Ad-hoc | 14 May 2003 01:00

AC-Service AG english

AC-Service Continues to Post Gains in a Demanding Market Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– AC-Service Continues to Post Gains in a Demanding Market Sales increase 10% to EUR 13.3 million. EBIT improves from EUR 0.6 to 1.0 million. Earnings per share doubled. EUR 12.9 million in cash and cash equivalents. Well-balanced portfolio of outsourcing and consulting services. Stuttgart, 14 May 2003 AC-Service’s excellent business performance continues unabated. This marks the ninth quarter in a row that this IT service provider increased revenues and earnings in a demanding market through its focus on IT Outsourcing, Human Resource Services and SAP Consulting business divisions. This first quarter of 2003 closed with sales growing 10% to EUR 13.3 million (prior year: EUR 12.1 million) and an EBIT of EUR 1.0 million (prior year: EUR 0.6 million). The EBIT margin to sales was 7% (prior year 5%). The after-tax profit of EUR 0.6 million (prior year: EUR 0.3 million) reflects earnings per share (IFRS) of 12 euro cents (prior year: 6 euro cents). AC-Service enjoys a strong and healthy balance sheet. Cash and cash equivalents as of 31 March 2003 totalled EUR 12.9 million (31 Dec 02: EUR 12.3 million), while the shareholders’ equity of EUR 26.7 million (31 Dec 02: EUR 26.2 million) accounts for 59% (31 Dec 02: 59%) of the balance sheet total EUR of 45.0 million (31 Dec 02: EUR 44.6 million). AC-Service had a full-time equivalent personnel strength of 322 (prior year 340) employees at the end of this first quarter. The company’s concentration on high-quality outsourcing and consulting services has proven itself to be a well-balanced portfolio in an exceptionally challenging market environment. Additional information available on the Internet at www.ac-service.com end of ad-hoc-announcement (c)DGAP 13.05.2003 ——————————————————————————– WKN: 511000; ISIN: DE0005110001; Index: Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 140100 Mai 03