EANS-News: SinnerSchrader AG
SinnerSchrader grows by 21 per cent in first half
of 2008/2009 and invests in new fields of business
Hamburg (euro adhoc) -
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SinnerSchrader reached the end of the first half of the 2008/2009 financial year (1 September 2008 to 28 February 2009) with a 21 per cent increase in gross revenues. Gross revenues rose by EUR 2.4 million to reach EUR 13.9 million, while net revenues improved by 22 per cent, reaching EUR 10.3 million.
Due to preparatory cost for the establishment of new fields of business amounting to around EUR 0.2 million, the operating result (EBITA) declined by 19 per cent to EUR 0.7 million in comparison to the same period in the previous year. The consolidated income in the first half-year came to EUR 0.5 million. This corresponds to EUR 0.04 per share, which is EUR 0.02 less than in the previous year.
In November 2008, SinnerSchrader began to set up an e-commerce unit which will act as an outsourcing partner to customers by planning, implementing, and operating complete e-commerce activities in return for a share of revenues. Numerous customer inquiries prove that there is a concrete need for such services and an acceptance of SinnerSchrader in this field of business.
With the takeover of the marketing business of the newtention group at the start of December 2008, SinnerSchrader also started to expand its media business to include the field of performance marketing in order to better address the demand for efficient, service-oriented sales promotion via digital channels.
With these investments, SinnerSchrader is confirming its conviction that the business of interactive agencies can develop positively in the year 2009 despite the economic downturn, even though business development slowed down noticeably in the second quarter of 2008/2009 due to the economy.
Gross revenues in the second quarter of 2008/2009, including positive consolidation effects, amounted to EUR 6.6 million, just 9 per cent above the corresponding quarter in the previous year. Net revenues improved by 8 per cent, reaching EUR 4.8 million. Burdened by preparatory cost and initial losses, the EBITA reached EUR 0.1 million in the quarter of the report. Incoming orders in the second quarter of 2008/2009 were up by around 12 per cent in comparison to the year before. The Steigenberger Hotel Group became a new customer for SinnerSchrader.
In light of its business development in the first half-year, SinnerSchrader is on course to surpass its revenues of the previous year of EUR 24.2 million in the 2008/2009 financial year. However, an increase in the operating result (EBITA) of EUR 2.3 million will only be possible before preparatory cost and initial losses for the establishment of new fields of business. Both forecasts apply only as long as there is no unexpected worsening of economic development as a whole or, in particular, the economic development of individual customers which cannot currently be foreseen.
The operating cash flows of the first half of 2008/2009 of around EUR 1.0 million were entirely invested in business expansion in the second quarter. The payment of the dividend in December 2008 and the share buy-back programme were therefore initially financed from the liquidity reserve which still amounted to EUR 7.4 million on 28 February 2009. The equity ratio was 63.4 per cent on the same date.
The entire quarterly report can be downloaded from the Internet at http://www.wkn514190.de/s2ir/en/5091.html from 2:00 p.m. today.
About SinnerSchrader SinnerSchrader is a leading interactive agency in Germany. SinnerSchrader develops interactive customer experiences which radically intensify the relationship between brands and consumers. SinnerSchrader was founded in 1996, has been listed on the stock exchange since 1999, and has over 200 employees in Hamburg and Frankfurt am Main.
end of announcement euro adhoc
Further inquiry note:
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
Branche: Software
ISIN: DE0005141907
WKN: 514190
Index: CDAX, Prime All Share, Technologie All Share
Börsen: Börse Frankfurt / regulated dealing/prime standard
Börse Berlin / free trade
Börse Hamburg / free trade
Börse Stuttgart / free trade
Börse Düsseldorf / free trade
Börse München / free trade