02 April 2009
Annual Accounts 2008
The Management Board of Teleplan International N.V. is pleased to present their outstanding Annual Accounts 2008 despite challenging economic times.
- Revenue growth 2008 of 8% to EUR 304.4 million
(2007: EUR 281.7 million)
- Teleplan with net profit increase for 2008 of 85% to EUR 6.7 million
(2007: EUR 3.6 million)
- Operating cash flow increase of 83% to EUR 22.7 million
(2007: EUR 12.4 million)
“The past year was not one in lacking challenges, but Teleplan continues to claim its place in the after-sales service industry with impressive revenues of EUR 304.4 million compared to EUR 281.7 million in 2007”, Gotthard Haug, CEO of Teleplan International N.V., underlined the record top line figure which resulted in substantial bottom line growth also.
Operating income (EBIT) for 2008 was EUR 17.1 million, an improvement of EUR 0.3 million versus 2007. Net income as reported increased by approximately 85% to EUR 6.7 million compared with EUR 3.6 million in 2007 and consequently earnings per share (EPS) has increased in 2008 to EUR 0.11 versus EUR 0.06 in 2007.
Cash generated from operations amounted to EUR 22.7 million in 2008, an increase of 83% versus 2007 (EUR 12.4 million). Free cash flow, as net cash from operations after investments, was EUR 11.6 million, six times higher than the EUR 1.9 million the year before. The Group continues to focus on optimization of its borrowing ratio; consequently 2008 net cash was used to repay, on a voluntary basis, EUR 11.8 million of long-term loans. Teleplan lowered its net debt to EUR 43.4 million from EUR 52.3 million the year before. Finally the leverage ratio net debt to EBITDA improved to below 2.0 after 2.4 at the end of 2007.
Total equity increased from EUR 25.3 million in 2007 to EUR 31.8 million in 2008. Equity ratio therefore improved to 21.5% in 2008 versus 16.9% in 2007.
Total equity increased from EUR 25.3 million in 2007 to EUR 31.8 million in 2008. Equity ratio therefore improved to 21.5% in 2008 versus 16.9% in 2007.
In general the outsourcing trend within the after-sales service industry is showing a healthy development. While the first half of 2009 is expected to show positive developments in cash flow and bottom line, the visibility has been reduced significantly in light of the uncertainty over how trends will shape up. “Therefore we are working hard to control what we can in the course of our own business. Productivity improvements and cost reductions will continue to have management’s focus in 2009”, Gotthard Haug described t he tasks for Teleplan’s cautious move into the future.
|
Overview of financial figures (million Euro) |
2006 |
2007 |
2008 |
+/- 2008/07 |
|
Revenue |
242.0 |
281.7 |
304.4 |
+ 8 % |
|
EBITDA |
5.2 |
22.1 |
21.8 |
- 1 % |
|
EBIT |
- 2.3 |
16.8 |
17.1 |
+ 2 % |
|
Net income |
- 8.1 |
3.6 |
6.7 |
+ 85 % |
|
Operating cash flow |
7.3 |
12.4 |
22.7 |
+ 83 % |
|
Cash and cash equivalents |
10.6 |
15.5 |
15.8 |
+ 2 % |
|
Net debt (excl. convertible bonds) |
55.6 |
52.3 |
43.4 |
- 17 % |
|
Earnings per share / EPS (Euro) |
- 0.21 |
0.06 |
0.11 |
+ 83 % |
|
Operating cash flow per share (Euro) |
0.19 |
0.22 |
0.38 |
+ 73 % |
|
Book value per share (Euro) |
0.32 |
0.46 |
0.53 |
+ 15 % |
|
Equity ratio (%) |
8.2 |
16.9 |
21.5 |
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Read the complete Press Release 2008 