EANS-News: SinnerSchrader AG
SinnerSchrader grows by 8 per cent in first half
of 2009/2010
Operating result doubles
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6-month report
Hamburg (euro adhoc) - SinnerSchrader continued its positive business development in the first half of the 2009/2010 financial year (1 September 2009 to 28 February 2010). Net revenues rose by a good 8.4 per cent to around EUR 11.3 million. After a growth rate of 6.4 per cent in the first financial quarter, SinnerSchrader achieved double-digit growth of 10.8 per cent in the second quarter of 2009/2010. This positive development was driven by the Interactive Marketing segment, which saw revenue growth of 9 per cent in the first half-year. Incoming orders in the first half of the financial year were nearly 16 per cent higher than in the year before.
Business with new customers accounted for nearly 12 per cent of the net revenues; this figure was a good 7 per cent last year. Among other things, SinnerSchrader won and completed an order from the Otto Group to design and implement the new online shoe shop mirapodo.de. SinnerSchrader also received first orders from REWE, Heine Versand, and Radio Hamburg. spot-media won a contract with the Hamburg duty-free shop operator Gebr. Heinemann.
SinnerSchrader was able to double its operating result (EBITA) to EUR 0.8 million in the first half-year compared to the year before. SinnerSchrader also continued to invest in the expansion of the new business fields of e-commerce outsourcing and ad serving, the start-up costs for which amounted to EUR 0.7 million in the half-year covered by the report. The operating margin was 7.1 per cent.
SinnerSchrader has therefore confirmed its targets for the 2009/2010 financial year and expects net revenue growth of over 14 per cent as well as a disproportionate rise in the operating result (EBITA).
The net income improved in the first half-year by nearly EUR 0.4 million to reach a good EUR 0.4 million. The earnings per share amounted to 4 cents. Thanks to a strong operating cash flow since 31 August 2009, the liquidity reserve grew by around EUR 1.0 million to reach EUR 9.0 million as of 28 February 2010, despite the dividend payment in December 2009. The equity ratio was 60.7 per cent. On 28 February 2010, the SinnerSchrader Group had 294 employees.
The entire quarterly report can be downloaded from the Internet at www.wkn514190.de/s2ir/de/Finanzberichte.html from 2:00 p.m. today.
In one of its regular meetings, the Supervisory Board approved the proposal of the Management Board to begin buying back treasury stock again on the basis of the authorisation granted by the Annual General Meeting on 16 December 2009. The buy-back programme is initially scheduled to end on 31 August 2010, but at the latest it will end when the share of treasury stock has reached a threshold of 10 per cent of the share capital. SinnerSchrader AG currently holds treasury stock which represents 2.34 per cent of the share capital.
About SinnerSchrader
SinnerSchrader is one of the leading interactive agencies in Germany. SinnerSchrader develops digital strategies, platforms, and applications which create radical relationships between consumers and brands. The SinnerSchrader Group has around 300 employees who work for customers such as Deutsche Bank, TUI, Tchibo, simyo, ECCO, comdirect bank, Heine, mobilcom-debitel, Steigenberger, and Unitymedia. SinnerSchrader was founded in 1996 and has been quoted on the stock exchange since 1999.
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Further inquiry note:
Thomas Dyckhoff
CFO
Telefon: +49(0)40 398855-113
E-Mail: t.dyckhoff@sinnerschrader.de
Branche: Software
ISIN: DE0005141907
WKN: 514190
Index: CDAX, Prime All Share, Technology All Share
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Hamburg / free trade
Stuttgart / free trade
Düsseldorf / free trade
München / free trade
Original content of: SinnerSchrader AG, transmitted by news aktuell