3U HOLDING AG publishes half-year report 2011
(PresseBox) - .
- LambdaNet sale leads to jump in earnings
- Equity ratio at about 85%
- Adjusted forecast: Higher earnings target but less sales in 2011
Group sales at EUR 47.50 million increased markedly in the first half of 2011 in comparison to the corresponding period of the previous year (EUR 41.93 million). Especially the segment Renewable Energies was more than able to compensate the losses of sales in the segments Broadband/IP and Telephony.
The result of the second quarter was determined primarily by the sale of LambdaNet on May 31, 2011. EBITDA has improved significantly, especially due to the special effect of the sale of LambdaNet in the first six months of this year and was EUR 31.65 million (previous year: EUR 5.5 million). The result in the first half of 2011 amounted to EUR 28.66 million and were - not considering the one time effect of the LambdaNet sales of EUR 26.94 million - roughly at the level of the first six months of fiscal year 2010 (EUR 1.93 million).
3U HOLDING AG improved it's already very solid equity ratio after the sale of LambdaNet by 30 percentage points to almost 85% as at June 30, 2011. This represents an increase of the equity ratio of 52.5%.
As at June 30, 2011 cash and cash equivalents rose from EUR 23.06 million (March 31, 2011) to EUR 33.72 million mainly due to the received sales price from the LambdaNet sale. Inventories and accounts receivables which rose to EUR 25.41 million as at June 30, 2011 (12/31/2010: EUR 12.53 million) caused predominantly by the segment Renewable Energies, will be significantly reduced in the second half of 2011.
Because of the higher-than-planned earnings in the segment Telephony and the highly volatile prices of modules in the photovoltaic market, which suggests a temporary restraint in this market the Management Board of 3U HOLDING AG adjusts its forecast for the current year: The Management Board expects sales of about EUR 70 to 80 million (hitherto: EUR 85 to 95 million), EBITDA of EUR 32 to 35 million (hitherto: EUR 5 to 7 million) and earnings of about EUR 27 to 29 million (hitherto: EUR 26 to 28 million) from continued and discontinued activities in fiscal year 2011.
The half-year report 2011 can be downloaded from the website of 3U HOLDING AG at: www.3u.net
Datum: 15.08.2011 - 10:09 Uhr
Sprache: Deutsch
News-ID 46209
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Marburg
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Financial Services & Insurance
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