Nr. 01/2010 PRESS RELEASE
In spite of the economic downturn Teneo Solutions GmbH turns a profit in 2009 Martinsried, March 29, 2010 â€“ Teneoâ€™s strategy proves successful in times of crisis. In spite of tough market conditions, Teneo Solutions GmbH succeeded in generating a positive result in 2009. In 2009, business partners faced looming insolvency, the consulting market saw competitors in the midst of relentless price wars, and clients increasingly demanded more competitive pricing! 2009â€™s positive operating result cannot solely be ascribed to our strategy - it is largely founded in our healthy financial and equity situation and associated policies, as well as prompt and proactive action. In 2009, we initiated initial measures to safeguard the company's capital basis and performance with foresight. 2009 was a year in which we experienced a decline in sales by 27.85% and a reduction in EBIT of approx. 83% as compared to 2008. In spite of our best efforts, the financial and economic crisis left its mark on our company. Consequently, we ceased all marketing and sales activities in July 2009 to realign the organization to meet the changed market conditions. These measures have placed us in a position to weather the coming three years unencumbered and with sufficient liquidity, such that we are able to comfortably face the upcoming period of economic uncertainty. At the same time we are putting measures in place to ensure that Teneo Solutions GmbH is able to make forward-looking investments in innovative developments, marketing, and sales. Clients, business partners, employees, and shareholders will profit from these measures and investments.