TDS Informationstechnologie AG / Release of an announcement according to Article 37x of the WpHG [the German Securities Trading Act]
12.02.2009
Interim report according to Article 37x of the WpHG
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TDS posts 17.7 % increase in revenues in the first nine months of 2008/09
- Consolidated net income improves by 55.5 % during the period April to
December 2008
- Revenues up by 6.8 % in the third quarter
- Revenues in fiscal 2008/2009 will exceed forecast figures
Neckarsulm, Germany, 12 February 2009. TDS Group (ISIN DE0005085609)
revenues rose by 17.7% in the first nine months of fiscal 2008/09 (1 April
to 31 December 2008), to 98,192 thousand euros from 83,423 thousand euros
in the same period last year (1 April to 31 December 2007). All three
segments - IT Outsourcing, HR Services & Solutions und IT Consulting -
contributed to the growth in revenues.
TDS increased earnings before interest, taxes, depreciation and
amortisation (EBITDA) by 7.6 % during the reporting period, from 15,309
thousand euros to 16,478 thousand euros. Earnings before interest and taxes
(EBIT) grew by 2.8% compared to the same period last year, to a total of
8,517 thousand euros. The EBITDA margin and EBIT margin were 16.8 % and 8.7
% respectively. Net income after the first nine months was 4,965 thousand
euros, a 55.5% increase over the same period last year (3,192 thousand
euros). Earnings per share rose from 0.11 euros last year to 0.17 euros.
In line with the growth in revenues, TDS has increased headcount. On 31
December 2008, TDS had 1,070 employees, compared with 949 on 31 December
2007 and 1,043 at the end of the second quarter of fiscal 2008/09.
Continued growth in third quarter
Despite the significant deterioration in the general economic climate since
autumn 2008, revenues improved by 6.8 % in the third quarter, to 34,472
thousand euros (compared with 32,283 thousand euros in the same period last
year). EBIT rose by 0.8 % to 4,419 thousand euros, compared with 4,383
thousand euros last year. Compared with the same quarter last year,
consolidated net income increased by 12.8 %, from 2,417 thousand euros to
2,727 thousand euros. Earnings per share totalled 0.09 euros in the third
quarter (0.08 euros in the same period last year).
TDS gained multiple new customers in the third quarter, including RAPS GmbH& Co. KG, a spice manufacturer based in Kulmbach, which has outsourced
significant aspects of the operation of its IT infrastructure to TDS.
Berlin-based HELIOS Klinikum Emil von Behring tasked TDS with its payroll
accounting for around 1,100 employees. TDS has also partnered with
BodeHewitt, an international HR consulting firm, to offer a combined
portfolio of services related to pension schemes.
Current liabilities continue to decrease
TDS AG's assets and overall financial position remain stable. As planned,
TDS further reduced its current liabilities in the first nine months of
fiscal 2008/09, from 6,357 thousand euros to 3,158 thousand euros (down
50.3%). This is mainly thanks to the decrease in liabilities for income tax
and deferred income.
Cash flows from operating activities climbed to 11,856 thousand euros
during the first three quarters of fiscal 2008/09, from 8,444 thousand
euros last year.
Segments: IT Outsourcing profits continue to grow
IT Outsourcing increased revenues by 17.5 % to 49,828 thousand euros in the
reporting period. EBIT rose by 12.8 % to 7,455 thousand euros with an EBIT
margin of 15.0 %. HR Services & Solutions generated revenues of 37,182
thousand euros, a 19.9 % increase. EBIT fell by 31.1% to 1,196 thousand
euros. Revenues in IT Consulting increased by 23.2% to 19,319 thousand
euros. At the same time, EBIT dropped to minus 133 thousand euros (last
year's figure: minus 67 thousand euros). Profitability in the IT Consulting
segment was down in the third quarter, partly due to strong competition
leading to price pressure in the IT services market. However, TDS
consultants have provided support for an increasing number of projects from
the other two business units, contributing to TDS's overall success in the
third quarter.
Executive Board guidance
It remains to be seen what effects the financial crisis will have on the
global economy and on TDS' business operations. However, it is to be
expected that customers will postpone making capital investments, and this
in turn will have an effect on the licensing and consulting activities of
the HR Services & Solutions and IT Consulting segments.
'We expect that TDS will exceed the forecast revenues for fiscal 2008/09 of
115 million euros,' states Dr. Heiner Diefenbach, TDS CEO. TDS also plans
to achieve the projected EBIT margin of 8 to 9 %. However, it is possible
that the final figure will be on the lower end of this range, due to the
current eco-nomic conditions.
TDS' current fiscal year is the first to run from 1 April to 31 March. To
enable better comparison, figures for the first nine months of fiscal
2008/09 have been compared with those for the second, third and fourth
quarters of fiscal 2007.
Press contact:
TDS AG
Head of Corporate Communications
Heiko Hambrock
Phone: +49 7132 366-1200
Fax: +49 7132 366-1188
E-mail: heiko.hambrock@tds.de
Internet: www.tds.de
DGAP 12.02.2009
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Language: English
Issuer: TDS Informationstechnologie AG
Konrad-Zuse-Straße 16
74172 Neckarsulm
Deutschland
Internet: www.tds.de
End of News DGAP News-Service
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DGAP-IRE: TDS Informationstechnologie AG: TDS posts 17.7 % increase in revenues in the first nine months of 2008/09
| Source: EQS Group AG