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Plaut AG

Plaut announces six months figures
Improved operating performanc and stronger order backlog

Munich/Salzburg (ots)

Plaut AG (Securities Code Number 918 703)
announces today its six months figures for fiscal 2001. In the first
half of 2001, Plaut generated revenues of EUR 150.6 million, an
increase of 13.9% compared with the same period last year (EUR 132.2
million). In the second quarter alone, the company generated revenues
of EUR 75.5 million, consistent with analysts' expectations. This
figure corresponds to a rise of 9.3% over the second quarter of the
previous year (EUR 69.0 million).
With orders in hand steadily rising, the company's current backlog
has grown to approx. 90,000 consulting days, which corresponds to a
volume of more than five months. Furthermore, we estimate our
weighted pipeline of future business to be over 200,000 consulting
days.
Earnings before interest, tax and amortisation (EBITA, before
restructuring charges) in the second quarter improved to EUR 1.9
million, after a loss in Q1 of EUR -0.2 million. EBITA was therefore
EUR 1.7 million in the first six months of 2001, compared to EUR 6.2
million in the same period last year. The group loss after tax and
restructuring charges (see below) for the first half was EUR -5.6
million, or a loss of EUR -0.28 per share, compared to a profit of
EUR 3.8 million, or EUR 0.19 per share, in the same period last year.
In Q2, the net loss was EUR -2.3 million or 0.11 per share, compared
to a profit of EUR 2.8 million, or EUR 0.14 in the second quarter of
2000. On an EBITDA level, Plaut generated EUR 4.0 million in Q2 (EUR
5.7 million in the first half), compared to EUR 7.0 (EUR 10.2
million, respectively) during the same period of last year.
Plaut continued a number of initiatives started in the first
quarter in order to improve the operating performance of the company.
These included cost reduction measures such as headcount decreases,
office closures, and reduction or freezing of non-personnel expenses
as well as productivity improvements through a significant increase
in the group average utilisation rate of consultants. The cost
reduction programme led to restructuring charges in the second
quarter of EUR 2.2 million, of which EUR 1.2 million occurred in the
Americas and the balance in Europe. As immediate effects of these
programmes, profitability in Plaut's previously loss-generating
operations in the UK and Brazil has been restored already within Q2.
After a return to operating profitability on group level in the
second quarter, Plaut is confident that the measures taken in the
last months will further improve its operating margins during the
second half of the year.
Cash flow from continuing operations increased to EUR 7.6 million
in the second quarter compared to EUR -5.2 million in Q1. This
equates to a cash flow of EUR 2.4 million for the first half of 2001,
which represents also an improvement over the same period of last
year with its cash outflow of EUR -7.4 million. This positive
development is mainly due to an improved management of the current
receivables and, compared to the first quarter 2001, an enhanced
profitability of the company. Due to the measures taken, Plaut
expects a further reduction of its receivables in the second half of
the year.
Based on the strong backlog in the consulting business and the
measures that were implemented to improve profitability, Plaut
expects to meet analysts' projections for the full year 2001 - even
if overall economic conditions remain challenging.
As of 30 June 2001, Plaut has 1,857 employees, 46 more than a year
ago. Compared to 2004 employees on 31 December 2000, this represents
a decrease of 7%.
About Plaut AG
   Plaut AG is an independent, internationally operating management
consulting group with a global presence of 34 subsidiaries in 18
countries. As a full solution provider offering a suite of services
from strategy consulting to IT-outsourcing, and with sales revenues
amounting to EUR 291 million (in 2000), it is one of the leading
management consulting companies worldwide. Since November 9, 1999,
Plaut AG is listed on the "Neuer Market" of the Frankfurt stock
exchange (PUTG.F; Securities Code Number 918 703).
You can receive the complete half-year report and further
information about the Plaut-group under www.plaut.de/ir or at:
Plaut Aktiengesellschaft
   At a Glance
PLAUT: A HALF-YEAR COMPARISON AS OF JUNE 30
June 30, 2001       June 30, 2000
                               in EUR '000          in EUR '00
   Income Data
   Revenues                        150,579             132,201
   Growth in revenues 
   in % compared to previous year       14                  12
Financial data
   Investments                       4,209              23,313
   Depreciation and amortization     4,026               4,000
Result data
   EBITA                             1,667               6,247
   EBIT                               - 68               5,222
   Group loss after tax 
   and restructuring charges        - 5,626              3,789
   Cash flow from operating 
   activities                         2,377            - 7,383
Balance sheet data
   Sharholders' equity               64,927             61,045
   Capital ratioin %                   29.8               34.9
   Total assets                     217,636            174.839
Earning/loss per sharein Euro     - 0.28               0.19
Employees Half-year-end            1,857              1,811

Contact:

Beratungsgruppe Plaut
Sven Kielgas
Moserstrasse 33A
A-5020 Salzburg
Tel. +49 (0)89 96280-204
Fax +49 (0)89 96280-282
sven.kielgas@plaut.de

Kirchhoff Consult AG
Frank Schwarz
Savignystraße 18
D-60325 Frankfurt
Tel: +49 (0)69 7474 86 0
Fax: +49 (0)69 7474 86 20
Frank.Schwarz@kirchhoff.de

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