DGAP-News: Intershop closes fiscal year 2010 with another record
(firmenpresse) - DGAP-News: Intershop Communications AG / Key word(s): Final Results
Intershop closes fiscal year 2010 with another record
23.02.2011 / 08:53
---------------------------------------------------------------------
Intershop closes fiscal year 2010 with another record
- Revenues rise by 20% to EUR 38.3 million in line with forecast
- EBIT increase by 12% to EUR 2.2 million
- Cash and cash equivalents go up by 160% to EUR 16.4 million
Jena, February 23, 2011 - Today, Intershop Communications AG (ISIN:
DE000A0EPUH1), supplier of integrated e-commerce solutions, announced its
preliminary figures for fiscal year 2010.
The Company increased revenues by 20% to a total of EUR 38.3 million thanks
to a considerable rise in revenues from consulting services to strategic
customers (platinum accounts). It therefore met its 2010 revenues forecast.
Revenues from consulting and training went up by 64% to EUR 19.9 million
and Maintenance and Other Revenues (full service business) increased by 8%
and 55% respectively, all contributing to the revenue growth. Online
Marketing remained steady at EUR 2.6 million, while revenues from licenses
came to EUR 4.2 million, 39% lower than the positive result in the prior
year. Preliminary gross profit increased proportionately to revenues to a
large extent, coming in at EUR 17.9 million with the gross margin therefore
amounting to 47%, the same level as in the prior year. Earnings before
interest, taxes, depreciation and amortization (EBITDA) rose by 35% to EUR
5.1 million, corresponding to an EBITDA margin of 13%. Results from
operating activities (EBIT) increased by 12% to EUR 2.2 million.
Intershop prepares for the future
In fiscal year 2010, operating expenses went up by around 20% year-on-year,
mainly as a result of the Company's investments in innovation. Intershop
recruited 56 new employees in the prior year to prepare its workforce for
future growth. Headcount as of December 31, 2010, came to 356 and the
Company plans to recruit more people in 2011. Investments are reflected in
the rise in research and development expenses. Other reasons for the
increase in expenses were higher write-downs on software development costs
and a rise in legal and consultancy fees incurred in particular in
connection with the three general meetings in the past year. Earnings
before tax went up from EUR 2.1 million to EUR 2.3 million and consolidated
earnings after tax for the period amounted to EUR 1.9 million compared to
EUR 1.7 million in the prior year. Earnings per share (basic and diluted)
were EUR 0.07, almost the same as in the prior year due to the larger
number of shares (2009: EUR 0.07 basic).
Intershop's preliminary consolidated balance sheet as of December 31, 2010,
showed a very strong financial position. The company still had no financial
liabilities and its equity ratio was 68% compared to 64% at the end of
2009. Total assets rose by 26% to EUR 36.2 million compared with December
31, 2009. Cash and cash equivalents went up by 160% from EUR 6.3 million to
EUR 16.4 million at the end of 2010.
Intershop generated positive operating cash flow of EUR 7.4 million in 2010
(prior year: EUR 0.8 million). Including cash flow from financing
activities less investments, net change in cash and cash equivalents went
up by EUR 10.1 million compared to the cash position at the end of 2009.
Further growth expected in 2011
Overall, Intershop achievedits revenues and earnings targets in the prior
year. The strategic partner GSI Commerce has developed into one of
Intershop's largest customers within the space of a few months and the
joint projects in the US are making good progress. Further acquisitions of
new customers and the positive development of the other platinum accounts
also contributed to the positive result. The Management Board expects
further revenue growth and sustainable positive earnings in 2011. A more
detailed forecast will be published during the course of the year.
All figures are of a preliminary nature and have yet to be approved by the
auditor of the financial statements.
Contact:
Investor relations
Stephan Leschke
Phone: +49-3641-50-1371
Fax: +49-3641-50-1309
ir(at)intershop.de
End of Corporate News
---------------------------------------------------------------------
23.02.2011 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
Language: English
Company: Intershop Communications AG
Intershop Tower
07740 Jena
Deutschland
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
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
---------------------------------------------------------------------
113140 23.02.2011
Datum: 23.02.2011 - 08:53 Uhr
Sprache: Deutsch
News-ID 33276
Anzahl Zeichen: 0
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 182 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"DGAP-News: Intershop closes fiscal year 2010 with another record"
steht unter der journalistisch-redaktionellen Verantwortung von
Intershop Communications AG (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
