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.
——————————————————————————–
tecis still on a growth course
– revenues up 25%
– disproportionately large 76% increase in net income
– 26 new representative offices opened
– tecis does not yet see any advantages for customers from “Riester” products
tecis Holding AG, Hamburg’s preliminary figures for the first half of fiscal
2001 reveal that the Company is still on course for continued growth: The tecis
Group’s revenues climbed by 25% to DM 65.3 (first half of 2000: 52.2) mn. Net
commissions rose evenmore sharply by 52 % to DM 29.0 (19.1) mn. This
disproportionately strong growth is due to the substantially higher
contribution to consolidated revenues made by tecis Finanzdienstleistungen AG,
which operates at broader margins. Spurred by the tax reform which came into
effect at the beginning of the year, net income increased even more sharply by
76% to DM 4.4 (2.5) mn.
The final two quarters or the year historically generate stronger revenues for
tecis than the first half. Accordingly, it continues to project a 34% increase
in full-year revenues to DM 160 mn in tandem with net income for the year of
DM 12.5 mn, up 60%.
Continuing on from the heady growth of 2000 (up 32), the Group’s revenues
mainstay, tecis Finanzdienstleistungen AG, added a further 26 representative
offices in the first six months of 2001, bringing the total to 119. The planned
increase of 47 to 140 offices is already definite thanks to the “2000 and 2001
start-up program”, explains tecis Holding AG’s CEO, Christian Steinberg. The
number of sales partners has been raised from 185 to 1,450, with this figure
set to reach 1,750 by year-end. In spite of the difficult state of the
financial markets, tecis Asset Management AG has been able to keep the volume
of assets under management stable since the beginning of the year. Business at
tecis Maklerservice AG has remained steady at the levels achieved in the
second half of 2000. tecis Versicherungsmakler AG can look back on a successful
first half, meaning that the Group as a whole performed fully in line with
projections.
Steinberg sees favorable business opportunities in the second half of the year
for tecis Finanzdienstleistungen AG in particular. Even so, he does not expect
the planned government support for private pension-savings (the so-
called “Riester” pension) to generate much new business in the near future. In
fact, the Company will be writing to its almost 190,000 customers over the next
few days, advising them to put off any decisions at this stage in connection
with the “Riester” pension. More appealing products should be available as of
the 4th quarter of 2001 at the earliest. tecis wants to increase the number of
representative offices to 250 between now and the end of 2003. Commission
income is to be more than doubled from DM 119 mn in 2000 to over DM 255 mn in
2003. At the same time, the Company plans to deliver a disproportionately large
increase in net income from DM 7.8 mn in 2000 to at least DM 27 mn in 2003. In
the long term, Steinberg says, the German market offers enough potential for
more than 800 tecis representative offices serving over one million customers.
Leander Hollweg Dr. Jürgen Gaulke
Email: l_hollweg@tecis.de Email: GaulkeJ@aol.com
Tel.: +49 40/69 69 51-287 Tel.: +49 177/679 30 60
Fax: +49 40/69 69 51-288 Fax: +49 40/36 03 03 65 92
end of ad hoc announcement (c) DGAP 02.07.2001
——————————————————————————–
WKN: 621160; Index: MDAX
Listed: Amtlicher Handel in Frankfurt, Hamburg, Freiverkehr in Berlin, Bremen,
Düsseldorf, München, Stuttgart
022021 Jul 01
Latest News
Latest Reports
No Reports found
Upcoming Events
No Events found
Webcasts
No Webcasts found