Half-Year Financial Report as at 31 March 2013 / All for One Steeb AG
All for One Steeb AG earned much approval during our annual general meeting of 14 March 2013 for more than doubling revenues in only four years’ time, completing the Steeb integration on schedule, and having advanced to become the new Number 1 in the German-speaking midmarket segment. All agenda items were approved with large majorities. In addition to the distribution of a dividend of 15 euro cents per share, the meeting also approved an expansion of the supervisory board. One-third of the supervisory board, which has now been enlarged to six persons, was elected from the workforce.
On 12 March 2013 – two days before the annual general meeting – we successfully concluded those negotiations with Fiducia IT AG, Karlsruhe, regarding a long-term partnership on the SAP market, which were previously announced on 5 February 2013. We also signed a purchase agreement that same day to take over parts of Fiducia’s SAP midmarket business. As at 1 May 2013 some 50 employees were transferred to All for One Steeb along with outsourcing and software maintenance client contracts. The projected sales volume will be an initial EUR 8 to 9 million per year. Through this arrangement we want to not only strengthen our position as the Number 1 in the German-speaking SAP midmarket segment, but also once again increase the share of recurring sales revenues.
We succeeded in posting a 23% gain in sales revenues to EUR 88.0 million for the period of 1 October 2012 to 31 March 2013 (1 Oct 2011 – 31 Mar 2012: EUR 71.3 million). The EBIT for this latest reporting period was EUR 5.0 million, which is a plus of 70% over the same period a year ago (1 Oct 2011 – 31 Mar 2012: EUR 2.9 million). Hence the current EBIT margin is 6% (1 Oct 2011 – 31 Mar 2012: 4%). This kind of continued good performance is attracting more and more attention. The DSW, Germany’s oldest and largest investor association, ranked All for One Steeb AG 6th among the »50 Long-Term Best Companies« according to its annual watch list published in Focus Money (issue dated 27 March 2013). A few days later the Frankfurter Allgemeine Zeitung counted us among that group of companies with the strongest growth in staff numbers (issue dated 4 April 2013). And because there are now highly trained German-speaking SAP consultants available in Istanbul, we have embarked on establishing a service location in that Turkish city.
We should continue to see a generally even balance between confidence and restraint within our key machinery and equipment manufacturing, automotive, project services, consumer goods, and technical wholesaling industries. We can also reaffirm the full-year forecast for 2012/13 – revenues of EUR 180 million and an EBIT of EUR 9 million – that was raised on 4 February 2013.
Yours sincerely
Lars Landwehrkamp Stefan Land
CEO CFO