Synaxon AG
PC Spezialist Franchise english
PC-SPEZIALIST Q1/2002 Results
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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PC-SPEZIALIST Q1/2002 Results / Profits increased yet again, despite weakened IT
market / Record EBIT margin of 49.4%
Bielefeld, 28 May 2002: PC-SPEZIALIST Franchise AG (WKN 687 380) was able to
achieve another increase in profits in the first quarter of 2002 – despite a
weakened German IT market. Consolidated net profit rose by 3.8% to TEUR 909
(previous year: TEUR 876), which equates to earnings per share of EUR 0.24
(previous year: EUR 0.23). EBIT grew by 5.7% to TEUR 1,407 (previous year: TEUR
1,331). PC-SPEZIALIST’s EBIT margin reached an all-time record of 49.4%
(previous year: 30.3%).
As expected, registering TEUR 2,849, consolidated sales revenues were lower than
in the previous year (TEUR 4,397). The previous year’s sales figures contained
merchandise revenue of TEUR 1,533 (not affecting income), generated via the
Virtual Distribution online-ordering system. These revenues were no longer
applicable in Q1/2002, as the above-mentioned system was discontinued at the end
of 2001. Operating revenues from royalties, membership fees, supplier
commissions as well as other fees were comparable with the figure posted in the
previous year.
Once again, PC-SPEZIALIST was solidly financed in Q1/2002, virtually without the
assistance of banks and boasting an equity ratio of 85.0% (previous year:
80.7%). Cash flow from operating activities was well above par, at TEUR 1,126
(previous year: TEUR -264). As at 31 March 2002, the Group had 946 retail
partners (previous year: 825). Of these partners, 127 belong to the PC-
SPEZIALIST franchise system and 819 are structured within the IT cooperative by
the name of MICROTREND. With an estimated 8% year-on-year decline in PC sales,
the German IT market recorded its fourth negative quarter in succession in the
first three months of 2002. Market research institutes have forecast a
considerable increase in demand within Germany’s IT market for the second half
of 2002 – an estimate that would appear to be justified considering the
relatively low level of saturation of just 34% in terms of PC ownership in
Germany. PC-SPEZIALIST has reaffirmed its targets for the current financial
year. Earnings per share are to be increased to EUR 1.20. As was the case in
previous years, the company will not be able to put forward an accurate estimate
as regards the feasibility of this target before the end of the third quarter.
end of ad-hoc-announcement (c)DGAP 28.05.2002
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WKN: 687380; ISIN: DE0006873805; Index:
Listed: Neuer Markt Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf,
Hamburg, München, Hannover und Stuttgart
280805 Mai 02
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