Name Change to All for One Steeb AG Approved / Annual General Meeting
Filderstadt, 14 March 2012 – It was with large majorities that today’s annual general meeting of All for One Midmarket AG approved all the proposed agenda items. Besides the distribution of a dividend of 15 euro cents per share plus a special one-time dividend of an additional 5 euro cents per share, the most notable decision was the granting of approval for changing the company’s name to All for One Steeb AG. Some 81 percent of the share capital was represented at this annual general meeting.
The supervisory board and management board had recommended that the annual general meeting grant its approval to the name change as part of integrating Steeb Anwendungssysteme GmbH, Abstatt, which All for One Midmarket AG acquired on 1 December 2011. The business combination has been operating using the single brand name »All for One Steeb« since the beginning of December 2011. This newly formed company serves the largest installed SAP customer base in the German-language midmarket segment. The goal now is to more rapidly expand its leading position in the growing markets for SAP Business Suite, SAP Business Analytics, SAP Mobile Solutions, SAP Outsourcing Services and SAP Business ByDesign among small to mid-size enterprises.
»All for One and Steeb are two respected and well-established brands within the German-language midmarket segment that not only combine sales power with outstanding service quality, but can best be described as smart, lean, fast, agile and strong«, said All for One Steeb CEO Lars Landwehrkamp. »The decision to ensure the unity of brand and company name will help further enhance the message that our brand conveys«, added Landwehrkamp.
All for One Steeb AG still expects an increase in revenues for the financial year 2011/12 of between 55% and 60% over that of the prior-year period. Although burdened by one-time transaction and integration costs, the EBIT should nevertheless remain clearly positive in the financial year 2011/12. Revenues of approximately EUR 160 million and an EBIT margin of over 5% are expected to be achieved as early as in the financial year 2012/13 once the integration is completed in financial year 2011/12.