tecis Holding AG
Tecis Holding AG english
tecis expecting further double-digit growth in 2003 and 2004
Ad-hoc-announcement processed and transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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tecis expecting further double-digit growth in 2003 and 2004
Significant growth surge expected from 2nd half of 2002 onward –
Increasing privatization in retirement and healthcare provision opening up new
opportunities
Hamburg April 18, 2002. The tecis group is expecting further high double-digit
annual growth in sales and profits in the coming years 2003 and 2004 with
significantly improved cyclical and market conditions. Sales are expected to
rise annually by between 20% and 25% , and results to rise disproportionately
highly by between 25% and 30%, the company affirmed. The main fundamental
catalysts for this growth are, in addition to individual retirement pension
provision, the twin factors of the looming privatization of healthcare cover,
and corporate pensions plans. Additionally, tecis will start to see the massive
effects of economies of scale on its profitability from 2004 onward.
At the same time tecis published its final business figures for 2001:
Commission sales rose to EUR67.1m (EUR60.9m), commission earnings increased even
more clearly to EUR30.4m (EUR24.9m). With annual net profits of EUR5.3m
(EUR4.0m) tecis ended up a little over the preliminary figures. The Supervisory
Board gave its approval to a raise in the dividend to EUR0.28 (EUR0.21) per
share proposed by the Board of Directors. A particularly impressive feature was
the continued strong growth of the most important subsidiary, tecis
Finanzdienstleistungen AG, which operates as a financial planner for medium-to-
high-income private households. In the core business of the group, it posted
growth in commission sales of 27% to EUR53.7m (EUR42.3m) and in commission
earnings of 32% to EUR24.5m (EUR18.5m) despite difficult cyclical and financial
conditions.
After a modest second quarter the tecis group should see a noticeable surge in
growth in the second half of the year as the expected upturn in the situation on
stock markets kicks in and as business activity increases particularly before
the eligibility period for “Riester pension” subsidies closes at the end of
2002. Thus annual group sales of between EUR85m and EUR90m (+27% to +34%) and
annual group net profits of between EUR5.6m and EUR6.3m (+6% to +19%) will be
achieved in the 2002 financial year.
The 2001 Company Annual Report is available in PDF format on the website
http://www.tecis.com. Following today’s press conference on the financial
statements in Hamburg (Dorint Hotel, Alter Wall) at 9am, the DVFA analysts’
conference takes place in Frankfurt beginning at 4pm (in the DVFA building).
Further questions should be addressed to
Frank Dieckmann Leander Hollweg Dr. Jürgen Gaulke;
Mail : f_dieckmann@tecis.de Mail: l_hollweg@tecis.de Mail: GaulkeJ@aol.com
Tel. : 040 / 69 69 51-422 Tel.: 040/69 69 51-287 Tel.: 0177/679 30 60
Fax : 040 / 69 58 727 Fax: 040/69 69 51-288 Fax: 040/3603 036 592
end of ad-hoc-announcement (c)DGAP 18.04.2002
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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
180828 Apr 02
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