Ad-hoc | 15 May 2002 01:12

AC-Service AG english

AC-Service Shows Steady Upswing in Cash Flow and Profit Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– AC-Service Shows Steady Upswing in Cash Flow and Profit Operating cash flow of EUR 3.1 million. Strong balance sheet figures. EBIT doubled to EUR 0.6 million. Sales of EUR 12.1 million for the quarter. Earnings per share climb to 6 euro cents. Stuttgart, 15 May 2002 AC-Service is showing a steady upswing in business performance. The company, specializing in outsourcing and consulting services, has significantly improved its cash flow and profits five quarters in a row. Cash flows from operating activities increased to EUR 3.1 million (EUR -0.6 million). Earnings for the period improved to EUR 0.3 million (from the prior- year period loss of EUR -0.1 million) for per-share earnings of EUR 0.06 (EUR – 0.02). Earnings before interest, taxes, depreciation and amortization (EBITDA) of EUR 2.2 million (EUR 1.6 million) and the operating earnings (EBIT) of EUR 0.6 million (EUR 0.3 million) were significantly bettered in proportion to the quarter’s sales, which rose 5% to EUR 12.1 million (EUR 11.5 million). AC- Service enjoys a robust and healthy balance sheet. Cash and cash equivalents total EUR 7.7 million (31 Dec 01: EUR 6.4 million), while the shareholders’ equity of EUR 25.8 million (31 Dec 01: EUR 25.4 million) now comprises 64% (31 Dec 01: 62%) of the balance sheet’s total of EUR 40.5 million (31 Dec 01: EUR 41.1 million). The number of full-time-equivalent employees as of 31 March 2002 was 340 (317). The Board of Directors expects these favorable business developments to continue. Additional information is available on the Internet at http://www.ac-service.com end of ad-hoc-announcement (c)DGAP 14.05.2002 ——————————————————————————– WKN: 511000; ISIN: DE0005110001; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, München, Hannover und Stuttgart 150112 Mai 02