euro adhoc: OnVista AG
Quarterly or Semiannual Financial Statements
OnVista: 6 months figures 2002 on target
First positive quarterly result since 2000
Costs reduced
Net income for the year envisaged (E)
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
19 Aug. 2002 - In the second quarter 2002, OnVista AG (DE0005461602) once again met its targets under continued difficult market conditions. In Q2/02, the company generated its first moderately positive after-tax group income since 2000 totalling Euro 0.02 mill. (Q2/01: Euro -5.38 mill.). EBIT improved to Euro -0.29 mill. (Q2/01: Euro -2.71 mill.). For the second successive quarter EBITDA was again positive at Euro 0.31 mill. (Q2/01: Euro -1.17 mill.). In the 6 months period 2002 overall, OnVista improved its group result to Euro -0.28 mill. (6 mths/01: Euro -5.54 mill.) and EBIT to Euro -0.89 mill. (6 mths/01: Euro -3.27 mill.). EBITDA was positive at Euro 0.31 mill. (6 mths/01: Euro -1.28 mill.).
The turnaround is directly attributable to the substantial savings across all cost items. In the first half year 2002, OnVista reduced its operating costs by 13% to Euro 7.39 mill. (6 mths/01: Euro 8.54 mill.). In the first half year 2002, group sales amounted to Euro 5.60 mill. compared to Euro 6.25 mill. in the same period last year (-10%). In 2002, OnVista recorded additional income from licensing agreements (Euro 0.58 mill.), recorded under other op. income. The income arises from licensing fees paid to OnVista by customers for online services which are no longer being rendered. The total income from operating business, including these licensing revenues, amounted to Euro 6.18 mill., almost unchanged to the same period last year. The restrained sales performance matches the companys projections.
In the first half year 2002, the company recorded a positive operating cash flow of Euro 0.27 mill. in contrast to Euro -0.82 mill. in the same period last year. The group cash flow amounted to Euro -0.01 mill. (6 mths./01: EUR -3.80 mill.). On 30 Jun 2002, cash and cash equivalents totalled Euro 27.23 mill. (31 Dec 2001: Euro 27.27 mill.). The cash value per share remained almost unchanged at Euro 4.06 (31 Dec 2001: Euro 4.07). Annual projections have been reaffirmed: return to profitability predicted for 2002.
Group results under US GAAP; detailed press release: www.onvista-ag.de Press; full Q2/02 report: www.onvista-ag.de Investor Relations. Contact: S. Bohlmann, IR, Tel. +49 2203/9146-220, ir@onvista.de; A. Seipp, PR, Tel.-306, presse@onvista.de
end of announcement euro adhoc 19.08.2002
Further inquiry note:
IR: Stefan Bohlmann Tel. +49(0)2203 9146 220 E-Mail: ir@onvista.de Press: Anja Seipp Tel.
+49(0)2203 9146 306 E-Mail: presse@onvista.de
Branche: Computing & Information Technology
ISIN: DE0005461602
WKN: 546160
Index: Nemax
Börsen: Baden-Württembergische Wertpapierbörse / free trade
Bayerische Börse / free trade
Berliner Wertpapierbörse / free trade
Börse Düsseldorf / free trade
Bremer Wertpapierbörse (BWB) / free trade
Frankfurter Wertpapierbörse / free trade
Hamburger Wertpapierbörse / free trade
Niedersächsische Börse zu Hannover / free trade