Munich/Salzburg, Germany/Austria (ots)
- Revenues increase by 19% to EUR 75 million
- Revenues in the Americas record growth of 76%, but slow-down
- Cost reduction measures taken to meet profitability targets
Plaut AG (SCN 918 703) today publishes its figures for Q1 of
fiscal 2001. Plaut, one of the leading management consulting firms
offering a suite of services from strategy consulting to
IT-outsourcing, increased its sales revenues from EUR 63.2 million to
EUR 75.1 million, a growth of 19%. Gross profit advanced from EUR
19.1 million to EUR 23.7 million, which represents an increase of
24%. Gross margin was 31.6% (2000: 30.3%).
Earnings before interest and taxes (EBIT) amounted, in line with
budget, to EUR -1.0 million. In view of the uncertain economic
environment, especially in the U.S., Plaut has taken certain cost
reduction measures that have negatively impacted Q1 earnings. This is
mainly attributable to a pre-emptive reduction of personnel in the
US, as well as personnel reductions and other cost cutting measures
in the U.K. These measures have resulted in a one-time charge of EUR
1.03 million. The consolidated loss after tax was EUR 3.4 million, as
compared to a consolidated profit of ca. EUR 1 million in the first
three months of the previous year. According to DVFA/SG, this
corresponds to a loss per share of EUR 0.17 (2000: + EUR 0.05).
Despite the economic slowdown in the US, the Americas recorded a
particularly high growth rate, with an increase in revenues of 76%.
With revenues of 39% of the total, the US-business contributes
significantly to consolidated sales. "While we are pleased with our
strong revenue growth in Q1, we are starting to see an impact of the
deteriorating market environment. The restructuring steps we have
taken should help to ensure that we reach our projected margins in Q3
or Q4," CEO Gary DiOrio comments.
The strong performance of the European business is also
encouraging. Germany and France, in particular, stand out as positive
examples. In Germany, profits virtually doubled over the previous
year and Q1 revenues are ahead of plan. In France, profitability also
increased considerably. Dr. Nico Brunner, the board member in charge
of the European Operations, adds, "This is evidence of how our
wide-reaching international presence enables us to deal with adverse
economic conditions in a specific region."
The main sales drivers were BackOffice Solutions which alone
accounted for three quarters of total sales revenues. 13% was
contributed by IT & Hosting Solutions, 5% by Strategy Consulting, 4%
by FrontOffice- and 3% by eBusiness Solutions.
In recent weeks Plaut has secured a number of large contracts,
each encompassing a volume of at least 1,000 man-days. The backlog of
orders has consequently increased to ca. five months.
As per March 31, 2001 our head-count was at 1,985 (quarter
reference date 2000: 1,765). As a result of restructuring measures,
the number of employees and consultants remained virtually constant
compared to the year-end head-count in fiscal 2000. Thanks to the
improved structure and a more optimal utilisation of consultants,
costs of sales have risen more slowly. For the current fiscal year,
the company continues its plan to increase the number of employees,
in particular in those business divisions with rapid expansion.
Plaut AG is an independent, internationally operating consulting
group with currently 34 subsidiaries in 18 countries. As a full
solution provider with a portfolio ranging from strategy consulting
to IT-outsourcing, and with sales revenues of ca. EUR 291 million in
2000, Plaut is one of the worldwide leading management consulting
firms. Since November 9, 1999, Plaut AG, Salzburg, has been listed on
the "Neuer Markt" of Frankfurt Stock Exchange (PUT; SCN 918 703).
ots Original Text Service: Plaut AG
You can obtain a complete version of the first-quarter-report, as
well as any further information relating to Plaut, under
or under the addresses below:
Plaut Aktiengesellschaft Kirchhoff Consult AG
Monika Kretzschmar Frank Schwarz
Moserstrasse 33A Savignystraße 18
A-5020 Salzburg D-60325 Frankfurt
Tel. +43 (0)662 4092-60 Tel: +49 (0)69 7474 86 0
Fax +43 (0)662 4092-15 Fax: +49 (0)69 7474 86 20