New employees needed after turnover reaches the Billion mark.
Bielefeld. The float on the stock market has been of benefit to PC Spezialist. Board spokesman Frank Roebers commented “Through the float we have received around 9M Deutsch Marks.
The money is budgeted to be used for the expansion of the headquarters in Bielefeld. The float on the market cost the company around 1M Deutsch Marks according to a statement made by Roeders at the press conference to release the accounts. The conference was made via a telephone conference to include a dozen members of the press.
Company Relations Manager Frank Machwitz didn´t rule out the idea of releasing balance sheets in the future online.
PC Spezialist sells franchise licenses to IT companies and currently has around 500 partners in its IT cooperative. The brand Micro-trend also serves as a purchasing and marketing partner for IT cooperatives.
After paying for the licence, partners pay a commission to the PLC for each item sold. The franchisee´s make an average of 300.000DM turnover in the first year and 400.000 in the second.
The total turnover hit 1.1 Billion DM in 1999 compared to 700 Million in 1998 with profits hitting 2.96 Million Deutsch Marks.
Roebers commented “We have become more profitable then first forecast”. The self owned capital quota of 83% and the level of self finance of 126% is remarkably high. “They provide the basis for future growth”
At present there are no plans for dividends to be paid by the PLC. The share price is currently at €61.50, while the highest price traded at was €73.80, the lowest price was €16.
The 2 founders of the company Thomas Kruse and André Flottmann hold 55.4% and 18.46% of the stocks respectivley.
3 out of 10 households in Germany own 1 PC. 30% of which are connected to the internet accoding to Frank Roebers who said ” That is good for us, as the people with older computers will soon need new ones”
PC Spezialist aims to move with the tide and employ more people to carry their growth. Current employees (26) will soon be supplemented by a further 10. The available workforce however is somewhat depleted of IT specialists and workers with skills in finance and franchise.
“Its almost at the point where we will take anybody that fits the bill” commented Roebers.