tecis Holding AG
Tecis Holding AG english
Ad-hoc-announcement processed and transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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tecis again growing much faster than market
– Heavy demand for long-term investment and occupational disability policies
– Revenues up 26 % in first six months of 2001
– Profit going to plan
In the second quarter of this year tecis Holding AG again grew much faster than
the market as a whole. Commission revenues rose by 26% from DM 52.2 m in the
first half of 2000 to DM 65.6 m in the first half of this year. The Group’s
commissions surplus increased even faster – by 53% from DM 19.1 m to DM 29.2 m.
This was because a significantly higher share of Group revenues was accounted
for by tecis Finanzdienstleistungen AG, which operates at higher margins. Pre-
tax profit rose by 53% from DM 4.9 m to DM 7.5 m while the Group’s profit was
up by a massive 76% from DM 2.5 m to DM 4.4 m, partly as a result of Germany’s
tax reforms. The official figures for the first six months of 2001 are thus
very much in line with the provisional ones published at the beginning of July.
In the case of revenues and commissions surplus, the final figures were
actually slightly better.
The continuing strong performance of tecis Finanzdienstleistungen AG was
particularly impressive. The growth of the Group’s most important subsidiary
was based on its broadly based investment product portfolio geared to long-term
wealth formation and insurance products covering existential risks. The strong
demand for fund-based policies and occupational disability and private medical
insurance more than offset the decline in one-off cash inflows into investment
funds. Sales of equity funds fell by only 28% whereas the industry as a whole
suffered an average fall of more than 80%. At the same time, the demand for
tecis’ fund-based products for long-term wealth formation rose by 55%. The
tecis products geared to covering existential risks grew even more
impressively: private medical insurance by 81% and occupational disability
insurance by a massive 149%.
It was not just the product portfolio but also the consistent policy of
expanding the networks of representative offices and sales partners in the past
two years that contributed to this subsidiary’s strong growth. Experience shows
that a representative office needs around three years before it has established
itself in a local market and can fully exploit its revenue potential. A further
26 representative offices were opened in the first six months of this year (10)
while the number of sales partners rose by 185 (122). Last year’s figures are
in brackets.
In view of the positive development of revenues and profits in the first six
months, the Group’s target figures for 2001 as a whole are very likely to be
met in full.
Leander Hollweg; E-mail: l_hollweg@tecis.de
Phone + 49 40/69 69 51-287; Fax + 49 40/69 69 51 288
Dr. Jürgen Gaulke; E-mail: GaulkeJ@aol.com
Phone + 49 177/679 30 60; Fax +49 40/3603 036 592
end of ad-hoc-announcement (c)DGAP 30.08.2001
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WKN: 621160; Index: MDAX
Listed: Amtlicher Handel in Frankfurt, Hamburg, Freiverkehr in Berlin, Bremen,
Düsseldorf, München, Stuttgart
300746 Aug 01
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