April 18, 2012

TELES Group Results 2011: Revenues according to plan at 12 mn Euro, Result still negative but about 60 % improved (EBT)

Stabilization in sales as gross profit rises

Ad-Hoc Shareholder's/Press Release in accordance with § 15 WpHG

Berlin, April 18, 2012.  The key data of TELES’ continuing operations for 2011 (in accordance with IFRS) can be summarized as follows*:

  • Revenues (Erlöse): 12,0 Mio. € (16,0 mn €, -25 %)
  • Gross Profit (Rohertrag): 5,6 Mio. € (1,1 mn €, 399 %)
  • EBITDA:    -6,0 Mio. € (-7,3 mn €)
  • EBIT: -6,4 Mio. € (-14,7 mn €)
  • EBT: -5,9 Mio. € (-14,7 mn €)

(*prior year figures in brackets)

2011 was a turnaround year for TELES – the decline of revenues and the continuous negative result had to be and have been stopped. It was necessary to implement radical measures: a big change in management board, personnel reduction scaling the staff down to about 100 employees – approximately half as many as in mid-2010 – the close-down of foreign affiliates, a re-organization with a more client-oriented basis, linked with the focus on the most lucrative markets.

In the last twelve months, the revenues were stabilized and the monthly costs reduced by about 30 %. In addition, liquidity has been improved by running-down of stocks and above all by enforcement of debt collection.

The complete Annual Report 2011 will be published on April 20, 2012 following auditor’s certificate and approval by supervisory board on www.teles.com.

Prof. Dr.-Ing. Sigram Schindler
TELES AG Informationstechnologien