TTL Beteiligungs- und Grundbesitz-AG
TTL Info. Technology AG english
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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TTL AG ups its turnover during the first half of 2001 as well
TTL Information Technology AG, Munich, a provider of integrated IT services
(Neuer Market SIN 750 100) reports continued growth over the first half of this
year as well.
On 30 June 2001, the group had succeeded in upping its turnover to DM 59.3m
(preceding year: DM 49.9m). This signifies growth of 19 % over the preceding
year. When TTL AG is considered separately, the increase over 2000 is an
impressive 26 %. Turnover with TTLs core business was DM 540k (+1 %) over the
budgeted figure, while turnover at TTL Consult IT GmbH DM was 683k (+39 %) above
target. Turnover at 1st DATA was below budget at DM 9,030k (minus 41%).
The mid-year operating result (EBITA), at 1.4 million DM (preceding year: 3.5
million DM), was 0.4 million DM below budget. The operating results of TTL AG,
at DM 920k, plus those of TTL Consult IT GmbH, at DM 429k, are above the
budgeted figures. The drop in profits is attributable to the non-achievement of
turnover and earnings targets at 1st DATA Solution Vertriebs-GmbH. The extensive
restructuring initiatives conducted mean that cost reductions amounting to DM
2m p.a. can be anticipated for the 2002, so that business turnaround will be
achieved.
Goodwill write-down for the subsidiaries entailed an outlay of DM 2.4m as per 30
June 2001; the company has also formed a further provision into the special
fund, where the funds from the last cash capital increase have been invested.
This provision now comes to DM 3.2m. Profits after tax were accordingly minus DM
6.6m. This figure includes non-recurrent expenses entailed by the restructuring
program, plus consultancy work within the context of acquisition projects. In
last years equivalent period, the profits were DM 0.3m
For 2001 as a whole, turnover is expected to reach DM 130m (+20 %) and an EBITA
at DM 6.2m (minus 11 %); profits after tax, however, will not yet be positive,
due to the one-off burdens listed above. The company continues to possess high
reserves of liquidity.
The integration process already announced had been largely completed by mid-
year, with initial synergies already emerging.
Munich, 31 August 2001 Shareholder Hotline: +49(0)89/381611-25
end of ad-hoc-announcement (c)DGAP 31.08.2001
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WKN: 750100; Index:
Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf,
Hamburg, Hannover, München
310805 Aug 01
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