Ad-hoc: Major Growth in Sales
Stuttgart, 11 May 2006 – AC-Service AG, a full-scale service provider focused on Managed IT Services, SAP Solutions and Human Resource Services, published its quarterly report today. In these first three months of 2006 the company generated sales of EUR 15.9 million (prior year: EUR 10.5 million), an EBITA of EUR 0.3 million (prior year: EUR 0.6 million) and an EBIT of EUR 0.1 million (prior year: EUR 0.5 million). One-time costs totalling EUR 0.6 million, of which EUR 0.2 million weighed on the EBIT and EUR 0.4 million on the financial result, were incurred for obtaining the loan in connection with the acquisition of All for One Systemhaus GmbH Midmarket Solutions (All for One GmbH) that was completed in February 2006. Apart from these one-time charges, the quarterly results are within the board of directors' expectations. The quarterly loss after taxes was minus EUR 0.8 million (prior year: EUR 0.3 million) while the quarterly earnings/loss per share was minus 14 euro cents (prior year: 6 euro cents). Following the borrowing of EUR 15.5 million to fund the acquisition, the shareholders' equity now totals EUR 25.8 million (31 Dec 2005: EUR 26.7 million) and accounts for 40% (31 Dec 2005: 63%) of the balance sheet total EUR 63.8 million (31 Dec 2005: EUR 42.1 million). Cash and cash equivalents totalled EUR 12.1 million (31 Dec 2005: EUR 11.9 million). The balance of accounts is healthy. These are the first quarterly financial statements to reflect changed accounting and reporting standards (IFRIC 4). Prior-year figures were adjusted accordingly.
Through the integration of All for One GmbH, AC-Service has shifted onto a clear path of growth and is garnering important market positions in such key branches as machinery manufacturing, the auto-parts industry, services companies and the public sector. Along with an overall improved economic climate, there was a lot of favourable impetus generated during this first quarter of 2006 and numerous new client projects were completed, including four new mutual customers of AC-Service and All for One. This trend is expected to continue in the coming quarters.