Ad-hoc | 28 August 2002 00:59

AC-Service AG english

AC-Service Boosts Sales, Cash Flow and Profits Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– AC-Service Boosts Sales, Cash Flow and Profits Quarterly sales increase 14% to EUR 13 million. EBIT triples to EUR 0.9 million in quarter. Strong balance sheet. Operating cash flow climbs to EUR 3.5 million after six months. Stuttgart, 28 August 2002 AC-Service, the IT service provider focused on outsourcing and consulting, improved its sales revenues, profit and cash flow even further in the second quarter of 2002. Quarterly sales rose 14% to EUR 13.0 million (EUR 11.4 million), the EBITDA (earnings before interest, taxes, depreciation and amortisation) for the continued business divisions increased to EUR 2.5 million (EUR 1.8 million), while the second-quarter EBIT (earnings before interest and taxes) improved to EUR 0.9 million (EUR 0.3 million). Net period earnings for the continued business divisions climbed to EUR 0.2 million (none in prior year), or quarterly earnings per share of EUR 0.04 (none in prior year). The company had 344 (312) equivalent full-time employees as of 30 June 2002. The six-month results also underscore the positive business development. Cash flows from operating activities rose to EUR 3.5 million (EUR 0.1 million). Half-year sales totalled EUR 25.1 million, a good 9% better than the EUR 23.0 million of the same period last year. The half-year EBIT improved to EUR 1.5 million (EUR 0.6 million), while the six-month results of EUR 0.6 million (EUR – 0.1 million) reflect earnings of EUR 0.11 per share (EUR -0.02, continuing operations) (discontinued operations half-year actual: EUR -0,02). AC-Service enjoys a robust and strong balance sheet. Cash and cash equivalents totalled EUR 8.3 million (31 Dec 01: EUR 6.4 million) as of 30 June 2002. Shareholders’ equity of EUR 25.9 million (31 Dec 01: EUR 25.4 million) comprises 62% (31 Dec 01: 62%) of the balance sheet total of EUR 42.2 million (31 Dec 01: EUR 41.1 million). The Board of Directors expects to continue this positive business trend. Additional information is available on the Internet at http://www.ac-service.com end of ad-hoc-announcement (c)DGAP 27.08.2002 ——————————————————————————– WKN: 511000; ISIN: DE0005110001; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, München, Hannover und Stuttgart 280059 Aug 02