tecis Finanzdienstleistungen AG

ots Ad hoc-Service: tecis Holding AG tecis sales up 59 percent in 1st half

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    Hamburg (ots Ad hoc-Service) -              High growth at tecis Maklerservice - Further increase in number of representations and sales partners

    tecis Holding AG, Hamburg, again sustained its high rate of growth in the first half of 2000: The financial services provider, due to be listed on the MDAX from 18 September, was able to increase its sales revenue by 59 percent as against the same period of the previous year, to DM 52.2 (32.8) million. Commission earnings rose 41 percent, and profits by 32 percent to DM 2.5 (1.9) million. This exceptionally high increase was chiefly due to very strong growth at tecis Maklerservice AG, where sales were up by a huge 171 percent in the first half, to DM 16.8 million, tecis expects to be able to maintain the first-half rate of growth also in the coming months. On the basis of past experience, the second half is usually stronger at tecis than the first. For the year as a whole, sales revenues unchanged at DM 128 million are expected, with a commission result of DM 47 million and a profit for the year of DM 7.5 million . By 2002, tecis expects sales to exceed DM 200 million.

    The tax reform passed by both chambers of the German parliament in July 2000 will also have a highly positive effect for tecis from the year 2001, significantly reducing the tax burden from currently just under 50% to around 40%.

    A positive development was recorded at all the subsidiaries of the Group. Gross receipts at tecis Finanzdienstleistungen AG rose by a hefty 35 percent in the first half of 2000 to DM 33.4 (adjusted: 24.8) million. Commission earnings were up 25 percent to DM 13.0 (adjusted: 10.4) million. A particularly positive aspect was the continuing strong growth in the number of representations. Following the strong increase in 1999 (plus 20), it was possible to open a further 10 representations up to the end of June, so that tecis now has no fewer than 71 representations throughout Germany. At the same time, the number of sales partners was also increased by 122 to 1027. It is aimed to raise this further to 1300 by the end of the year. "Through the increase in the number of sales partners and representations, we are laying the foundation for our future growth," says Christian Steinberg, CEO of tecis Holding AG.

    tecis Maklerservice AG was also able to continue its positive development. Sales turnover grew by 171 percent to DM 16.8 (6.2) million. Commission earnings were up 169 percent to DM 4.3 (1.6) million. The company benefited in particular from the rise in prices on the international stock exchanges in the first quarter, which produced a significant increase in the demand for investment funds at the brokers and multiple agents. In the first six months of the financial year, it was possible to win 300 new broker clients.

    tecis Asset Management AG recorded sales growth of DM 1.5 million to DM 2.9 million in the first six months. Commission earnings rose to DM 1.0 (0.7) million. Following the successful development of the tecis Global and tecis Dynamic holding funds (managed assets of both funds as at 30 June 2000: DM 170 million), which were launched in autumn 1999, three additional products were also introduced. Set up together with the Union Bank of Switzerland (UBS), the holding funds tecis New Technologies Select UBS (D), tecis Asia Pacific Select UBS (D) and tecis Europe Plus Select UBS (D) have been licensed for sale since the beginning of July.

    tecis Versicherungsmakler AG, which was founded in autumn 1999 and covers the composite and medium non-life insurance business for the Group, recorded commission income of DM 1.0 million in the first half of 2000, with a commission profit of DM 0.8 million.

    tecis eCom AG, launched in spring 2000, was able to further expand the Internet business-to-business investment platform in the second quarter. This system allows sales partners and brokers to call forward up-to-date portfolio information online on investment contracts placed through tecis. It also allows an information service, current portfolio and performance charts to be called forward and printed out at the point of sale. At the present time, 497 funds of 10 fund companies, including DWS, M.M. Warburg and UBS, can be ordered and administered through this system.

Inquiries                                                tecis Holding
Dr. Jürgen Gaulke                                  Press and Public Relations
Tel. 0177/679 30 60                                Bettina Riecke
Fax 040/3603 036592                                Tel. (040) 69 69 51 - 285
Email GaulkeJ@aol.com                            Fax  (040) 69 69 51 - 278

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Original-Content von: tecis Finanzdienstleistungen AG, übermittelt durch news aktuell

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