing business divisions
improving from EUR 62.6 million in the prior year to EUR 78.1 million
(+25%). The mainstay of what continues to be robust growth are the revenues
from consulting services totalling EUR 30.6 million (+23%), from
outsourcing services (including software maintenance) of EUR 23.8 million
(+18%) and from SAP licenses in the amount of EUR 12.7 million (+29%).
»These results have not only enabled us to significantly exceed sales
expectations, but also place us among those full service companies with the
fastest organic growth in the SAP midmarket segment where German is
spoken,« summarised the AC-Service board spokesman Lars Landwehrkamp. »The
renewed strong rise in sales of SAP licenses strengthens our customer base
for the future, as this is where recurring revenues from software
maintenance and added potential for multi-year outsourcing and
managed-services contracts are generated,« reported Stefan Land, who has
been appointed to the board of directors as the new chief financial officer
of AC-Service AG effective 1 April 2008. Mr Land will replace Marco Fontana
who is leaving the company on 31 March 2008.
The EBIT in the financial year 2007 was EUR 1.0 million (prior year: EUR
0.3 million) and includes depreciation and amortisation totalling EUR 3.3
million (prior year: EUR 2.7 million). These figures include amortisation
of intangible assets in an unchanged amount of some EUR 1.0 million. The
operating earnings before amortisation of intangible assets (EBITA) was EUR
2.1 million (prior year: EUR 1.3 million). This means that the ratio of
EBITA to sales was 3% (prior year: 2%) and the ratio of EBIT to sales was
1% (prior year: 0%). Earnings per share improved considerably from minus 46
euro cents in the prior year to plus 15 euro cents in the financial year
2007. The number of employees increased from 355 (31 December 2006) to 425
(31 December 2007). All the figures stated above do not include the
discontinued ACCURAT (Human Resource Services) business division, which in
2007 posted sales of EUR 10.4 million (prior year: EUR 10.3 million), an
EBITA of EUR 1.4 million (prior year: EUR 1.1 million) and earnings per
share of 7 euro cents (prior year: 10 euro cents). This division is to be
sold as part of the realignment of the AC-Groups corporate strategy to
focus on the SAP midmarket segment.
Thanks to the remarkably strong rise in sales in both 2006 and 2007, the
starting point for further growth has been pushed to a much more
advantageous level. So far there has been no indication of any potential
economic slowdowns in the AC-Groups target markets. Not accounting for the
discontinued business division, the board of directors expects sales for
2008 to be within an approximate range of from EUR 82 million to EUR 85
million. The major investments and expenditures already made for further
expanding the business base will again increase sharply and ultimately
culminate in 2008. Thus the board of directors expects an EBITA of between
EUR 2.3 million to EUR 2.7 million for the financial year 2008 a plus of
some 10% to 30% over the prior year. The rapidly progressing realignment to
become an SAP full service provider combined with an integrated market
presence should facilitate further growth and create more potential for
added value in the coming years.
Additional information and the complete Annual Report 2007 are available on
the Internet at www.ac-service.com/english
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-sized business
market. Market observers rank AC-Service among the leading companies
serving the German-language market for SAP. AC-Service AG features a number
of established brands including AC, All for One, Process Partner and KWP.
Originating in Switzerland, the AC-Group has been operating for over 45
years, offers a sustainable track record and serves over 1,000 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 services on a »leading edge technology« basis, 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 with excellent customer satisfaction
and service quality. AC-Service pursues a clear growth strategy and expects
sales of around EUR 82 million to EUR 85 million in 2008 without the
ACCURAT division (»discontinued operations«). 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% 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 31.03.2008
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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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DGAP-News: AC-Service on a Strong Path of Growth
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