tecis Holding AG
Tecis Holding AG english
tecis records stable sales with further high gross profit margin
Ad-hoc-announcement processed and transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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tecis records stable sales with further high gross profit margin
– Significant growth expected in second half-year
– Great potential in the area of corporate pension plans
Hamburg, 04.04.2002. According to preliminary figures, the tecis group achieved
sales and results of the same volumes as those of the previous year’s strong
first quarter, despite the continuation of a difficult market environment in
the first quarter of 2002: With commission sales of EUR 16.6m (2001: EUR
16.8m), commission earnings of EUR 7.3m (EUR 7.5m) and a gross profit margin of
44% (44%) compared well with the levels of the previous year, despite the
continuing weakness of stock markets. As expected, the group’s annual net
income declined to EUR 0.5m (EUR 1.3m). The quarterly results for the previous
year included one-off revenues to the tune of EUR 0.3m. In light of the stable
levels of sales and earnings, the board of management affirmed its target for
the year of double digit growth in group sales and profits. With the generally
expected upturn on stock markets during the second half of the year as well as
the particular increase in business due to the cut-off date for state subsidies
for the ‘Riester’ Pension at the end of 2002, group sales totaling EUR 85m to
EUR90m (+26% to +34%) and annual profits of EUR 5.6m to EUR 6.3m (+10% to +24%)
are expected in 2002.
The most important subsidiary, tecis Finanzdienstleistungen AG, which acts as a
financial planner for private households, achieved commission sales of EUR
12.2m (EUR 12.4m) and commission earnings of EUR 5.3m (EUR 5.5m). The number of
representative offices rose by 5 from 143 to 148.
The net inflow of funds into the tecis funds of funds at tecis Asset Management
AG totaled EUR 6.8m in the first quarter of 2002. The activities of tecis
Maklerservice AG continued to remain below expectations.
There was a pleasing development at tecis Versicherungsmakler AG. tecis is
currently in negotiation with around 90 companies in the field of corporate
pension plans.
Due to the continuing weak environment, the board of management is still not
expecting any significant acceleration in growth during the second quarter of
2002. Company results will still be temporarily burdened in the first two
quarters by the expanded personnel capacity at tecis Service AG to allow for
increased sales, but this will enable the handling of the double digit growth
rates in future, thus ensuring long-term economies of scale.
The financial statement press conference of tecis Holding AG will be held on
April 18 2002 at 9 a.m. in Hamburg (Dorint Hotel, Alter Wall), the DVFA
analysts’ conference takes place in Frankfurt (in the rooms of the DVFA) on the
same date, commencing at 4p.m.
Dr. Hartmut Schüning: +49 40 696951 118 (CFO),
Hartmut Wenzel: +49 40 696951 585 (Investor Relations)
and Leander L. Hollweg: +49 40 696951 287 (Public Relations) are available to
assist you with any further queries.
end of ad-hoc-announcement (c)DGAP 04.04.2002
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WKN: 621160; ISIN: DE0006211600; Index: MDAX
Listed: Amtlicher Handel in Frankfurt und Hamburg; Freiverkehr in Berlin,
Bremen, Düsseldorf, München und Stuttgart
040729 Apr 02
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