All for One Midmarket AG / Half Year Results
01.08.2008
Release of a Adhoc News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
All for One Midmarket AG: Successful Growth Strategy Burdens Operating
Earnings
Half-year revenues increase 12% to EUR 41.0 million / Sale of ACCURAT helps
net earnings improve to EUR 2.8 million (1st half-year 2007: EUR 0.9
million) / EBIT slips to EUR 0.1 million (1st half-year 2007: EUR 0.4
million) / Equity ratio rises to 48% (end of prior year: 38%) / Sales
outlook for 2008 reaffirmed / EBIT 2008 to exceed prior years figure
Stuttgart, 1 August 2008 The successful sale of ACCURAT (discontinued
operation) that was completed on 19 May 2008 and the agreements for
restructuring the corporate financing that were signed on 24 June 2008 were
two important milestones that All for One Midmarket AG (formerly AC-Service
AG) reached in the 2nd quarter of 2008 as it proceeds to further strengthen
its integrated business model.
The volume of sales exceeded that of the corresponding prior-year quarter
for the 10th time in succession. Half-year revenues increased by 12% to EUR
41.0 million. The drivers behind this growth were the proceeds from the
sale of SAP licenses (+69%) and the recurring revenues from Outsourcing
Services (+18%). The EBITA was EUR 0.5 million (1st half-year 2007: EUR 0.9
million) and the EBIT was EUR 0.1 million (1st half-year 2007: EUR 0.4
million). This decline is attributable mostly to what are significantly
higher costs for the continued expansion of the team of consultants and the
ongoing Group restructuring. The staffing strength increased by 21% and
totalled 460 full-time positions as at 30 June 2008 (1st half-year 2007:
381).
Including the contribution to earnings made by the sale of ACCURAT
(discontinued operation), All for One Midmarket AG achieved semi-annual
earnings per share of 54 euro cents (1st half-year 2007: 17 euro cents).
The signing of new long-term financing agreements did much to help
strengthen the balance sheet as at 30 June 2008. The equity ratio increased
from 38% to 48%. The net debt was reduced from EUR 5.9 million to 2.3
million. Cash and cash equivalents totalled EUR 7.2 million (31 December
2007: EUR 7.4 million).
In light of the continuing successful integration of the business model,
this robust growth curve should continue in the second half of the year.
The reorganisation of group structures, along with the ongoing shortage of
qualified IT professionals and the higher costs of recruitment and training
that go with it, may however burden the current years earnings somewhat
more than anticipated. The Management Board has reaffirmed its sales
projections of EUR 82 million to 85 million for the full 2008 year and
currently expects an EBIT for 2008 that will be above the prior years
figure of EUR 1.0 million (earlier EBIT projection for 2008: EUR 1.3
million to 1.7 million).
The complete 2008 1st half-year report for 2008 will be published as
scheduled on 20 August 2008.
---------------------------------------------------------------------------
Information and Explaination of the Issuer to this News:
About All for One Midmarket AG (formerly AC-Service AG)
The All for One Midmarket AG, operating primarily in Germany, Austria and
Switzerland, is an industry focussed IT full-service provider for the
mid-size business market. Market observers rank All for One amongst the
leading players in the German-language SAP midmarket segment. The Group
features established brands including All for One, AC, Process Partner, KWP
and serves over 1,000 clients. Its portfolio comprises end-to-end solutions
along the whole of the IT value chain from SAP industry solutions for the
midmarket through to outsourcing services and application management. The
All for One Midmarket AG pursues a clear growth strategy and achieved a
Group turnover of 78.1 million Euros in 2007.
The All for One Midmarket 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.all-for-one.com/english
Contact:
All for One Midmarket AG, Dirk Sonntag, Tel. 0049 (0)711 78807-260, eMail
dirk.sonntag@all-for-one.com
DGAP 01.08.2008
---------------------------------------------------------------------------
Language: English
Issuer: All for One Midmarket AG
Schockenriedstraße 7
70565 Stuttgart
Deutschland
Phone: +49 (0)711 78 807-260
Fax: +49 (0)711 78 807-222
E-mail: dirk.sonntag@all-for-one.com
Internet: www.all-for-one.com
ISIN: DE0005110001
WKN: 511000
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Stuttgart, München, Hamburg, Düsseldorf
End of News DGAP News-Service
---------------------------------------------------------------------------
DGAP-Adhoc: All for One Midmarket AG: Successful Growth Strategy Burdens Operating Earnings
| Source: EQS Group AG