tecis Holding AG
Tecis Holding AG english
tecis sees continued growth and increased margins
Ad-hoc-announcement processed and transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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tecis sees continued growth and increased margins
– Growing demand for long-term investments and insurance products
– Strong rise of 47% in commission earnings
– Net inflow of funds of EUR80m in Q3
– Effects of September 11 still not definitively assessable
In the third quarter of 2001 tecis Holding AG was again able to continue on its
course of growth and to develop at a rate distinctly above that of the market.
Commission sales in the first nine months of 2001 rose by 24% to EUR50.9m
compared to the same period in the previous year (EUR41.2m). The net commission
earnings of the group rose disproportionately to the growth in sales by 47% to
EUR23.0m (EUR15.6m). Correspondingly to this the gross profit margin, the
relation of net commission to commission sales, increased to 45.2% (37.9%). The
reason for this disproportionate growth is the significant increase in
contributions made to the total sales of the group by tecis
Finanzdienstleistungen AG which works with higher margins. Pre-tax results rose
by 38% to EUR6.5m (EUR4.7m). Annual net income increased by 48% to EUR3.7m
(EUR2.5m). The quality of yield contained in this figure has actually improved
even more as additional one-off earnings of EUR0.75m were posted in the third
quarter of the previous year. In the first nine months the tecis Group achieved
a high inflow of funds of EUR250m, of which around EUR80m were achieved in the
third quarter alone, and is therefore distinctly above the trend within the
industry. Thus the final results matched the figures which were published at
the beginning of October.
Significantly tecis Finanzdienstleistungen AG, the most important subsidiary in
the group, proved itself to be the least influenced by the present weakness of
the stock markets in recording continued stable growth in sales, anchored in a
broad-based investment product portfolio focusing on long-term asset growth and
also, increasingly on products for provision against existential risks. In the
third quarter alone over 8000 new clients were acquired. At the end of September
the total number of clients advised by tecis Finanzdienstleistungen AG was
around 196 000 (year-end 2000 = 170 000). The continuing growth dynamic in
advising private clients is demonstrated by the increase in sales revenues from
occupational disability insurance policies (108%) as well as those of unit-
linked life insurance (51%), investment savings plans (30%), and private
healthcare insurance (107%).
For more information, please contact Andre Noll (investor relations) on +49 40
69 69 51-743 immediately after publication of the ad-hoc release.
end of ad-hoc-announcement (c)DGAP 29.11.2001
Issuer’s information/explanatory remarks concerning this ad-hoc-announcement:
The overall effects of September 11 on this business are still too difficult to
definitively gauge. In September total sales were below target due to the
influence of the terrorist attacks. In October, however, tecis still achieved a
significant increase on the previous year, which was nonetheless a shade below
target. In all the tecis Group will definitely once again achieve a significant
rise in both sales and net earnings in the 2001 financial year. The most
striking feature in the coming year will be the growth resulting from offices
which have already opened and from the expansion of our IFA network, as these
achieve their full potential. Additionally further impetus will result from the
opening up of new markets, for example in the area of corporate pension plans,
where tecis already acquired its second large corporate client in November.
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WKN: 621160; Index: MDAX
Listed: Amtlicher Handel in Frankfurt und Hamburg; Freiverkehr in Berlin,
Bremen, Düsseldorf, München und Stuttgart
290716 Nov 01
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