euro adhoc: OnVista AG
Quarterly or Semiannual Financial Statements
9 months figures for 2002 on target/ Company records another operating profit
Cash flow positive/ Positive pre-tax group result expected for the year as a whole (E)
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
18 Nov. 2002 - In the third quarter 2002, OnVista AG (DE0005461602) again met its targets and further improved its profit performance under continued difficult market conditions. In Q3/02, EBITDA totalled Euro 0.46 mill. (Q3/01: Euro -0.93 mill.). EBIT improved to Euro -0.22 mill. (Q3/01: Euro -1.47 mill.). The pre-tax group result (EBT) amounted to Euro 0.14 mill. compared to Euro -1.18 mill. in Q3/01. The after-tax result was also positive, totalling Euro 0.03 mill. (Q3/01: Euro -0.96 mill.).
In the 9 months period as a whole, EBITDA totalled Euro 0.77 mill. (9 mths/01: Euro -2.21 mill.) and EBIT Euro -1.11 mill. (9 mths/01: Euro -4.74 mill.). OnVista recorded a pre-tax group result of Euro 0.08 mill. (9 mths/01: Euro -6.76 mill.). The after-tax result improved from Euro -6.50 mill. in 9 mths/01 to Euro -0.25 mill. in the 9 months period of 2002.
In the first 3 quarters of 2002, group sales amounted to Euro 8.58 mill. compared to Euro 9.17 mill. in 9 mths./01 (-6.5%). The total income from operating activities, including additional income from licensing agreements under the balance sheet item other operating income (Euro 0.87 mill.), amounted to Euro 9.44 mill., slightly exceeding the figures recorded in the same period last year.
The positive performance is directly attributable to cost savings in the amount of Euro 1.82 mill. (-14%) to Euro 11.02 mill. (9 mths/01: Euro 12.84 mill.).
In the first 9 months of 2002, cash flow was positive, totalling Euro 0.81 mill., in contrast to the same period last year (Euro -6.45 mill.). As at 30 Sep. 2002, cash and cash equivalents increased to Euro 28.14 mill. (31.12.2001: Euro 27.27 mill.). The cash value per share rose to Euro 4.17 (31.12.2001: Euro 4.07).
Annual projection 2002: As expected, cash flow will remain positive, EBITDA positive in the lower region of single digit mill., EBIT negative, in the lower region of single digit mill., pre-tax group result moderately positive. The after-tax result under US GAAP will be negative in the lower region of single digit mill., as a result of the write-back of prepaid deferred taxes arising from the spin-off of 2 business segments into OnVista Media GmbH and OnVista Technologies GmbH respectively. This is a one-off, purely technical measure without any material effect on the economic position of the company. No taxes will actually be paid and the liquidity position will not be affected. The only key figure affected hereby is the after-tax result under US GAAP in 2002.
Group results under US GAAP; detailed press release: www.onvista-ag.de, under Press; full Q3/2002 report: www.onvista-ag.de, under 'Investor Relations'.
end of announcement euro adhoc 18.11.2002
Further inquiry note:
S. Bohlmann, IR, Tel. +492203/9146-220, ir@onvista.de, A. Seipp, PR, Tel.-306,
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
Hamburger Wertpapierbörse / free trade
Niedersächsische Börse zu Hannover / free trade
Frankfurter Wertpapierbörse / Neuer Markt