TTL Beteiligungs- und Grundbesitz-AG

ots Ad hoc-Service: TTL Info. Technology AG Turnover up in the year's 3rd quarter

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    Munich (ots Ad hoc-Service) -      

    TTL Information Technology AG, Munich, a supplier of integrated IT services, has increased its consolidated turnover by 60.4 % to reach 73 million DM during the first nine months of this year. For 2000 as a whole, turnover is budgeted to total 102 million DM, breaking the 100-million barrier for the first time.

    During the first 3 quarters of the year, both Project Business, the group's core operation, and its Trading Division, showed continuously improved performance. In the Project Business Division, against the background of substantial capital investment over recent years, turnover was up by 20.9 %, at 44 million DM. Revenues in the Trading Division, at 28.9 million DM, have been more than tripled over the preceding year, once the contribution in 2000 from 1st DATA Solution Vertriebs GmbH, acquired at the beginning of this year, has also been included. Turnover from TTL AG's brokerage operation, however, has fallen short of the original expectations. 1st DATA Solution Vertriebs GmbH reported turnover of 26.8 million DM in the first none months of this year, signifying growth of 85 %, and putting the company firmly in the black overall.

    Consolidated profits from business operation in the year's 3rd quarter before writedowns on goodwill (EBITDA) come to 4.8 million DM (preceding year: 7.1). Earnings after taxes total 881,000 DM (preceding year: 3.3 million). These results reflect substantial investment in corporate infrastructure, particularly for human resources procurement and skilling, plus the increased level of depreciation entailed by capital investment over recent years. For the year 2000, the EBITDA has been forecast at 6.1 million DM, and profits after taxes budgeted at 1.1 million DM for the year as a whole.

    The recently acquired TTL Consult IT GmbH has been successfully integrated, and will achieve turnover of 2.5 million DM and pretax earnings of 0.4 million DM in 2000. TTL Consult IT GmbH is the future vehicle for expanding the TTL Group's service and consulting operations. Further information can be found in the quarterly report on our homepage

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