Integralis AG: Continued sharp increase in revenues and dynamic growth in consulting businessIsmaning, 15 November 2010 - Prime Standard-listed Integralis AG, the leading international IT security solutions provider, has reported a sustained sharp increase in revenues as of the end of the third quarter.
With revenues up 12.1 percent, Integralis has seamlessly continued on its upward trend in the year to date.
Consulting, integration and training business was particularly dynamic with a 26 percent increase in revenues.
Revenues by solution Jan. - Sep. Jan. - Sep. Change segment 2010 2009 % TEUR TEUR Technology Sales 65,536 57,334 14.3 Support Services 47,822 42,989 11.2 Consulting, Integration and 17,126 13,595 26.0 Training Managed Security Services 8,855 10,409 -14.9 Consolidated revenues 139,339 124,327 12.1
Regionally, the UK was able to further extend its lead with an increase of over 20 percent in revenues to EUR 57.6 million (previous year EUR 47.7 million). It was followed by Germany/Austria/Switzerland (GAS) with revenues of EUR 35.6 million (previous year EUR 31.8 million) ahead of the United States, which achieved a 29 percent increase in revenues to EUR 32.7 million (previous year EUR 25.3 million). At EUR 44.8 million (previous year EUR 41.9 million), gross profit was up on the previous year; however, the gross margin contracted to 32.2 percent (previous year 33.7 percent) due to the relatively high proportion of technology sales. On the other hand, the personnel costs of EUR 30.2 million (previous year EUR 29.5 million) did not increase as swiftly as revenues. Thanks to the substantially lower operating expenses of EUR 12.0 million (previous year EUR 15.3 million), EBITDA climbed to EUR 3.4 million, reversing the previous year's loss at the EBITDA level of EUR 2.2 million).
After amortisation/depreciation expense, which rose slightly to EUR 1.8 million (previous year EUR 1.7 million), EBIT came to EUR 1.7 million (previous year loss at the EBIT level of EUR 3.9 million). Earnings before tax came to only EUR 0.2 million (previous year loss before tax of EUR 3.9 million) primarily due to non-recurring expenses of EUR 1.3 million in connection with discontinuing business. However, a post-tax profit of EUR 0.8 million was recorded (previous year post-tax loss of EUR 7.1 million) due to the mandatory recognition of deferred income tax assets of EUR 0.6 million in accordance with IFRS.
In the previous year, non-recurring costs of EUR 5.9 million and the remeasurement of capitalised unused tax losses in accordance with German tax law following the acquisition of a share of more than 50 percent of the Company's capital by NTT Com had exerted considerable pressure on the bottom line.
Jan. - Jan. - Change Sep.2010 Sep.2009 (%) Revenues MEUR 139.3 124.3 12.1 EBITDA MEUR 3.4 -2.2 253.5 EBIT MEUR 1.7 -3.9 142.9 Net profit/loss for period MEUR 0.8 -7.1 111.1 Cash flow from operating MEUR 0.3 -4.0 108.0 activities Earnings per share EUR 0.07 -0.64 110.9
At EUR 22.4 million, the order backlog was well up on the previous year (EUR 19.1 million).
At the same time, Integralis achieved a new all-time high in total contract volumes, which rose sharply to EUR 114.1 million (previous year EUR 103.4 million).
The net cash inflow from operating activities stood at EUR 0.3 million at the end of the third quarter (previous year net cash outflow of EUR 4.0 million).
After a year of transition in 2009, Integralis has now returned to its growth and earnings trajectory. In fact, the performance achieved to date has exceeded forecasts. Accordingly, management assumes that the Company will have no difficulty reaching the full-year forecast for 2010 of 10 percent growth in revenues and EBITDA of over EUR 5 million.
The Management Board is also fundamentally optimistic about 2011 and primarily expects a continuation of the favourable performance achieved this year.
'Integralis has the appropriate answers for all future challenges to IT security. The consistently strong growth of our consulting business shows that we have been able to additionally reinforce our reputation as a problem solver in the market place,' says CEO Georg Magg.
The full interim report on the first nine months of 2010 can be downloaded from http://www.integralis.us/Q310Results.html.
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 173.7 million in 2009. 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.
+49 89 945 73 178
Kontakt: Integralis AG Peter Banholzer (IR) Tel:+49 89 945 73 178 email@example.com
15.11.2010 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
Company: Integralis AG
Phone: +49 (0)89 94573-178
Fax: +49 (0)89 94573-180
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Hamburg, München, Düsseldorf, Berlin, Stuttgart
End of Announcement DGAP News-Service