Nichts besonderes, nur eine Gewinnwarnung, oder wie ist der Text zu verstehen: *aaaaaa*
(Tut mir leid, zum Formatieren bin ich nicht mehr in der Lage :-( )
Quelle: www.sema.com/pr/pr001124.htm
Friday, 24 November 2000
Sema Group
Trading Update
Sema Group today announces a trading update for the year ending 31 December
2000.
Turnover in the second half of the year is expected to show an increase of some
13% (and 17% at constant exchange rates) over the corresponding period in 1999.
Excluding LHS, which will be included for 5 months of the year, underlying turnover
in the second half is expected to be approximately 6% (9% at constant exchange
rates) higher than in 1999. However, profits (before amortisation) in the second half
of the year are expected to be broadly in line with those for the second half of 1999.
These results will clearly be below those anticipated by the market and Sema Group
management. The principal reasons are:
A significant deterioration of LHS’s performance in the third quarter.
The shortfall was partially offset by Sema’s telecom product line, which
is performing well. In particular mobile telecom products are enjoying
strong growth. Operating margins in Products are expected to improve
from 4% in the first half to over 6% in the second half following the
acquisition of LHS and improved margins in Sema’s Telecom products.
A lower than expected performance in Outsourcing where revenues for
the second half are now expected to be some 10% lower than in the
comparable period in 1999. This is due to the postponement of
contracts in continental Europe combined with the selective approach in
the UK to win more profitable contracts. Operating margins are
expected to be in the region of 5.5% for the second half.
Other business areas are producing strong results, in particular those associated with
Sema’s Products in Banking, Energy, Travel and Transport as well as Systems
Integration and WebTech. SG-RS, the Business Continuity division of the Group,
has continued to show exceptional growth and profitability.
The Acquisition and Integration of LHS
The acquisition of LHS was announced on 15 March 2000 but was not completed
until 29 July 2000 for regulatory reasons. The prolonged time lag between
announcement and completion of the deal caused serious business disruption within
LHS and delayed the integration. In the period from 1 January 2000 to 29 July
2000, the turnover and operating profits were £83 million and £2.3 million
respectively. LHS’s quarterly turnover amounted to £42m and £36m in the first and
second quarters respectively and reached a low of £24m in the third quarter with
sales in July of only £5.8 million. The dynamism and the determination with which the
integration plan was implemented has improved performance: As a result, LHS is
expected to achieve turnover in the fourth quarter of over £35m, including synergies.
Outlook for 2001
The Board expects like for like revenue growth in 2001 of approximately 12% as the
Group continues to focus on the faster growing segments of the IT market. The
acquisition of LHS represented a major strategic development for Sema. Although its
integration has impacted the short term profits, now that it is complete the Group is
starting to achieve its anticipated benefits and the Board views the outlook with
renewed confidence.
In 2001, Systems Integration is expected to show underlying growth in turnover of
12%. Outsourcing is expected to achieve turnover in line with the current year,
following the expiry of two major contracts in the UK. It is anticipated that Products
will perform strongly next year.
Contacts:
Marie-Claude Bessis
Director of Corporate Communications, Sema Group
Mobile: +33 (0)684 952 621
Tel: +44 (0)207 830 4204
Nicolas von Stackelberg
Investor Relations, Sema Group
Mobile: +49 (0)172 954 0214
Tel: +44 (0)207 830 4215
Bobby Leach
Shandwick International
Tel: +44 (0)207 905 2537