tecis Holding AG
Tecis Holding AG english
tecis with final figures for the first quarter 2002
Ad-hoc-announcement processed and transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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29.05.2002
tecis with final figures for the first quarter 2002
Stable core business- Aiming for around 40 new clients in the field of
corporate pension plans.
Hamburg. In the first quarter of 2002, the tecis group managed to achieve sales
and earnings at the same levels as those of the previous year’s strong first
quarter, despite a difficult market environment: According to the final figures
with commission sales of EUR 16.4m (previous year EUR 16.8m), commission
results of EUR 7.3m (EUR 7.5m) and a gross profit margin of 44% (44%) matched
the previous year’s levels in a quarterly comparison. The pre-tax results for
the Group declined as expected to EUR 0,6m (EUR 1.3m). The previous year’s Q1
pre-tax results contained one-off revenues of EUR 0.3m. In the first three
months, tecis achieved a net inflow of funds of EUR 71m.
The most important subsidiary, tecis Finanzdienstleistungen AG 1), which acts
as a financial planner for private mid-to-high-income households, achieved
commission sales of EUR 13.1m (EUR 13.0m) and commission earnings of EUR 5.6m
(EUR 5.7m). The stable development in sales was based on a broadly spread
investment product portfolio focused on long-term asset growth, and
increasingly on products offering cover for existential risks. The number of
representative offices grew to 148 (109). In a parallel development to that of
the number of offices, the number of IFAs rose during the first quarter to 1612
(1209). In the first quarter alone over 8000 new clients were acquired. At the
end of March, tecis Finanzdienstleistungen AG looked after the interests of
around 211,000 clients (31.03.2001: 178,000).
In view of the ongoing weak environment, the first trends in the second quarter
of 2002 still do not point to a significant acceleration in growth. Buoyed by
the cyclical recovery which is starting to make its presence felt, the second
half of the year and in particular the fourth quarter should see a return to
the usual double-digit growth. This growth should be supported by the approach
of the cut-off date for subsidies under the first stage of the ‘Riester’
pensions at the end of 2002. Above all, if the new German government undertakes
the necessary reforms swiftly, growth in new client acquisition following the
great need for qualified advice should be guaranteed. Additionally, tecis is
utilizing the lasting medium and long-term potential for growth in the market
of corporate pension plans. The Executive Board expects around 40 new clients
in this high-volume new field of business in the next twelve months.
1) incl. GLOBAL AG
For further information please contact
Hartmut Wenzel: +49 40 696951-585 (Investor Relations)
or Leander L. Hollweg: +49 40 696951-287
end of ad-hoc-announcement (c)DGAP 29.05.2002
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WKN: 621160; ISIN: DE0006211600; Index: MDAX
Listed: Amtlicher Handel in Frankfurt und Hamburg; Freiverkehr in Berlin,
Bremen, Düsseldorf, München und Stuttgart
290715 Mai 02
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