Annual financial statement 2019

Erschienen am 5/15/2020 | 4 Minuten zu lesen

SEVEN PRINCIPLES has published its 2019 Annual Statement

  • Group turnover in 2019 at EUR 90.5 million.
  • Net loss of EUR -3.4 million at the level of the earnings reported for the first half of the year to 30 June, turnaround achieved in the second half of the year with EBIT of EUR 1.1 million after EUR -4.5 million in the first half.
  • For 2020, as part of the consolidation strategy initiated in 2019, further focusing of the business is expected, accompanied by declining revenue and a simultaneous improvement in the operating result.

 

Cologne, 12 May, 2020. SEVEN PRINCIPLES AG (7P), a German IT consulting and service company with a focus on the digitalisation of business models, achieved a turnaround in the 2019 financial year of EUR 90.5 million. Compared to the 2018 financial year, this meant a decline in turnover of 10.9% (2018 EUR 101.6 million. At EUR -3.4 million, as announced in June last year, 7P recorded a net loss in 2019 (2018: net profit of EUR 22 thousand). At EUR -3.4 million, the net loss for the year was on a par with the group earnings achieved by 30 June 2019.

The main reasons for the decline in turnover compared to 2018 were unexpected fluctuations in customer demand and the consolidation strategy introduced in the middle of the year.
7P had begun from Q2 2019 onwards to examine and introduce measures to sustainably strengthen the company’s earning power. Optimisation activities include measures to improve capacity utilisation, reduce costs and streamline the portfolio. The first successes from these measures were already seen in the second half of 2019, allowing a positive EBIT of EUR 1.1 million to be achieved again in the second half of the year (first half: EUR -4.5 million).

Dr Michael Pesch, CEO of SEVEN PRINCIPLES: “2019 was a difficult and not very gratifying year for SEVEN PRINCIPLES and our shareholders. The unexpected fall in demand is reflected clearly in our figures. We are convinced, nonetheless, that we have identified the correct steps to take to generate profitable business with attractive growth prospects in the future. These steps include the planned spin-off of our three business divisions into three separate subsidiaries, which we announced at the start of April. This should enable the three business divisions to be managed more flexibly and entrepreneurially in the future. This stronger entrepreneurial focus is intended to facilitate more direct market- and competition-driven management of the business divisions. We will still need some time to complete all optimisation measures. Nevertheless, we are confident that we will achieve further milestones on the way to a better operating performance, and in the current year 2020 as well. The first successes from the 2nd half of 2019 give us confidence and a tailwind to carry us onwards on our chosen course.”
For 2020, SEVEN PRINCIPLES plans to successfully continue the consolidation strategy adopted in 2019 and expects a further reduction in revenue but better operating results.

The 2019 annual financial statements are available for download in the Financial Reports section.

 

 

 

About SEVEN PRINCIPLES AG

Enabling Your Digital Business: For SEVEN PRINCIPLES AG, headquartered in Cologne, this means standing by your side and realising your digital business models. Our three subsidiaries, Seven Principles Solutions & Consulting GmbH, Seven Principles Mobility GmbH and intomarkets GmbH have made it their mission to make your business more sustainable and digital. We help you through your digital transformation. With around 400 colleagues working at several locations in Germany and throughout Europe, we provide innovative IT solutions.

 

Press contact:

SEVEN PRINCIPLES AG
Helgrid Jenne
Telephone: 0221-92007-0
ir@7p-group.com

 

 

Disclaimer

Important note: This announcement constitutes neither an offer to sell nor a solicitation of an offer to buy or to subscribe for securities. This communication does not constitute a securities prospectus. This communication and the information contained in it are not for distribution, directly or indirectly, within or into the United States of America, Canada, Australia or Japan.

 

 

 

Helgrid Jenne
Helgrid Jenne

Pressekontakt


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