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ots Ad hoc-Service: APCOA Parking AG <DE0005055503> APCOA Parking AG Stuttgart Airport - Germany - Preliminary annual report /

Stuttgart (ots Ad hoc-Service) -

The sender is solely responsible for the contents of this
announcement.
For the period January to December 1999
APCOA Parking AG announces its unaudited preliminary results for
the year 1999:
APCOA (consolidated)         1999     1998   1997   1996   1995
Net revenues  million DM      331.1   273.8  243.6  204.6  189.2
EBIT          million DM      24.5    22.3   18.7   17.1   15.5
Margin        in%             7.4     8.1    7.7    8.4    8.2
N". of locations
          (as per 31.12.)    437     364     367    330    316
N". of spaces 
          (as per 31.12.) 318.700 270.500 228.800 191.800 174.400
As at December 31, 1999, the APCOA Group had entered into 308
contracts for the management of 437 parking facilities at a capacity
of 318,700 spaces.
In the course of the year 1999 APCOA was able to add 90 new
locations at a capacity of 60,000 spaces to its portfolio. During the
same period, contracts for the management of 60 locations (48,300
spaces) were extended. In the process of optimising the portfolio and
regular attrition, 17 locations (8,000 spaces) were given up.
In 1999, revenues increased by 20.9 % (equivalent to DM 57.3
million). EBIT grew 9.9 % (equivalent to DM 2.2 million) during this
period.
The decreased EBIT margin 1999 vs. 1998 is due to the start up of
one major long-term contract which provided no contribution in 1999
(start up losses); should you exclude the substantial sales from this
contract from the Group's total net revenues, the EBIT margin 1999
would have increased vs. 1998. We expect the turn-around of this
contract in the current year.
The average remaining duration of the Group's portfolio has
increased from 6.9 years in the previous year to 7.2 years in 1999.
Revenue by country unit:
1999        1998         1997         1996        1995
     (million DM) (million DM) (million DM) (million DM) (million DM)
Germany         126.8    120.5        106.7         90.6        82.3
United Kingdom  127.2     95.4         82.3         60.4        55.4
Austria          44.9     42.0         39.4         37.6        37.3
France            --       --          5.5          4.9         5.6
Italy           21.7      6.1          5.1          7.4         5.6
The Netherlands  6.8      6.2          4.6          3.7         3.0
Belgium          3.7      3.6           --           --          --
Consolidated   331.1    273.8        243.6        204.6       189.2
2. APCOA Parking AG announces the preliminary results 1999 for the
acquired EuroPark Group (Oslo):
On 16.12.1999, the share sales agreement relating to the purchase
of all shares in the EuroPark Group was signed with effect from
01.01.1999.
1999 EuroPark (consolidated)
Net revenues:      million DM         127.6
    EBIT:              million DM          12.7
    Margin:            in%                 10.0
The operating result does not include the depreciation for
goodwill.The figures should be regarded as preliminary and unaudited
as the transaction was closed shortly before Christmas 1999 and a new
group accounting system consequently had to be put in place,
The average contract term of the contracts portfolio for the
EuroPark Group is approx. 2 years. As in U.K., contract terms are
traditionally shorter in Scandinavia compared with market conditions
in continental Europe. The past has shown that the contracts are
usually extended if user-friendly service is provided. We feel
certain that a great loyalty on the part of our landlords can also be
sustained in future, last but not least due to the high quality of
the management in EuroPark that has been integrated in the
APCOA-Group.
Dividend policy:
The supervisory and managing boards will recommend the payment of
a dividend of DM 3.60 per share with a par value of DM 5.00 for the
1999 profit distribution subject to the approval of the Annual
General Meeting on April 27, 2000 (1998: DM 3.40).
Forecast 2000:
The managing board has set a target of DM 530 million net sales
and DM 44 million profit (before depreciation of goodwill and
interest expense for the acquisition) for the Group in 2000. This
target is based on internal, organic growth of the enlarged Group and
does not include any contribution from further acquisitions.
Financial agenda 2000:
15.03.2000 Annual Accounts Press Conference 10:00 a.m.
Konferenzcenter ATRIUM (Airport Stuttgart)
27.04.2000 Annual General Meeting 11:00 a.m. Konferenzcenter
ATRIUM (Airport Stuttgart) 3 months' statement 2000
03.08.2000 Press Conference, Half Year Report 2000 10:00 a.m.
Konferenzcenter ATRIUM (Airport Stuttgart)
02.11.2000 9 months' Statement 2000
End
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