Preliminary Results: Still Moving Against the Trend, 1st Half-Year in Plus
Filderstadt, 30 July 2009 – Preliminary figures show that All for One Midmarket AG, which holds a leading position in the German-language SAP midmarket segment, not only finished with a strong 1st half-year in 2009, but also further distanced itself from an otherwise waning IT market. Although this SAP full-service provider mainly operates for companies in the automotive supplier, machinery and equipment manufacturing industries, which are the ones most affected by the economic crisis, it nevertheless succeeded in improving its half-year sales revenues in its continuing operations by 8% to EUR 36.9 million (1st half-year 2008: EUR 34.2 million). These figures no longer include AC-Service (Schweiz) AG. The 95% equity interest in this company will be sold shortly and is therefore reported separately under »discontinued operation«.
Following record investments in new mirrored high-end data centers in 2008, the recurring outsourcing revenues of the continuing operations increased a strong 24% to EUR 13.5 million in the 1st half-year 2009 and now account for some 37% of total sales revenues. The half-year revenues from the sale of SAP licenses were EUR 4.1 million and declined (minus 36%) compared to that of the prior year. It was, however, the biggest turnover in SAP licenses in the company’s history that led to licensing revenues totalling EUR 6.5 million in the 1st half-year 2008. Half-year consulting services revenues increased by 17% to EUR 17.4 million compared to the prior year.
The EBITDA of the continuing operations rose 60% to EUR 2.0 million compared to the prior year. The corresponding EBIT was EUR 0.3 million (1st half-year 2008: minus KEUR 21).
The 2nd quarter of 2009 saw sales of EUR 17.0 million (plus 5% year on year) and an improvement in the EBIT from minus EUR 0.5 million (2nd quarter 2008) to EUR 0.1 million (2nd quarter 2009).
The total earnings after tax of EUR 0.5 million for the 1st half-year 2009 also include the earnings contribution from the discontinued operation. The corresponding prior-year figure of EUR 2.8 million includes a contribution to earnings of EUR 3.4 million from the sale of ACCURAT (discontinued operation). The equity ratio was 47% as at 30 June 2009 (31 December 2008: 45%).
The 60% equity interest in team HR Organisationsberatung Personalwirtschaft GmbH, Düsseldorf, which was acquired at the end of June 2009, will be fully consolidated beginning on 1 July 2009. By resolution of the annual general meeting of 19 May 2009, the financial year for All for One Midmarket AG now ends on 30th September. This change results in there being one short financial year, which starts on 1 January 2009 and ends 9 months later on 30 September 2009.
Lars Landwehrkamp, spokesman of the All for One Midmarket AG management board, said: »We are very well-positioned as an SAP full-service provider following the major restructuring we undertook in 2008. In particular our customers are taking increasing advantage of our outsourcing services«. Because of this, and in contrast to the downward trend on the market as a whole, a modest increase in sales revenues should be achieved for the short financial year from 1 January to 30 September 2009. A positive EBIT is expected.
The complete half-year financial report will be published as scheduled on 10 August 2009.