Teleplan International N.V. / Half Year Results/Interim Report
28.07.2010 06:43
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P R E S S R E L E A S E
Solid Profitability in the first six months 2010
- First signs of top-line growth in the second quarter 2010
- Equity ratio at 41.6 % after 34.8 % at year end 2009
- Customer-centric organization in place to drive future top-line growh -
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Schiphol/Amsterdam, the Netherlands, 28 July 2010iphol/Amsterdam, the
Netherlands, 28 July 2010 - Teleplan International N.V. (SDAX, ISIN:
NL0000229458), the leading global provider of high-tech after-market
services for the Computer, Communications and Consumer Electronics
industries today announced its results for the first half of 2010. Teleplan
has reported strong profitability for six consecutive quarters now.
Teleplan's revenues amounted to 141.0 million euro in the period under
review (H1/2009: 144.9 million euro), a decrease of 2.7%. Revenue erosion
in the Consumer Electronics segment and a slow-down in parts of the
Computer segment have slightly impacted 2010 half year revenues. EBITDA
showed a level similar to the first six months of 2009, with a slight
increase by 0.6% from 15.7 million euro to 15.8 million euro in the period
under review. Earnings before interest and tax (EBIT) rose by 3.1% from
13.2 million euro to 13.7 million euro, and the EBIT margin climbed from
9.1% to 9.7%. Net income for the first six months of 2010 increased by
24.4% from 7.2 million euro to 8.9 million euro. The rise is a result of
the significantly lower financial charges. Consequently, earnings per share
amounted to 0.15 euro.
Communications segment outperformed Computer and Consumer Electronics
segment
Revenue in the Computer segment decreased by 5.5% to 62.4 million euro in
the first half-year 2010 compared to 66.0 million last year due to the sale
of the Hamburg site at the end of 2009 and portfolio optimization.
Continued improvements to the operating performance in the Computer segment
more than compensated for the revenue decline, causing the segment's EBITDA
to jump by 73.3% in the first half-year 2010 from 4.9 million euro to 8.5
million euro.
The Communications segment has continued to grow, from a revenue of 43.0
million euro in the first half-year 2009 to 46.2 million euro for the first
six months 2010. The segment has seen robust growth in the Network business
and this is expected to continue into 2010 as Teleplan invests in expanding
this segment. Next to this the company has one customer service program
which showed a declining revenue contribution in the period under review.
The segment's underlying result was masked by investment expenditure for
growth and by some price pressure. EBITDA was 3.3 million euro in the first
half 2010 compared to 5.5 million euro for the same period last year.
Revenue in the Consumer Electronics segment decreased by 9.7% to 32.3
million euro during the first half-year 2010, compared to 35.8 million euro
for the same period last year. This decline in reported revenue was due to
revenue erosion in one service program in the segment. Other business
continued to grow but does not yet compensate for the fall in volumes
elsewhere in the segment. As a consequence EBITDA fell by 24.8% to 4.0
million euro in the first six months 2010 compared to 5.4 million euro for
the same period last year.
Analysis of cash flow and balance sheet positions
In the period under review, cash generated from operations was 11.2 million
euro compared to 17.2 million euro for the first six months 2009. This
result followed a 4.5 million euro increase in net working capital during
the first six months 2010 (H1/2009: 0.7 million euro decrease).
Total equity increased to 66.6 million euro at 30 June 2010 (31 December
2009: 50.8 million euro) reflecting the six months period's net income and
currency translations on foreign operations. The equity ratio improved by
6.8 percentage points to 41.6% at 30 June 2010 compared to year-end 2009.
Outlook second half-year 2010
The first six months of 2010 were mainly characterized by laying the
foundation for future top-line growth. The implementation of a new
customer-centric organization is in place and was the last milestone in
taking an active approach to top-line growth going forward. 'Despite the
many initiatives and investments which are under way to generate top-line
growth, we have come to the realization that our organization needs more
time than planned to switch from a cost-cutting and cash-generation focus
to a profitable growth mindset,' commented Gotthard Haug, CEO of Teleplan,
the undergoing change of Teleplan. One customer service program in the
Communications segment will exit and will not any longer contribute to the
revenue line. 'We therefore change the revenue guidance ranging between 285
million euro and 290 million euro for the full year 2010. At the same time,
the corresponding EBIT margin guidance in a range between 9.5% and 10%
remains unchanged,' Gotthard Haug added on the guidance for the full year
2010.
<b
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At a glance: Teleplan's key figures (IFRS)
|[![CDATA[|[pre|]]]|]
million Euro H1/2009 H1/2010 +/-%
Revenue 144.9 141.0 - 2.7%
EBITDA 15.7 15.8 + 0.6%
EBIT 13.2 13.7 + 3.1%
Netincome 7.1 8.9 + 24.4%
EPS 0.12 0.15 + 25%
Net debt (30 June) 32.0 13.5 + 57.8%
Empployees (30 June) 5.600 5.532 - 1.4%
Equity Ratio in % 23.3 41.6 + 18.3 points
|[![CDATA[|[/pre|]]]|]
* the percentage change is calculated based on amounts in thousands of euro
<b
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For Further Information:
Teleplan International N.V.
Monika Collée
Manager Communications & Investor Relations
TelTel.: + 31 85 273-3681 .: + 31 85 273-3681
Email: monika.collee@teleplan.com
<b
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Teleplan International N.V.eplan International N.V. Teleplan
International N.V. is one of the top suppliers of high-tech after-market
services and provides total lifecycle care solutions for the world of
Computers, Communications and Consumer Electronics ('3Cs'). The lifecycle
care concept ranges from simple repairs to the most sophisticated
technological and electronic solutions. Headquartered in
Amsterdam/Schiphol, the Netherlands, Teleplan currently operates from 18
sites in Europe, North America, Asia and Australia with approximately 5,500
employees.
For further information please visit: www.teleplan.com.
.
28.07.2010 06:43 Ad hoc announcement, Financial News and Press Release distributed by DGAP. Medienarchiv at |[![CDATA[|[a href="http://www.dgap-medientreff.de"|]www.dgap-medientreff.de|[/a|]]]|] and |[![CDATA[|[a href="http://www.dgap.de"|]www.dgap.de|[/a|]]]|]
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Language: English
Company: Teleplan International N.V.
Schiphol Boulevard 201
1118 BG Schiphol
Niederlande
Phone: +31 79 330 44 55
Fax: +31 79 330 44 66
E-mail: investor_relations@teleplan.com
Internet: www.teleplan.com
ISIN: NL0000229458
WKN: 916980
Indices: SDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, München, Düsseldorf, Stuttgart, Hamburg
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DGAP-News: Teleplan International N.V.: Solid Profitability in the first six months 2010
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