26 October 2009

Q3 2009

Teleplan delivers solid first nine months 2009 and a positive outlook for the fourth quarter 2009.

• EBITDA growth of 35%, EBIT growth of 40% and net income growth of 85%
• Strong cash generation leads to early repayment of bank loans of approx. 11.7 million  Euro, reducing net debt to 21.4 million Euro

Zoetermeer, The Netherlands, 26 October 2009. Teleplan International N.V. (Prime Standard, ISIN: NL0000229458), the leading global provider of high-tech after-sales service for the Computer, Consumer Electronics and Communication Industry announced today its third quarter and the first nine months results 2009. The third quarter 2009 showed an even stronger performance on all earning levels compared to an already solid first half 2009.

Teleplan’s revenues amounted to 215.8 million Euro in the first nine months 2009 (previous year: 227.4 million Euro) representing a decrease of 5.1 %. Taking into account the impact of exchange rates, in particular the strengthened US-Dollar to Euro, Teleplan’s total revenue decrease would have been 8.5%. Revenues in the third quarter 2009 amounted to 70.9 million Euro.

At the same time EBITDA increased by 35% to 24.6 million Euro, EBIT by 40% to 20.9 million Euro and net income by 85% to 11.5 million Euro. Consequently earnings per share increased to 0.19 Euro (previous year: 0.10 Euro). “Our primary focus has been on establishing financial stability for 2009. Our financial results demonstrate these efforts rather impressively with very strong growth rates on all earning levels”, commented Gotthard Haug, CEO of Teleplan International N.V.

Gross margin for the first nine months was 60.3% showing an improvement of more than one percentage point to the corresponding period last year. Personnel costs for the first nine months 2009 were 8.3% lower than last year reflecting a headcount reduction of 559 people compared with the same period last year. Personnel costs represented 36.3% of revenue. Other operating costs decreased by EUR 3.4 million Euro reflecting strict cost control on discretionary cost items.

Net cash flow from operations amounted to 25.2 million Euro in the first nine months of 2009, up from 8.6 million Euro one year earlier. This was due to a strict working capital management and tight management of collecting receivables. Continuously strong cash generation in the third quarter 2009 led to another early repayment of bank loans of 11.7 million Euro, which together with the mandatory repayment of the bank loans of 1.1 million Euro reduced net debt further to 21.4 million Euro.

“Based on the overall economic development we are looking with greater confidence to the future of our market segment. We expect the earnings performance in the fourth quarter 2009 to be in line with the first nine months 2009”, commented Gotthard Haug the outlook for the remainder of the year 2009.

At a glance: Teleplan’s key figures (IFRS)

Download the complete Press Release Q3 2009