Synaxon AG
PC Spezialist Franchise english
PC-SPEZIALIST first-half results
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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PC-SPEZIALIST first-half results / EPS increases / Cash flow from operating
activities more than doubles / EBIT margin grows by 58.7%
EBIT: +8,4% / TEUR 2,413 (previous year: TEUR 2,225)
EBIT margin: 43.0% (previous year: 27.1%)
EPS: EUR 0.41 (previous year: EUR 0.39)
Operating cash flow: +133% / TEUR 1,920 (previous year: TEUR 824)
Equity ratio: 84.6% (previous year: 72.1%)
PC-SPEZIALIST Franchise AG (WKN 687 380) was able to buck the general market
trend in the first half of the 2002 financial year by maintaining its forward
momentum and exceeding its record earnings performance achieved in the first six
months of 2001. In contrast, Germany’s IT sector as a whole had to contend with
its fifth below-par quarter in succession. Consolidated net profits rose by
4,8% to TEUR 1,567 (previous year: TEUR 1,495). EBIT grew by 8.4% to TEUR 2,413
(previous year: TEUR 2,225). Revenues generated by PC-SPEZIALIST amounted to
TEUR 5,606 as at June 30, 2002 (previous year excluding VD: TEUR 5,638 /
previous year including VD: TEUR 8,210). During the first half of 2001, the
online ordering system Virtual Distribution (VD) had processed merchandise sales
not recognised in profits or losses. VD was temporarily discontinued towards
the end of 2001, and it remained “off-line” throughout the first half of 2002.
As at June 30, 2002, the Group had 961 retail partners (previous year: 862) – of
whom 121 were franchise partners and 840 belonged to the MICROTREND system. The
company managed to more than double its operating cash flow compared with the
previous year; at June 30, 2002, operating cash flow stood at TEUR 1,920 (June
30, 2001: TEUR 824 ; March 31, 2002: TEUR 1,126). The company’s management has
reaffirmed its commitment to its annual target of EUR 1.20 earnings per share.
34,2% of the overall target for the financial year has already been achieved.
Traditionally, the second half of the year accounts for the largest proportion
of sales within the IT retail sector. In 2001, for instance, PC-SPEZIALIST
generated more than 40% of its annual income in the fourth quarter, despite
relatively mediocre pre-Christmas trading. The market research institute IDC
believes that business in the run-up to Christmas 2002 will be particularly
buoyant in EMEA with a 4.9% yoy increase in sales volumes.
end of ad-hoc-announcement (c)DGAP 20.08.2002
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WKN: 687380; ISIN: DE0006873805; Index:
Listed: Neuer Markt Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf,
Hamburg, München, Hannover und Stuttgart
200750 Aug 02
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