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ots Ad hoc-Service: SinnerSchrader AG
announces provisional half-yearly figures
Ad hoc-announcement edited and sent by DGAP. The sender is solely responsible for the contents of this announcement. ----------------------------------------------------
Hamburg (ots Ad hoc-Service) - Planned figures for the current business year are to be adjusted according to the altered market conditions.
+ DM 21 million turnover in the first six months + 67% growth in comparison to the previous year
+ turnover in the 2nd quarter of just over DM 10 million + liquid funds of DM 53 million
Issuer's information/explanation remarks concerning this ad hoc announcement:
On the basis of provisional figures, SinnerSchrader AG has achieved a pro forma turnover of around DM 21 million for the first six months of the current business year 2000/2001 (01/09/2000 to 31/08/2001). This represents a 67% increase in the company's revenue base compared to the first half of the previous year including Netmatic Internet/ Intranet Solution GmbH (now SinnerSchrader Netmatic GmbH).
As far as the second quarter of 2000/2001 (01/12/2000 to 28/02/2001) is concerned, the pro forma turnover was almost DM 10 million. It is clear to see from the drop of around DM 1.2 million in comparison to the previous quarter that SinnerSchrader was unable to escape the effects of the worsened market conditions for Internet service providers. The changes in the online advertising market are particularly distinct. This is where the most part of the fall in SinnerSchraders quarterly turnover was felt, around DM 1 million.
On the basis of the provisional figures, SinnerSchrader has still achieved positive operational figures in the first half of the business year. Even the second quarter was operationally positive. However, the continuing negative development in the Internet sector demands a critical evaluation of some dot.com receivables still outstanding from the previous year, as well as of our involvement in joint ventures. The combination of these two factors could lead to a one-time burden of up to DM 2.7 million in the first half of the business year. The result before tax and goodwill deductions would, however, remain positive even after this measure.
The business development of the second quarter shows that the changes in the market environment are more fundamental and persistent than was first expected. SinnerSchrader is taking this into account for its targets in the business year 2000/2001. From the current perspective the turnover in the second half of the business year will likely not surpass the first half of the year.
The fundamental target remains operational profitability. To ensure this, SinnerSchrader will build on its technological expertise while at the same time strengthening its marketing and sales. In the first half-year SinnerSchrader was particularly successful in winning attractive new projects: along with first- time projects for Bertelsmann and HanseNet the e-commerce service provider has realised maxblue for Deutsche Bank.
Moreover, with assets of around DM 53 million in liquid resources at the end of the quarter, SinnerSchraders ability to operate independently is secure at any rate. The company will publish the finalised figures for the first half of the business year on 24 April 2001.
Julia Kretschmann, Investor Relations, SinnerSchrader Aktiengesellschaft Tel. 0049.(0)40.39 88 55 89, Fax 0049.(0)40.39 88 55 55 eMail firstname.lastname@example.org
Mark Pohlmann, Public Relations, SinnerSchrader Aktiengesellschaft Tel. 0049.(0)40.39 88 55 28, Fax 0049.(0)40.39 88 55 55 eMail email@example.com
WKN: 514190; Index: Listed: Neuer Markt in Frankfurt, Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München, Stuttgart
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