SinnerSchrader AG

ots Ad hoc-Service: SinnerSchrader AG SinnerSchrader presents strong half-year figures and raises revenue and profit forecast for fiscal year 1999/2000

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    Hamburg (ots Ad hoc-Service) -  

    SinnerSchrader Aktiengesellschaft achieved a revenue of DM 12.6 million in the first half of the 1999/2000 fiscal year (1.9.1999 - 31.8.2000). This represents a 375 percent increase on revenue against the comparable period in the previous year. The operating profit is DM 3.7 million, reflecting a profit-turnover ratio of 29.3 percent. In the second quarter, the Hamburg-based service and consultancy company for eCommerce solutions was able to sustain earlier strong growth and to prove the excellent profitability of its business model. Staff numbers rose by over 60 percent from 62 at the end of August 1999 to a total of 101 employees at the end of February. Currently, 131 people work at SinnerSchrader. On the basis of the company's second-quarter results, SinnerSchrader is increasing its projected revenue figures for the current fiscal year from DM 24 million to DM 28 million. The forecast for the operating profit has been raised from DM 4.3 million to DM 5.6 million. This translates also into an increase of the projected operating profit margin from 18 percent to 20 percent. Projections on staffing are also being revised upwards. At the end of the fiscal year, on 31st August 2000, it is anticipated that there will be more than 150 people employed by the company. Business development in the second quarter was marked by continuing strong growth in business with existing clients. SinnerSchrader created a B2B platform for the sale of high-value real estate for AG which is due to be extended Europe-wide over the coming months. SinnerSchrader has provided support for the English subsidiary of the German online-auction house, and has also supported the business-to-business channel Additionally, SinnerSchrader has developed one of the first functioning WAP applications, for the rental car company Europcar. As a "professional solution provider" for Intershop, SinnerSchrader has extended its range of services through the integration of the Intershop software "Enfinity".

    Amongst its new customers, SinnerSchrader includes the coffee-roasting company Tchibo and the European Internet direct insurer Ineas. As part of its venture strategy, SinnerSchrader has taken a share in the eShipping company Furthermore, SinnerSchrader has begun its move towards internationalisation during the second quarter by founding its first European subsidiary in London. The new company is already providing support for two existing eCommerce clients in the English market.

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