Techem AG
Techem AG: Pace of Growth Uninterrupted in H1
Techem AG / Half Year Results Release of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- At EUR 47.7 million, adjusted EBIT improves significantly Eschborn - Techem AG, the leading provider of services to Europe's housing and real estate industry, has been able to achieve a marked rise in both revenue and earnings for the first six months (1 October to 31 March ) of the current fiscal year. Revenue rose by 13.7 percent from EUR 251.4 million a year ago to EUR 285.9 million, while recurring EBIT increased by 11.7 percent to EUR 47.7 million (H1, 2005/2006: EUR 42.7 million). Net income for the first six months even leapt by 26 percent to EUR 33 million (EUR 26.2 million). Techem has thus been able to make up for the negative effects of the takeover attempts made in the first few months and already finds itself back on the medium-term growth path it is pursuing. As the changeover to new billing software entails recording revenue and earnings earlier during the course of the year, Techem has provided information about adjusted ('recurring') EBIT for the first time, especially as further extraordinary items have resulted in significant expenditure. The Company includes consultancy costs in connection with the defense against the takeover bid (EUR 10.8 million) and the accounting gain on the disposal of Techem IT Services (EUR 7.4 million) in such expenditure. EBIT without adjustment for extraordinary developments amounted to EUR 53.6 million, up 17.8 percent on the comparative figure for the same period last year of EUR 45.5 million. Both business areas managed to post significant revenue increases. Energy Services was up 15.5 percent to EUR 232.2 million (EUR 201.3 million). The business area is continuing to achieve brisk sales for leading edge radio-based technology. In the meantime, 27.1 percent of all the 31.6 million measuring devices in Germany atre radio-controlled compared with 22.3 percent a year ago. The mild winter and lower energy prices had a tangible impact on Energy Contracting revenue, which nevertheless rose by 16.6 percent to EUR 53.3 million (H1, 2005/2006: EUR 45.7 million). International revenue rose from EUR 30.5 million to EUR 35.1 million. Investor Relations contact: Curd-Hasso von Flemming Tel. + 49 6196 522 2838 c.flemming@techem.de press contact: Stefan Lutz Tel. + 49 6196 522 2990 stefan.lutz@techem.de DGAP 03.05.2007 ---------------------------------------------------------------------- Language: English Issuer: Techem AG Hauptstr. 89 65760 Eschborn Deutschland Phone: +49 (0)6196 522-0 Fax: +49 (0)6196 522-3000 E-mail: investor@techem.de www: www.techem.de ISIN: DE0005471601 WKN: 547160 Indices: MDAX Listed: Amtlicher Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin-Bremen, Düsseldorf, Hamburg, München, Stuttgart End of News DGAP News-Service ---------------------------------------------------------------------------
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