EANS-News: SinnerSchrader AG
SinnerSchrader achieves 12 per cent growth in
third quarter of 2008/2009
Full-year earnings forecast slightly adjusted
downwards
Hamburg (euro adhoc) -
Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement.
balance/3rd Quarterly Report
In the third quarter of the 2008/2009 financial year (1 March to 31 May 2009), SinnerSchrader once again gained momentum after a weaker second quarter. Gross revenues grew by 12 per cent compared to the third quarter of 2007/2008 to reach EUR 6.9 million. This growth was not positively influenced by any consolidation effect from the takeover of spot-media AG. Net revenues reached EUR 5.1 million.
Incoming orders increased by almost 15 per cent compared to the previous quarter and were 6 per cent higher than in the same quarter of the previous year.
The positive revenue development caused the operating result (EBITA) to increase by EUR 0.4 million compared to the previous quarter to reach EUR 0.5 million. This was nearly the same level as in the previous year, although SinnerSchrader still carried preparatory costs of around EUR 0.2 million for the establishment of new fields of business in the third quarter of 2008/2009.
One of the milestones in the establishment of these business fields was the foundation in May 2009 of next commerce GmbH, which has already acquired a customer from the fashion industry with its portfolio of e-commerce outsourcing services. With the takeover of newtention technologies GmbH, SinnerSchrader additionally acquired leading ad-serving technology to expand its own performance marketing business.
In the first nine months of the 2008/2009 financial year, SinnerSchrader's gross revenues increased by 18 per cent compared to the same period of the previous year, including positive consolidation effects from the first half- year, to reach EUR 20.8 million (EUR 15.5 million net). Despite accumulated preparatory costs for the establishment of new fields of business amounting to EUR 0.4 million, the EBITA reached EUR 1.2 million. In the previous year, the operating result after the first nine months was nearly EUR 1.4 million.
The accumulated consolidated income for the reporting period came to EUR 0.8 million, or EUR 0.07 per share, compared to EUR 1.2 million, or EUR 0.10 per share in the previous year. A significant decline in earnings from the investment of liquid funds as well as the planned amortisation of intangible assets from acquisitions hampered this development.
In light of the development in the first nine months, the forecasted increase in revenues compared to the 2007/2008 financial year can be emphatically confirmed. However, as regards the operating result before investments in the establishment of new fields of business, the goal of an increase compared to the previous year appears increasingly unlikely, despite the positive development in the third quarter, since the shortfall from the second quarter could only be made up with an extraordinarily good fourth quarter and the overall economic situation continues to restrain order clearance.
SinnerSchrader currently expects gross revenues for the financial year to exceed EUR 27 million and EBITA to reach a level of EUR 1.5 million with preparatory costs amounting to EUR 0.5 millon. The dividend payout for the financial year will be adjusted according to the final results for the year and is very likely to once again be tax free for minor shareholders.
The operating cash flows of the first nine months amounted to a good EUR 1.9 million. Due to investments, the dividend payment, and the stock repurchase programme, the liquidity reserve as of 31 May 2009 was EUR 7.7 million, or EUR 1.3 million below the value of 31 August 2008. The equity ratio was 61.5 per cent as of 31 May 2009.
The entire quarterly report can be downloaded from the Internet at http://www.wkn514190.de/s2ir/de/Finanzberichte.html from 3:00 p.m. today.
About SinnerSchrader
SinnerSchrader is one of the leading interactive agencies in Germany. SinnerSchrader develops interactive customer experiences that radically deepen the relationships between brands and consumers. SinnerSchrader was founded in 1996, has been quoted on the stock exchange since 1999, and has over 250 employees at its Hamburg and Frankfurt am Main sites.
Contact:
SinnerSchrader Aktiengesellschaft
Thomas Dyckhoff, CFO T. +49. 40. 39 88 55-0
Martin Recke, Corporate Communication T. +49. 40. 39 88 55-181
E-mail: ir@sinnerschrader.de F. +49. 40. 39 88 55-100
end of announcement euro adhoc
Further inquiry note:
Thomas Dyckhoff
CFO
Telefon: +49(0)40 398855-113
E-Mail: t.dyckhoff@sinnerschrader.de
Branche: Software
ISIN: DE0005141907
WKN: 514190
Index: CDAX, Prime All Share, Technologie All Share
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Hamburg / free trade
Stuttgart / free trade
Düsseldorf / free trade
München / free trade