DGAP-News: Integralis AG: Weak technology sector and US business exerting pressure on revenues and earnings
(firmenpresse) - DGAP-News: Integralis AG / Key word(s): Quarter Results
Integralis AG: Weak technology sector and US business exerting
pressure on revenues and earnings
14.11.2011 / 10:00
---------------------------------------------------------------------
Corporate News
Weak technology sector and US business exerting pressure on revenues and
earnings
- Support services still advancing
Ismaning, 14 November 2011 - Prime Standard-listed Integralis AG, the
leading international IT security solutions provider, sustained a
year-on-year decline of more than 13 percent as of the end of the third
quarter to EUR 121.0 million (previous year EUR 139.3 million).
As in the previous quarters, the decline is chiefly due to Technology
Sales, which with revenues of EUR 47.6 million (previous year EUR 65.5
million) contributed EUR17.9 million to the shortfall of EUR18.3 million.
On the other hand, the steady growth in Support Services emerging in the
course of the year continued. At EUR 50.0 million (previous year EUR 47.8
million), this segment again made the greatest contribution to consolidated
revenues.
The Consulting, Integration and Training segment generated revenues of EUR
15.5 million (previous year EUR 17.1 million) as of the end of the third
quarter.
Managed Security Services contributed EUR 7.8 million (previous year EUR
8.9 million) to consolidated revenues.
Despite the general decline in revenues, recurring income from Support and
Managed Services rose to EUR 57.8 million (previous year EUR 56.7 million),
with its relative share in total revenues widening by over seven percentage
points to almost 48 percent.
At EUR 55.3 million, UK revenues were down slightly (previous year EUR 57.6
million) chiefly as a result of cyclical effects in technology sales in the
first half of the year, whereas revenues stabilised again in the third
quarter. Recessionary tendencies are still in evidence in the United
Kingdom, while there are significant signs of a more pronounced
cost-cutting mentality in the corporate sector. EBITDA contracted to EUR
0.6 million, down from EUR 2.1 million in the previous year.
Revenues in Germany, Austria and Switzerland (GAS) remained very stable at
EUR 35.7 million (previous year EUR 35.6 million), although the momentum
seen in the first half of the year weakened due to the fact that various
customer projects were postponed until the fourth quarter in this region.
Despite a decline to EUR 1.6 million (previous year EUR 1.8 million), this
region made the greatest contribution to consolidated EBITDA.
In the United States, the loss of a major customer in the first quarter is
continuing to exert heavy strain on the top and bottom line as it has not
been possible to find replacement business in the course of the year.
Accordingly, revenues contracted by 39 percent to EUR 19.7 million
(previous year EUR 32.7 million), resulting in a loss of EUR 4.3 million at
the EBITDA level (previous year EBITDA of EUR 0.6 million). As already
explained in the report on the first half of the year, management responded
to the expected deterioration in technology business by implementing a
portfolio adjustment process in 2010.
Reflecting the more favourable revenue structure with a high proportion of
recurring income, gross profit came to EUR 42.0 million and was thus only
slightly down on the previous year (EUR 44.8 million) despite the reduced
top line. The gross margin widened to 34.7 percent (previous year 32.2
percent).
Personnel costs rose to EUR 34.0 million at the end of the third quarter
(previous year EUR 30.5 million), reflecting the increase in headcount to
555 (previous year 509).
Other operating expenses rose to EUR 14.2 million (previous year EUR 12.4
million). A loss of EUR 5.5 million was recorded at the EBITDA level
(previous year EBITDA of EUR 3.1 million). After slightly higher
depreciation/amortisation of EUR 1.9 million (previous year EUR 1.8
million), Integralis sustained a loss of EUR 7.4 million at the EBIT level
(previous year EBIT of EUR 1.3 million). With net finance income/finance
expense almost balanced (previous year net finance expense of EUR 0.1
million), loss before tax came in at the same amount (previous year
earnings before tax of EUR 1.2 million). However, post-tax loss contracted
slightly to EUR 7.3 million (previous year post-tax profit of EUR 1.8
million) due to the recognition of deferred income tax assets of EUR 0.1
million (previous year EUR 0.6 million).
At EUR 23.9 million, the order backlog in the first nine months of the year
was above the figure for the previous year (EUR 22.3 million).
With a greater focus on consulting and the Group's own Managed Security
Services, Integralis has already made substantial advance outlays in
recruiting highly qualified staff. At the same time, a medium-term renewal
and extension programme has been put in place for Managed Security Services
and will involve heavy spending on the next-generation services.
The fourth quarter is traditionally one of the strongest for the Group in
terms of both revenues and earnings, although this effect has weakened
somewhat over the past few years.
The Management Board reaffirms its guidance, which it altered in the report
on the first half of 2011, of a greater than 10-percent decline in revenues
in the current year.
The earnings situation will remain negative in view of the aforementioned
necessary investments. In addition, the annual impairment review planned
for the fourth quarter may also exert further strain on EBIT.
The full interim report on the first nine months of 2011 can be downloaded
from http://www.integralis.com/en/investor-relations/financial-reports/ .
About Integralis
As a leading international provider of IT security solutions, Integralis
offers its customers skilled consulting and bespoke solutions for
protecting their critical business processes. Incorporating leading
technologies, skills, experience and strategic partnerships, the Integralis
product portfolio is targeted at planning, implementing and operating
enterprise-wide information security architectures. With its structured
methodical and technical consulting and implementing services, the
Integralis consulting team supports customers' IT security projects.
Integralis offers its customers multilingual support in the ongoing
operation of their security systems all around the world on a 7/24 basis.
The range of services comprises a telephone hotline, remote monitoring and
administration as well as on-site support. With a global network of
branches, Integralis serves a large number of bluechip companies,
government authorities and many national and international enterprises.
Integralis AG is listed in Deutsche Börse AG's Prime Standard. With over
500 employees, it generated revenues of EUR 188.2 million in 2010. In early
October 2009, NTT Communications Corporation (NTT Com), a subsidiary of
Nippon Telegraph and Telephone Corporation (NTT), indirectly acquired more
than 75 percent of Integralis' capital. Further information on Integralis
is available on the Internet at www.integralis.com.
Contact:
Peter Banholzer
+49 89 945 73 178
ir(at)integralis.com
End of Corporate News
---------------------------------------------------------------------
14.11.2011 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
Language: English
Company: Integralis AG
Robert-Bürkle-Str. 3
85737 Ismaning
Germany
Phone: +49 (0)89 94573-178
Fax: +49 (0)89 94573-180
E-mail: ir(at)integralis.com
Internet: www.integralis.com
ISIN: DE0005155030
WKN: 515503
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
---------------------------------------------------------------------
145997 14.11.2011
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 14.11.2011 - 10:00 Uhr
Sprache: Deutsch
News-ID 87192
Anzahl Zeichen: 1559
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 201 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"DGAP-News: Integralis AG: Weak technology sector and US business exerting pressure on revenues and earnings"
steht unter der journalistisch-redaktionellen Verantwortung von
Integralis AG (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
