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ots Ad hoc-Service: SinnerSchrader AG
turnover of DM
21.1 million in first half of 2000/2001
Ad hoc-announcement. The sender is solely responsible for the contents of this announcement. -----------------------------------------------------
Hamburg (ots Ad hoc-Service) - turnover 68% higher than previous year - positive operating result despite substantial write-down on receivables - liquidity of DM 54 million secures commercial autonomy
The SinnerSchrader Company is now confirming the provisional figures announced in early April for the first half of its 2000/2001 financial year. During the first six months, the company achieved a turnover of some DM 21 million. This represents an increase of 68% over the turnover in the same period of the previous year. Of the total amount, DM 5.5 million were attributable to the acquisition Netmatic, whose results are being consolidated with effect from 1.1.2001. Netmatic also made a positive contribution to profits, a fact which confirms the quality of this acquisition.
At a book value of DM 153,000 for the first half-year, operating results remained positive. Operating profit was impaired primarily by write-down on receivables of some DM 2.7 million effected during for the large position in the second quarter. In addtion, EBIT is negatively affected by depreciations of goodwill from the acquisition of some DM - 3.9 million.
In tabular form, the company's situation is as follows:
1st Half-Year* 1st Half-Year 1stHalf-Year
2000/2001 2000/2001 1999/2000
Revenues (DM) 21.1 Mio. 17.3 Mio. 12.6 Mio.
Operating profit (DM) 0.15 Mio. - 0.9 Mio. 3.7 Mio.
EBIT (DM) - 3.6 Mio. - 2.2 Mio. 3.7 Mio.
Earnings per share (DM) - 0.29 - 0.13 0.21
Mitarbeiterzahl 268 268 101
Liquid funds (DM) 54 Mio. 54 Mio. 61.6 Mio.
* pro forma assuming consolidation of Netmatic as from 01.09.2000
Issuer's information/explanation remarks concerning this ad hoc announcement:
Progress of business during the first half of the 2000/2001 trading year and the second quarter of 2000/2001
Project Services During the first six months of 2000/2001, Project Services showed the most marked increase, rising by more than 110% above the first six months of 1999/2000. Viewed in isolation, this division also achieved an increase of 89% during the second quarter compared to the equivalent period of the previous year. Compared to the first three months of the current trading year, sales of DM 8.2 million remained partially stable. In this area, the minus of DM 400,000 was comparatively modest given the difficult market conditions. This division now contributes four-fifths of total sales. The successful start of maxblue, Deutsche Bank's new financial portal, deserves special mention at this juncture. SinnerSchrader's principal contribution to this project was its technical expertise. For the first time, maxblue is providing broadband-compatible content in addition to live reports from the Frankfurt Stock Exchange floor. For the Bertelsmann Group, SinnerSchrader has re-launched derclub.de, which offers more than 6,000 products online to book-club members. SinnerSchrader beat several renowned competitors to win this contract. Finally, SinnerSchrader developed the Internet presence for the international telecommunications provider HansaNet. This project built the foundation for the forthcoming broadband gateway through which it will be possible, in the subsequent stage, to download music videos or films in TV quality.
Media Services In contrast, sales by Media Services decreased. This reflects the crisis in the online advertising sector, which was also the main reason why total sales for the group during the second quarter were DM 1.3 million lower than in the three preceding months. Of this total, almost DM 1 million were attributable to this division.
During the second quarter, SinnerSchrader applied the brake to growing staff numbers as a response to the economic climate. At the end of the reporting period, SinnerSchrader employed 268 employees; currently total headcount is at 260. With the current staff SinnerSchrader sees itself well positioned to handle existing and forthcoming projects. In order to cope with the more difficult market conditions SinnerSchrader will intensify its sales activities. Effective capacity and cost management remains equally important. Through these measures, the company is striving to achieve an operating profit for the year as a whole.
SinnerSchrader Aktiengesellschaft Julia Kretschmann Investor Relations Planckstraße 13 22765 Hamburg Germany
Tel.: + 49.(0)40.39 88 55 0 Fax: + 49.(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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