euro adhoc: phion AG
Annual Reports
First half year at phion AG sees an
ongoing massive market expansion
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
6-month report
25.11.2008
First half year at phion AG sees an ongoing massive market expansion:
- phion approaches the 5 million sales mark - Results continue to be affected by costs of internationalisation - Integration of Visonys into phion AG completed
Innsbruck, 26 November 2008 - During the first half of the current financial year 2008/09, sales at phion AG, listed on the mid market of the Vienna Stock Exchange (ISIN AT0000PHION3), increased by more than 30% compared to the same period last year. With net revenues of 4,987,000 Euros, the Tyrolean IT security supplier almost reached the 5 million Euro mark (first half year 2007/08: 3,800,000 Euros).
As already outlined at the last Annual Shareholder´s Meeting, the company´s income continues to be affected by the costs of internationalisation, including the corresponding recruitment of personnel. The company can count on substantial contribution margins from the new markets but not for 12 to 15 months at the earliest. In addition to the home markets Austria, Switzerland and Germany, phion is well on its way to establishing itself in Italy, England, the Benelux countries, in several Eastern European countries, as well as in the Middle East.
In the first half year, EBITDA amounts to -1.2 million Euros. After depreciation of 0.6 million Euros, EBIT totals to -1.8 million Euros (first half year 2007/08: -0.1 million Euros). EBT is -1.7 million Euros.
After the acquisition of Visonys, the Swiss supplier of IT security solutions, phion´s balance sheet remains very strong, with an equity ratio of more than 63% and cash and cash equivalents of almost 6 million Euros. Visonys has already been integrated into phion and all products (for example one of the world leading web application firewalls) are being offered under the phion brand.
Based on experience, phion´s management expects the second half of the financial year to be stronger than the first half. However, due to general insecurity about future economic development, prolonged decision-making on the part of customers regarding investments is already perceivable. To what extent planned investments in corporate security architecture will actually be postponed as a consequence of the expected global recession, cannot be foreseen at this time.
Development phion AG in 4-9/2008, compared to 4-9/2007
4-9/2008 4-9/2007 Sales (in TEUR) 3,800 4,987 EBITDA (in TEUR) -1,222 321 EBIT -1,849 -65 EBT -1,703 71
On www.phion.com, you will find the half year report 2008/09 for download in German and in English.
end of announcement euro adhoc
Further inquiry note:
Dr. Wieland ALGE, CE0 phion AG,
Eduard-Bodem-Gasse 1, 6020 Innsbruck
Tel. +43 (0)508 100
E-Mail: w.alge@phion.com
Branche: Computing & Information Technology
ISIN: AT0000PHION3
WKN:
Index: mid market
Börsen: Wiener Börse AG / Regulated free trade