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3-Month Report for the 1st Quarter 2011/12 Published / Steeb Included for the First Time

Results for the period 1 October to 31 December 2011: Revenues: EUR 33.9 million (+51% over Oct – Dec 10) / EBIT: EUR 2.2 million (+ 55% over Oct – Dec 10) / Net group earnings: EUR 1.8 million (+ 55% over Oct – Dec 10) / Equity ratio: 30% (30 Sep 2011: 59%) / New All for One Steeb brand well received

Filderstadt, 29 February 2012 – All for One Midmarket AG, which holds a leading position in the German-language SAP midmarket segment and has re-branded the group under the name All for One Steeb following its recent acquisition of Steeb Anwendungssysteme GmbH, today published its 3-month report for the period of 1 October to 31 December 2011.

The wholly-owned subsidiary Steeb was consolidated on 1 December 2011. This SAP full-service provider increased revenues 51% from EUR 22.5 million to EUR 33.9 million in the 1st quarter of the financial year 2011/12. 50% of this increase is attributable to pure organic growth and the other 50% to the inclusion of Steeb. Recurring revenues from outsourcing services (including software maintenance) posted a gain of 46% to EUR 12.4 million (Oct – Dec 2010: EUR 8.5 million) in this latest 3-month reporting period. In addition to an improved market position derived from years of continuous growth – the most recent ranking by analysts at Pierre Audoin Consultants (PAC) already puts All for One among the top 12 SAP hosting providers in Germany – it was Steeb’s substantial base of software-maintenance customers that contributed to these accelerated gains. The volume of business among new and existing customers continues heading sharply upwards. Licensing revenues increased 77% to EUR 8.8 million (Oct – Dec 2010: EUR 5.0 million), while consulting revenues rose 43% to EUR 12.0 million (Oct – Dec 2010: EUR 8.4 million).

The EBIT improved a remarkable 55% to EUR 2.2 million (Oct – Dec 2010: EUR 1.4 million) despite one-time transaction- and integration-related charges of EUR 1.3 million in the 1st quarter 2011/12. The EBIT margin was 6% (Oct – Dec 2010: 6%). Net group earnings posted a gain of 55% to EUR 1.8 million (Oct – Dec 2010: EUR 1.2 million). Earnings per share were 35 euro cents (Oct – Dec 2010: 24 euro cents).

The acquisition of Steeb was largely debt-financed. The equity ratio declined from 59% (30 September 2011) to 30% (31 December 2011). The number of employees as at 31 December 2011 increased to 679 (31 December 2010: 435).

For the financial year 2011/12 All for One Steeb expects an increase in revenues of between 55% and 60% over those of the prior-year period. Although burdened by one-time transaction and integration costs, the EBIT for the combined company is nevertheless expected to remain clearly positive in the financial year 2011/12. After completion of the integration phase, which is proceeding on schedule, it is likely that total revenues of EUR 160 million and an EBIT margin of more than 5% can be achieved as early as in the financial year 2012/13. So far there have been no indications of an economic slowdown, although such cannot be ruled out.

More details in the 3-Month Report as at 31 December 2011 published as scheduled on 29 February 2012 here.