tecis Holding AG
Tecis Holding AG part 2
ad-hoc-announcement part 2 of 2
Ad-hoc-announcement processed and transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
——————————————————————————–
ad-hoc-announcement part 2 of 2
With regard to the shareholder structure there have been two minor changes:
AXA has increased its share to more than 10%. Herr Udo Keller sold a block of
200 000 shares in a one-off extra-market action to invest in his foundation
(construction of a trust building) and now holds 8.5%. Herr Keller has assured
the company that he will not be selling any further shares.
Contact Dr. Hartmut Schüning: 040 69 69 51-118 (CFO),
Hartmut Wenzel: 040 69 69 51-585 (Investor Relations) und
Leander L. Hollweg: 040 69 69 51-287 (Public Relations)
end of ad-hoc-announcement (c)DGAP 26.02.2002
Issuer’s information/explanatory remarks concerning this ad-hoc-announcement:
In contrast to tecis Finanzdienstleistungen AG, the other tecis subsidiaries,
which are more dependent on stock market fluctuations, were unable to avoid the
effects of a decline in economic growth and on stock markets.
tecis Maklerservice AG, in particular, recorded a downturn in commissions of
37%. Its services to independent financial brokers work on small margins, yet
have historically always contributed strongly to the overall sales of the group.
tecis has begun to search for a strong partner to get involved in areas of
business where reliability in planning has proved less simple. An alliance with
the Hamburg-based maxpool GmbH has already been established in the field of
insurance brokering, in return for which tecis Maklerservice AG will gain access
to further investment business.
The inflow of funds at tecis Asset Management AG was below plan. The cost-
intensive management of individuals’ assets is also to be solved by entering
into a partnership. Both of the funds of funds issued with MM Warburg & Co Bank
during the second half-year enjoyed success. The tecis Asia Pacific Select UBS
(D) was the year’s winner on performance among all equity fund-based funds of
funds available in Germany.
A major contract, which had been due to contribute EUR0.5m to the 2001 sales
figures, was not concluded by tecis Versicherungsmakler AG.
The two subsidiaries which service all members of the group, tecis Service AG
and tecis eCom AG, are to be merged during the course of 2002 to save costs. The
task of the new company will be a 100% focus of all resources on the support of
the core area of activities, tecis Finanzdienstleistungen AG.
In the areas of corporate and private pensions provision, tecis expects an
increase in demand for advice, particularly in the fourth quarter, at the end of
which the cut-off point for Riester Pensions subsidies is reached. Among other
factors, the lack of clarity over certain arrangements within the Pensions
Reform (‘Riester Pension’) led to hesitancy among customers in 2001. The complex
regulations of the reform, as well as the planned expansion of corporate
pensions schemes, led to extra start-up costs in consulting work and to the
long-term extension of the training program for tecis trainee financial advisers
from is current six to nine months.
The entry into corporate pensions schemes is creating further scope for growth.
In the fourth quarter of 2001 the consultation of around 10,000 employees of a
large company by tecis Finanzdienstleistungen AG, with 5,000 contracts concluded
by mid-December 2001 gives cause for optimism, despite delays. tecis entered the
year 2002 with confidence, buoyed by the experience gained from the two large
contracts with corporate clients, as well as over 40 inquiries from companies
about pension schemes which are currently being evaluated. A particularly
positive feature for both tecis and its clients is that legislation has been
passed allowing, in contrast to initial plans, investment fund-based solutions
to be used in conjunction with the state-subsidized pensions program. The tecis
group, which is excellently positioned in both the growth market of financial
planning and in private and corporate pensions provision, can only profit from
this change which makes the ‘Riester Pension’ not only a door-opener, as was
originally expected, but actually a notable contributor of commissions earnings
from the certified investment fund-based products.
A further new designated sponsor was gained in the JP Morgan investment bank,
which joins the Hamburg-based Berenberg Bank, which has long been actively
involved in the tecis stock.
——————————————————————————–
WKN: 621160; ISIN: DE0006211600; Index: MDAX
Listed: Amtlicher Handel in Frankfurt und Hamburg; Freiverkehr in Berlin,
Bremen, Düsseldorf, München und Stuttgart
260741 Feb 02
Aktuelle News
Aktuelle Berichte
Keine Berichte gefunden
Anstehende Events
Keine Events gefunden
Webcasts
Keine Webcasts gefunden