ots Ad hoc-Service: AC-Service AG <DE0005110001> Focus on Outsourcing and ASP for profitable growth
Stuttgart (ots Ad hoc-Service) -
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Sale of Distribution Solutions business division. Continuing operations post sales plus of 33% after nine months. Profitability despite major expenditures for further business expansion.
The agreementwith bäurerAG on the divestiture of the Distribution
Solutions division has moved AC- Service a decisive step forward on
the path to becoming an IT company focused on Outsourcing and
Application Service Provision (ASP). Even in the quarterly report,
the clear growth prospects for the continuing Outsourcing and ASP
operations stand out distinctly after the separate reporting of the
earnings figures for the discontinuing Distribution Solutions
division in accordance with IAS 35 ("discontinuing operations"). In
its continuing operations AC-Service generated total sales revenues
of DEM 57.5 million after nine months (prior year: DEM 43.2 million)
with an increase of 33%. The business divisions IT Outsourcing
contributed DEM 25.9 million (prior year: DEM 21.1 million) and Human
Resource Services DEM 25.0 million (prior year: DEM 16.1 million) to
the overall sales revenues. Other operating activities accounted for
sales of DEM 6.6 million (prior year: DEM 6.0 million). This 33% (DEM
14.3 million) nine-month sales growth is due primarily to the payroll
operations acquired in November 1999, and to new client projects in
line with our major push to establish SAP-based Outsourcing and
Application Services. Quarterly sales of the continuing operations
totaled DEM 19.0 million (3rd quarter 1999: DEM 14.3 million). This
figure includes first-time consolidated sales of some DEM 1 million
from our holdings in the SAP consulting house Process Partner AG. As
of 30 September 2000 the effective personnel strength of the
continuing operations was 280 (prior year: 184). Adjusted for the
discontinuing Distribution Solutions division, AC- Service posted a
nine-month EBIT of DEM 1.3 million (prior year adjusted: DEM 3.6
million). This drop in adjusted EBIT is attributable for the most
part to start-up costs for the expansion of high-growth business
activities in the field of SAP-based Outsourcing and Application
Services. After nine months the discontinuing Distribution Solutions
division posted external third- party sales of DEM 18.9 million
(prior year: DEM 29.7 million) along with an operating loss of DEM
6.6 million (prior year: operating profit of DEM 1.4 million). At the
2000 half-year mark AC-Service - including the Distribution Solutions
division - had announced a markedly negative EBIT for the year as a
whole. But now, taking into consideration the anticipated DEM 12.7
million in pretax gains from the disposal of the Distribution
Solutions division, AC-Service expects a clearly positive EBIT for
the group in 2000. With the decision to discontinue its Distribution
Solutions division, AC-Service gained a clearly focused business
alignment representing a solid basis for profitable growth. From its
two business divisions IT Outsourcing and Human Resource Services
(outsourcing of payroll accounting) AC-Service aims to achieve a
significant position in Outsourcing and ASP in the German-speaking
parts of Europe.For further information see www.ac-service.com
AC-Service AG Dirk Sonntag D-70501 Stuttgart Tel.: +49 (0) 711 / 78 80 7-26 Fax: +49 (0) 711 / 78 80 7-27
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