9-Month Report as at 30 June 2013 / All for One Steeb AG
Filderstadt, 06 August 2013 – There remains a relatively even balance between confidence and restraint within our key machinery and equipment manufacturing, automotive, project services, consumer goods, and technical wholesaling industries. »We are still the number one on the global export market for machinery and equipment« was the assessment made recently by the VDMA federation. However, this federation also revised its full-year outlook for 2013 compared to last year from an original plus 2% down to minus 1% due to the weaker orders situation on Germany’s domestic markets (Source: VDMA, 4 July 2013).
Thanks mostly to our strong market position and concerted sales efforts, we were able to post a 24% growth in revenues to EUR 135.7 million during the period 1 October 2012 to 30 June 2013 (1 Oct 2011 – 30 Jun 2012: EUR 109.5 million). The EBIT for this latest reporting period was EUR 7.3 million, which is an increase of 83% over the comparable period a year ago (1 Oct 2011 – 30 Jun 2012: EUR 4.0 million). This makes the current EBIT margin 5% (1 Oct 2011 – 30 Jun 2012: 4%). Our persistently good performance is attracting ever greater attention. »High growth rates and a favourable valuation are an invitation to buy« read a headline in the investor magazine DER AKTIONÄR (Issue 29, 1 July 2013, »Hot Stock of the Week«). Interest on the part of institutional investors has increased greatly as well, as evidenced by having successfully placed our first promissory note. In response to the large demand, the initially planned volume of EUR 30 million was enlarged to EUR 35 million. This step not only lets us lock in the favourable financing terms of the current market environment over the long term, but also improves the ability to plan, budget and manage our corporate funding.
In addition to organic business growth, we are also pursuing a deliberate and selective buy-and-build strategy in order to further strengthen our position as the Number 1 in the German-language SAP midmarket segment. The Steeb merger (December 2011) was followed by the addition of OSC in November 2012 and parts of ORGA’s operations in May 2013, as well as the acquisition of WEBMAXX in July 2013. Along with that, we also expanded our presence in Switzerland in February 2013.
Our new services location in Istanbul began operations in July 2013 in support of our rapidly growing customer base in countries where German is spoken. Our extensive experience with integration projects helps us incorporate our many new employees. Our customers also appreciate this kind of commitment, as illustrated by SAP having recently recognised us as the only German-language company with a Pinnacle Award as »SME VAR/Reseller of the Year«. Customer feedback was a decisive factor in earning this award, which otherwise has only been conferred on globally operating companies such as IBM, HP, Accenture, Atos, Tata Consultancy, Cap Gemini, Deloitte and Open Text.
Well-equipped and promisingly positioned, we stand by our full-year projection for 2012/13 of EUR 180 million in revenues and an EBIT of EUR 9 million.
Yours sincerely,
Lars Landwehrkamp Stefan Land
CEO CFO