Substantial increase in revenues and solid earnings for the period
Integralis consultants boasting a strong competitive position / Total contract volumes in excess of € 100 million for the first time
All segments recorded a substantial rise in revenues in the period under review. At over 14 percent, the growth in the consulting, integration and training segments was particularly pronounced, thus reflecting the high esteem in which Integralis consultants are held in the relevant market segment. Managed Security Services (MSS) also achieved doubledigit growth in revenues.
Regionally, the UK achieved the greatest percentage increase of over 35 percent, with revenues rising to € 19.9 million (previous year € 14.7 million). Business in the GAS region (Germany, Austria and Switzerland) was initially slow, causing revenues to contract to € 10.8 million in the first quarter (previous year € 12.4 million). However, March saw a substantial recovery. Buoyed by currencytranslation effects in the wake of the appreciation of the dollar against the euro, US revenues grew by a similar rate as in the UK, rising to € 9.9 million (previous year € 7.7 million).
At 32.6%, the gross margin was down on the yearago quarter (33.9%). However, the trend towards a narrower margin, which had emerged in the second half of last year in the wake of mounting price pressure, failed to continue.
Whereas the cost of materials rose more quickly than revenues to € 30.7 million (previous year € 27.7 million), personnel costs were somewhat flatter, climbing by 7.3 percent to € 10.3 million (previous year € 9.6 million). Gross profit came to € 14.9 million (previous year € 14.2 million). Net of other operating expenses, which were cut to € 4.3 million (previous year € 4.6 million), Integralis achieved EBITDA of € 0.4 million (previous year € 0.2 million) but sustained a minor loss at the EBIT level of € 0.2 million (previous year loss of € 0.3 million).
Allowing for deferred income tax assets of € 0.9 million (previous year € 0.4 million) posttax profit rose substantially to € 0.6 million (previous year € 0.0 million).
At € 21.4 million (previous year € 19.7 million), the Group's order books were well up on the previous year.
Total contract volumes, an important indicator of future and recurring revenues, reached a new record of € 105.8 million (previous year € 95.5 million), thus exceeding the magic € 100 million mark for the first time.
Looking forward over the next few quarters, it should be possible to harness cost advantages from the adjustments which have been implemented in Sweden and France. Accordingly, management remains confident of achieving the forecast revenue growth of around 10 percent in tandem with EBITDA of over € 5 million for 2010 as a whole.
"In addition to our own services, the revenues generated by Integralis consultants were also well up on the market average," says CEO Georg Magg. "On the strength of total contract volumes, which have exceeded € 100 million, Integralis has a good basis for further business throughout the rest of 2010."
NTT Security (Germany) GmbH
solutions for protecting their critical business processes. Incorporating leading technologies, skills, experience and strategic partnerships, the Integralis product portfolio is targeted at planning, implementing and operating enterprisewide information security architectures. With its structured methodical and technical consulting and implementing services, the Integralis consulting team supports customers' IT security projects. Integralis offers its customers multilingual support in the ongoing operation of their security systems all around the world on a 7/24 basis. The range of services comprises a telephone hotline, remote monitoring and administration as well as onsite support. With a global network of branches, Integralis serves a large number of bluechip companies, government authorities and many national and international enterprises. Integralis AG is listed in Deutsche Börse AG's Prime Standard. With over 500 employees, it generated revenues of EUR 173.7 million in 2009. In early October 2009, NTT Communications Corporation (NTT Com), a subsidiary of Nippon Telegraph and Telephone Corporation (NTT), indirectly acquired more than 75 percent of Integralis' capital. Further information on Integralis is available on the Internet at www.integralis.com.