DGAP-News: Intershop's 2012 net revenues up 5% to EUR 51.8 million
(firmenpresse) - DGAP-News: Intershop Communications AG / Key word(s): Final Results
Intershop's 2012 net revenues up 5% to EUR 51.8 million
20.02.2013 / 07:58
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- Revenues exceed EUR 50 million for the first time since 2001
- EBIT of EUR -0.6 million due to one-time expenses
- Operating cash flow again positive at EUR 2 million
Jena, 20 February 2013 - Based on preliminary figures, Intershop
Communications AG (ISIN: DE000A0EPUH1), a provider of integrated e-commerce
solutions, generated net revenues of EUR 51.8 million in the fiscal year
2012 (2011: EUR 49.2 million). As expected, this represents an increase of
5% on the previous year. Net revenues in the fourth quarter amounted to EUR
13.1 million (2011: EUR 13.6 million). The increase in full-year revenues
is attributable to the positive business trend with major strategic
customers as well as to new customers and projects won in the e-commerce
and online marketing segment. The company's earnings before interest and
taxes (EBIT) amounted to EUR -0.6 million, which includes one-time
expenses, especially for the realignment of the sales organisation, in the
amount of EUR 1.4 million. Net of these one-time effects, EBIT stood at EUR
0.8 million.
Ludwig Lutter / CFO: 'Intershop confirmed its growth ambitions in 2012
despite the fact that the achieved growth was at the lower end of the
expectations we had half a year ago. In order to continue our growth path
in an increasingly competitive environment, we are realigning our sales
organisation. These challenges have slowed our growth in 2012 and are
temporarily affecting our earnings negatively. However, we are confident
that these measures will pay off through faster growth and better margins
mid-term.'
In 2012, the biggest contribution to revenues was again made by the
Consulting segment, with sales amounting to EUR 28.3 million and accounted
for about 55% of total net revenues. This represented a 5% increase on the
previous year. The Licenses segment generated EUR 5.3 million (2011: EUR
5.5 million). In the current fiscal year, the extended partner network is
to provide fresh stimulation for this segment. The Full-Service segment
continues to gain importance; its revenues are included in Other revenues,
which increased by 47% to EUR 5.1 million. The Online Marketing segment
also reported a favorable 24% increase in revenues to EUR 4.3 million.
Maintenance revenues declined from EUR 9.9 million in the previous year to
EUR 8.8 million due to changed conditions agreed with two key accounts.
Net of these effects, the maintenance business showed a positive trend,
with revenues up by 8%.
At EUR 17.4 million, gross profit was down by 13% on the previous year. The
decline is attributable to lower licensing income, higher depreciation and
low-margin consulting revenues. Earnings before interest, taxes,
depreciation and amortisation (EBITDA) dropped from EUR 4.5 million to EUR
1.8 million, which represents a margin of 3%. EBIT and the net result
amounted to EUR -0.6 million each (2011: EBIT of EUR 2.6 million; net
profit of EUR 3.0 million). Earnings per share declined from EUR 0.10 to
EUR -0.02 (diluted and basic).
Besides the lower gross margin, the decline in earnings is due to one-time
expenses, as for the realignment of the sales organisation, in the amount
of EUR 1.4 million. As far as operating expenses are concerned, the reduced
research and development expenses offset most of the increased
administrative, marketing and selling expenses.
At EUR 2.0 million, operating cash flow was again positive in 2012. The
headcount increased by 60 to 530 in the fiscal year.
Intershop's preliminary consolidated financial statements for the period
ended 31 December 2012 show a solid net worth position. The equity ratio
climbed from 69% to 71%, which clearly exceeds the average equity ratio of
Germany's small and medium-sized enterprises. The company still has no
financial liabilities. Liquid funds declined by 15% to EUR 14.3 million as
of the end of 2012.
Expansion of the international partner network
Besides the existing cooperations, Intershop was able to win additional
renowned partners in 2012. These include Javelin Group, Chapter Media,
Mirabeau and Sigma. The expansion of the international partner network will
play a key role in Intershop's future sales strategy.
CEO Jochen Moll: 'Strong partnerships are an important competitive
advantage in the market for e-commerce solutions, which is characterised by
increasingly shorter development cycles. In our opinion, the pooling of
expertise and selling power represents an important step that will allow us
to market our technology platform more swiftly, especially outside Europe,
and to implement product innovations even faster.'
The full consolidated financial statements will be published at the end of
March 2013. All figures in this press release are provisional and subject
to the final audit.
Contact:
Investor Relations
Heide Rausch
T: +49-3641-50-1000
F: +49-3641-50-1001
ir(at)intershop.com
End of Corporate News
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20.02.2013 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: Intershop Communications AG
Intershop Tower
07740 Jena
Germany
Phone: +49 (0)3641-50-0
Fax: +49 (0)3641-50-1002
E-mail: ir(at)intershop.de
Internet: www.intershop.de
ISIN: DE000A0EPUH1, DE000A0C4ZE3
WKN: A0EPUH, A0C4ZE
Indices: CDAX, PRIMEALL, TECHALLSHARE
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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