euro adhoc: OnVista AG
Financial Figures/Balance Sheet
OnVista Group ends
the financial year 2005 above plan: Sales +40%, pre-tax result +75%
First
dividend payment: Euro 0.10 per share proposed
Dynamic growth expected to
continue
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
16.03.2006
OnVista AG (DE0005461602) is looking back at an extremely successful financial year and plans to distribute a dividend for the first time. According to the 2005 annual accounts approved by the Supervisory Board today, the company increased group sales by 40% and achieved overproportional growth in EBITDA (+153%), EBIT (+4,672%) and the group pre-tax result (+75%). As a result, the OnVista Group exceeded its annual projections once more which were last raised only in November. As announced, the group after-tax result was negative due to a one-time tax effect.
In the financial year 2005, group sales amounted to Euro 9.74 mill. (prev. year: Euro 6.95 mill.). Sales improved steadily over the four quarters. On the occasion of the presentation of the 2004 annual accounts, OnVista had expected revenues of just 'above Euro 8 mill.', the sales forecast was last increased to 'more than Euro 9 mill'.
The development of the operating result was even more dynamic. In the year under review, EBITDA of the OnVista Group amounted to Euro 1.36 mill. (prev. year: Euro 0.54 mill.). EBIT rose from '000 Euro 17 in the previous year to Euro 0.83 mill. in 2005. This corresponds to an EBIT margin of 8.5%. The final quarter alone contributed Euro 0.52 mill. to EBIT 2005. Below the line, the OnVista Group achieved a pre-tax group result of Euro 1.61 mill. (prev. year: Euro 0.92 mill). As a result, OnVista exceeded its own projections (originally: '+50%', namely Euro 1.38 mill.; ultimately 'more than Euro 1.5 mill.'). The pre-tax profit to sales ratio reached 17% in the year under review (prev. year: 13%).
The after-tax group result was burdened by a one-time tax effect (tax charge in the amount of Euro 1.42 mill. from the sale of the IS.Teledata investment). The after-tax group result was therefore negative, as announced, and totalled Eureo -0.49 mill. (prev.year: Euro 0.42 mill.). Without the tax effect, the group result for the year would have been positive. The earnings per share stood at Euro -0.07 (prev. year: Euro 0.06).
The excellent business trend was due to the operating business. The internet activities situated in the Media business segment (OnVista finance portal, Onmeda healthcare portal, Ligatus performance marketing network) contributed 98% to the pre-tax group result (segment result Euro 1.57 mill.). The Technologies business segment (= the now disposed of 36% stake in IS.Teledata AG) was slightly negative (segment result '000 Euro -32), the Corporate Services segment (= holding company) ended the year slightly positive (segment result '000 Euro 69).
As at 31.12.2005, cash and cash equivalents of the OnVista Group amounted to Euro 40.09 mill. (31.12.2004: Euro 22.61 mill.). The strong increase is primarily due to the inflow of funds in the amount of Euro 15.16 mill. from the sale of the IS.Teledata stake and a positive operating cash flow (Euro 2.15 mill.) in the financial year 2005. The cash value per share stood at Euro 5.98 (31.12.2004: Euro 3.38).
In the individual accounts under the German Commercial Code (HGB), the company accrued a net income for the year in the amount of Euro 1.00 mill. (prev. year: Euro 0.54 mill. +86%). The retained earnings relevant to the ability to pay a dividend amounted to Euro 2.13 mill. (prev. year: Euro 0.92 mill., +133%). The Executive Board and the Supervisory Board believe that the positive earnings situation of OnVista AG and its high capital resources available allow payment of a dividend to its shareholders for the first time for the financial year 2005. The joint proposal on the appropriation of profits by the Executive Board and the Supervisory Board calls for a total distribution of Euro 0.67 mill. Under this proposal, which is subject to adoption by the ordinary annual general meeting on 27 June 2006, this amounts to Euro 0.10 per share.
As a result of the OnVista Group's good position in a highly positive market environment, the Executive Board expects the dynamic growth to continue in the coming years. For the financial year 2006, the company envisages group sales of around Euro 12.5 mill. and overproportional growth in performance to more than Euro 2 mill. in the pre-tax group result.
IMPORTANT NOTE: In addition to the approval of the annual accounts 2005, a joint proposal by the Executive Board and the Supervisory Board regarding a special distribution was agreed in today's Supervisory Board meeting. In addition, changes in both the Executive Board and the Supervisory Board are planned. Please refer to the second ad hoc announcement published today.
Consolidated financial statements under IFRS; detailed press release: www.onvista-group.de, section 'Press'; full annual report from 31.3.2006 at: www.onvista-group.de, section 'Investor Relations': htt p://www.onvista-group.de/investor-relations/finance-publications.html
Contact: Anja Seipp, Tel. +49-2203/9146-306, Email ir@onvista-group.de
end of announcement euro adhoc 16.03.2006 14:31:10
Further inquiry note:
Anja Seipp
Head of Corporate Communications
Tel. +49(0)2203 9146 306
Mobil: +49 (0) 160 802 9981
E-Mail: ir@onvista-group.de
Branche: Computing & Information Technology
ISIN: DE0005461602
WKN: 546160
Index: CDAX, Prime All Share, Technologie All Share
Börsen: Frankfurter Wertpapierbörse / regulated dealing/prime
standard
Börse Berlin-Bremen / free trade
Hamburger Wertpapierbörse / free trade
Baden-Württembergische Wertpapierbörse / free trade
Börse Düsseldorf / free trade
Bayerische Börse / free trade