Ad-hoc: Final Figures for Financial Year 2008
Filderstadt, 10 March 2009 – The Supervisory Board of All for One Midmarket AG today approved the consolidated financial statements dated 31 December 2008. These statements show that the annual revenues for this leading full-service provider for SAP in countries where German is spoken increased from EUR 78.1 million to EUR 85.2 million (plus 9%). Following record investments made in two new and mirrored high-end data centers, the recurring revenues from Outsourcing Services (EUR 28.9 million; plus 18% compared to 2007) proved to be the growth drivers and already account for some 1/3 of total revenues. Significant increases were also posted in revenues from consulting services (EUR 34.2 million; plus 12%) and software licenses (EUR 14.4 million; plus 13%).
The 2008 EBIT was minus EUR 0.8 million (prior year: EUR 1.4 million). This sharp drop is attributable not only to an increase in risk provisioning in view of the economic downturn, but predominantly to the growth-related restructuring of the company that led among other things to record investments of about 8% of the annual revenues. The number of employees at the end of the 2008 year rose by 12% to 503 people (31 December 2007: 449 people) and the staffing level increased 11% to 471 full-time equivalents.
Together with the net earnings of EUR 3.1 million (prior year: EUR 0.0 million) from the discontinued and since sold business division, All for One Midmarket AG improved its earnings after taxes from EUR 1.2 million in 2007 to EUR 1.6 million in the financial year just ended. This corresponds to earnings per share of 28 euro cents (prior year: 22 euro cents).
The balance sheet as at 31 December 2008 was strengthened significantly by the conclusion of new and long-term financing agreements. The equity ratio improved from 38% (31 December 2007) to 45% (31 December 2008). Disposable cash and cash equivalents as at 31 December 2008 totalled EUR 8.1 million (31 December 2007: EUR 5.6 million) while the net debt was reduced by 32% from EUR 5.9 million to 4.0 million (31 December 2008).
All for One Midmarket AG will be publishing its complete 2008 consolidated financial statements as scheduled during its financial results press conference in Filderstadt on 24 March 2009. In addition, an analyst presentation will be held in Frankfurt on 25 March 2009.