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ots Ad hoc-Service: SinnerSchrader AG
SinnerSchrader triples turnover and doubles profit
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Hamburg (ots Ad hoc-Service) - SinnerSchrader triples turnover and doubles profit. 1999/2000 annual accounts confirm profitable growth path.
In its financial year 1999/2000 ending on 31 August 2000, SinnerSchrader Aktiengesellschaft achieved a consolidated turnover of DM 28.7 million and an operating profit of DM 6.6 million. SinnerSchrader was therefore able to triple its turnover in comparison with the previous period, double its operating income and provide emphatic proof of the success of its profitable growth path. Turnover and profit are both significantly above the original budgeting of DM 24.0 million and DM 4.3 million respectively which SinnerSchrader held out in prospect when it went public on 2 November 1999. The operating result margin is just on 23 percent.
Including the positive financial result of DM 1.6 million, the profit before tax was DM 8.2 million. After deducting taxes, the result was an annual net profit of DM 3.8 million. Per share, this represents a profit of DM 0.40 or Euro 0.20 in the financial year 1999/2000. SinnerSchrader is thus one of the most profitable e-commerce service providers in the world.
The basis for this financial success was the development of SinnerSchrader's project business. One third of overall turnover was achieved through new customer business alone. The share of companies from the old economy rose by 17 percent to 70 percent. SinnerSchrader was, for example, able to acquire Tchibo and OTTO Versand as new customers. The market entry of Blume2000.de and LetMeShip, in which SinnerSchrader has a share as a venture partner, went extremely promisingly. LetMeShip has already been singled out for its business concept.
The technological competence demonstrated in the design of Internet-based business processes proved to be an important differentiating characteristic of the Hamburg company. This is crucially important to companies of the so-called old economy, in particular. With the "unified commerce" strategy, SinnerSchrader aims its range of services for these customers at the integration of all digital sales channels. In addition to the Internet, the company also integrates WAP and GPRS services, stationary kiosk terminals and digital television into the sales network.
SinnerSchrader has realised the growth in the financial year 1999/1000 entirely organically and thus significantly reinforced the corporate culture and processes. In the reporting period, the number of employees rose from 62 to 174, with attention predominantly given to the expansion of software development. With the founding of a subsidiary in London, SinnerSchrader started the process of internationalisation that is important to the further development of business.
The successful development of business together with the strengthening of capital resources through going public form an excellent basis for continuing its dynamic and profitable growth path. Selective acquisitions will support this organic development. With the takeover of e-commerce software specialist Netmatic Intranet/Internet Solutions GmbH just before the end of the last business year, which was completed in December after approval by the general meeting of shareholders, SinnerSchrader took a first important step that has significantly reinforced the technological competence of SinnerSchrader. The crucial challenge of the current business year is the development of European business.
More informations and report: www.sinnerschrader.com
SinnerSchrader Aktiengesellschaft Investor Relations Julia Kretschmann Planckstrasse 13 22765 Hamburg Tel.: 040-39 88 55-89 Fax.: 040-39 88 55-55 email@example.com
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Original-Content von: SinnerSchrader AG, übermittelt durch news aktuell