The Neckarsulm-based IT provider TDS Informationstechnologie AG (ISIN DE0005085609) posted record revenue and earnings in fiscal 2008/2009 (1 April 2008 to 31 March 2009). Earnings before interest and taxes (EBIT) rose by 19.0 per cent in comparison to the same period last year (1 April 2007 to 31 March 2008), to €12,032 thousand. EBIT margin was 9.1 per cent, compared to 9.0 per cent for the same period last year. Consolidated net income totalled €12,200 thousand (€4,231 thousand in the same period last year). This increase was mainly due to lower operating expenses and positive one-time tax effects: A Baden-Württemberg court ruled that disputed losses carried forward in 2001 of €19,553 thousand are to be recognised.
Consolidated revenue grew by 17.3 per cent to €131,930 thousand (€112,431 thousand in the same period last year). This growth was reflected in the number of employees: TDS created 131 new jobs, with a headcount of 1,117 on 31 March 2009 (986 on 31 March 2008).
To enable better comparison, figures for fiscal 2008/2009 have been compared to (unaudited) figures for the period 1 April 2007 to 31 March 2008. At the 2007 annual shareholders meeting, shareholders resolved to change the fiscal year. The TDS fiscal year that has just concluded was the first to run from 1 April to 31 March. A short fiscal year was necessary for the period January to March 2008.
“We are very satisfied with the positive business development,” says Dr. Heiner Diefenbach, Chairman of the TDS Executive Board. “We clearly exceeded our revenue forecast of around €115 million. In addition, we surpassed our targets for EBIT margin and consolidated income.”
“We experienced strong demand for our services over the past fiscal year: Order intake came to some €140 million, with order backlog of around €200 million.”
Stable financial structure
At 31 March 2009, total assets were up by 11.5 per cent to €102,671 thousand (€92,120 thousand at 31 March 2008). Equity-to-total-assets ratio rose from 40.0 per cent (31 March 2008) to 47.9 per cent (31 March 2009). Cash flows from operating activities climbed to €12,878 thousand, from €11,841 thousand at 31 March 2008.
Construction of a new data centre
TDS is investing over €10 million in the construction of a new data centre in Neuenstadt am Kocher, near Neckarsulm. “Our existing infrastructure will soon reach maximum capacity – so a new data centre is essential,” explains Konrad Meier, member of the TDS Executive Board. Work on the new 3,700-metre-squared building began in May 2009. IT systems are scheduled to go live in the first quarter of 2010.
Overall, the TDS Executive Board assumes that business will continue to develop positively despite the current economic turbulence. The company expects revenue of around €130 million for fiscal 2009/2010. Target EBIT margin is 8 to 9 per cent.
The TDS annual report is scheduled for publication on 25 June 2009.
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