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16.05.2000 – 07:33

All for One Group AG

ots Ad hoc-Service: AC-Service AG Core Divisions Show Sales Growth of 40%

The sender is solely responsible for the contents of this announcement. -----------------------------------------------------

    Stuttgart (ots Ad hoc-Service) -  

    IT Outsourcing and Human Resource Services already contributing 2/3 of total sales volume. Distribution Solutions markedly below expectations. Total sales increase by almost 4%

    Stuttgart, 16.05.2000 - AC-Service was able to increase sales by 40% to DEM 17.5 million in the first quarter of 2000 within its two strategic business divisions IT Outsourcing and Human Resource Services. Sales for the same period last year were DEM 12.5 million. In the first three months of 2000, these two divisions have already contributed two-thirds of total sales. During this first quarter the Distribution Solutions division showed an unexpectedly large 39% decline in sales to DEM 6.8 million compared to the DEM 11.2 million of the same period last year. The Board of Directors is working intensively on a solution. In light of these contrary developments, AC-Service's total sales went up by about 4% to DEM 26.6 million (prior year after three months: DEM 25.7 million).

    External sales in the Human Resource Services core division after three months were DEM 9.1 million, topping the DEM 5.7 million of the same quarter last year by 60%. The operating result (EBIT) of DEM 1.6 million is 78% above that of the first quarter of the previous year (DEM 0.9 million). This disproportional increase is due mostly to last year's successful acquisitions. External sales after the first three months of 2000 in the IT Outsourcing core division reached DEM 8.4 million, which is an increase of 24% over the DEM 6.8 million of the same period last year. EBIT declined from DEM 0.8 million in the first quarter of 1999 to DEM 0.5 million in 2000 because of increased expenditure on infrastructure and personnel. Acquisitions are to further enlarge the IT Outsourcing division. Financial achievements of the Distribution Solutions division remained far below both expectations and last year's quarterly results. External sales for first quarter of 2000 dropped 39% from DEM 11.2 million to DEM 6.8 million. The operating loss for the first three months of 2000 amounted to DEM 1.9 million. Lower than expected licence sales and related weak utilisation of professional staff were the main factors responsible for these results.

    The number of staff employed (in full-time equivalents) as of 31 March 2000 was 439 people (prior year: 356 people). As a result of the negative profit contribution of the Distribution Solutions division, the entire corporation's DEM 0.3 million operating result (EBIT) after the first three months of 2000 remained markedly below expectations and the results (DEM 2.8 million) for the same period last year. The unexpectedly low net profit for the period of DEM 0.2 million (prior year after three months: DEM 1.6 million) was mainly due to the Distribution Solutions division. Adjusted for the loss contribution of this division, the operating profit for the reporting period would have risen by 114% to DEM 2.3 million in comparison to the adjusted result of the first quarter of 1999.

    The Apax and Alpha venture capital companies, whose advised funds each maintained 4.4% of shares, have sold their stock packages. BEKO Holding AG is using AC-Service's low stock price level to buy additional shares and to further expand its 5% share.

    An unabridged copy of the Quarterly Report 1/2000 will be sent personally to each shareholder listed in the corporation's stock register and can also be downloaded from the Internet at www.ac-service.com.

End ----------------------------------------------------- Internet: http://recherche.newsaktuell.de

Original-Content von: All for One Group AG, übermittelt durch news aktuell

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