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ots Ad hoc-Service: plenum AG
plenum AG invests in high-growth, high-return markets
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Wiesbaden (ots Ad hoc-Service) - plenum AG invests in high-growth, high-return markets - Investments of over DM 20 million pave way for expansion - Sales increase by over 40% in 2000 to around DM 72 million
plenum AG has laid the foundation for future growth in fiscal year 1999 with its transformation from a consulting-oriented IT service provider to an innovative IT solutions provider. The company has positioned itself as a new business architect and end-to-end solutions partner. It plans to massively expand the newly founded New Media business unit in addition to the high- growth plenum Systeme unit.
plenum New Media is a general contractor for e-business and e- communications solutions, and well-known companies such as Victoria Versicherung, the Gerling Group and Schering AG rely on its expertise. The company plans to invest heavily in the expansion of the channelling business segment in particular. The development of the Companion Network in Germany and abroad and the optimisation of the plenum equity investment portfolio are the responsibility of the new plenum New Venture business unit. The business areas covered by this unit range from active management of associates through corporate development to interim management. The current equity investment portfolio, in which listed companies alone account for a volume of over DM 100 million, offers an excellent starting point for the development of plenum New Venture.
plenum AG intends to invest more than DM 20 million in the next two years. The focus of these investments will be on Internet technologies and new media. The funds will also be channelled into the company's internationalisation strategy and the expansion of its sales and marketing activities. The investments in 2000 and 2001 will lay the groundwork for above- average earnings growth in the years to follow. plenum is forecasting EBIT of over DM 30 million for 2003, with plenum Systeme contributing some DM 11 million and New Media around DM 6 million. Revenues are expected to increase to well over DM 200 million by 2003. The company expects revenues to grow by over 40% to around DM 72 million for fiscal year 2000. Investments will increase by around 200% to approximately DM 11 million, for an EBIT margin of about 4%.
In fiscal year 1999, plenum AG increased its revenues by 27% to DM 50.2 million (previous year: DM 39.6 million). EBIT dropped by 30% to DM 5.8 million (previous year: DM 8.3 million) as a result of specific investments in the development of innovative technology solutions, plenum had EBT of DM 6.4 million (previous year: DM 9.1 million) with an EBT margin of 13% (previous year: 23%). Net income for the period (US GAAP) amounted to DM 3.7 million, falling 12% short of the previous year's figure adjusted for special tax effects (DM 4.2 million). plenum AG's earnings per share according to US GAAP was DM 0.53 after DM 0.64 in 1998.
The Managing Board will discuss the annual financial statements and its growth strategy at the financials press conference today at 10:30 in Frankfurt am Main.
For additional information, please contact Ilka Helmers Investor Relations Phone: +49 (0)611 9882-255 Fax: +49 (0)611 9882-177 E-mail: firstname.lastname@example.org
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