EANS-News: SinnerSchrader AG
SinnerSchrader grows by 24 per cent in the first
half-year of 2011/2012 /margin development below plan
predicted profit for the
2011/2012 financial year compromised
-------------------------------------------------------------------------------- Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- quarterly report Hamburg, 12 April 2012 (euro adhoc) - In its second business quarter in 2011/2012 (1 December 2011 to 29 February 2012), SinnerSchrader once again exceeded the 9 million euro mark with net revenue at 9.1 million euros, surpassing the revenue for the same quarter of the previous year by 27.2 per cent. After a first-quarter growth rate of more than 20 per cent had already been achieved, the total rise in revenue in the first half-year of 2011/2012 was 23.9 per cent over that of the same period of the previous year. This corresponds to growth of about 3.5 million euros on a half-year value of just over 18.4 million euros. The preceding second half-year of 2010/2011 was thus exceeded by 14.2 per cent. Double-digit growth was achieved in all three segments - Interactive Marketing, Interactive Media and Interactive Commerce - in the first half-year of the report. On the one hand, this is an indication of the sustained strong demand for services in the areas of e-commerce, digital marketing and online media - demand which was used to extend the customer base. On the other hand, it is also a result of the acquisitions in the Interactive Marketing and Interactive Commerce segments carried out at the end of the first half-year and during the course of the second half-year of 2010/2011. While revenue was thus well above plan, SinnerSchrader remained below plan in the development of margins and profits for the first half-year of 2011/2012. EBITA in the second quarter amounted to 0.4 million euros, which corresponds to a margin of only 4.6 per cent on net revenue. EBITA for the half-year reached just over 1.1 million euros, or 5.9 per cent of net revenue. A determining factor for the weakness in operating results is a considerable overrunning of costs in a fixed-price project, which continued throughout the half-year period and resulted in operative losses in the mid six-digit range. The project was successfully delivered to one of SinnerSchrader´s biggest customers at the beginning of April 2012, so no further negative effects on earnings are expected. Marketing costs also rose considerably in the half-year of the report, due on the one hand to a large number of customers with high potential, who invited SinnerSchrader to pitches in the core business, and on the other hand to an increase in marketing efforts in the new business areas. Net income for the first half-year of 2011/2012 amounted to 0.4 million euros, or just over 4 per cent per share. While it is highly likely that the revenue forecast of 35.5 million euros for the 2011/2012 financial year will be clearly exceeded, the accrued shortfall in income is now jeopardising the achievement of projected profits. EBITA of 3.25 million euros and net income of 1.7 million euros remain possible. However, the realisation of this target depends strongly on the success of individual existing business initiatives. Current information nevertheless indicates that SinnerSchrader will definitely exceed the results of the previous year - EBITA of 2.6 million euros and net income of 1.3 million euros. Fortunately, the funds tied up in working capital were significantly reduced again as of 29 February 2012. The operating cash flow amounted to 3.0 million euros in the second quarter of 2011/2012 and to 1.5 million euros in the first half-year. The strong operating cash flow in the quarter of the report meant that the dividend payment of 1.1 million euros, which also took place in this quarter, was more than offset. The liquidity reserve increased by just more than 1.4 million euros over the reserve at the end of the previous quarter, to reach 5.3 million euros. On the balance sheet date of 29 February 2012, the shareholders´ equity rate amounted to 59.2 per cent, falling just short of the 59.4 per cent rate on 31 August 2011. At the end of the quarter of the report, there were 431 employees in the SinnerSchrader Group, i.e. 31 employees more than on 31 August 2011. The complete quarterly report can be downloaded from the Internet at www.sinnerschrader.ag/s2ir/de/Finanzberichte.html as of 3 p.m. today. About SinnerSchrader SinnerSchrader is one of the leading digital agencies in Europe. SinnerSchrader develops interactive strategies, platforms, and applications which create radical relationships between consumers and brands. The SinnerSchrader Group has more than 400 employees in Hamburg, Frankfurt am Main, Berlin, and Hanover who work for customers such as Allianz, TUI, Tchibo, simyo, REWE, comdirect bank, PPR Group, OTTO, and Steigenberger. SinnerSchrader was founded in 1996 and has been quoted on the stock exchange since 1999. Contact for press and public relations Benjamin Nickel Head of Corporate Communications presse@sinnerschrader.com Contact for shareholder information Thomas Dyckhoff CFO ir@sinnerschrader.com SinnerSchrader Aktiengesellschaft Völckersstr. 38 D-22765 Hamburg T. +49. 40. 39 88 55-0 Further inquiry note: Thomas Dyckhoff CFO Telefon: +49(0)40 398855-113 E-Mail: t.dyckhoff@sinnerschrader.de end of announcement euro adhoc -------------------------------------------------------------------------------- company: SinnerSchrader AG Völckersstraße 38 D-22765 Hamburg phone: +49(0)40-398855-0 FAX: +49(0)40-398855-55 mail: info@sinnerschrader.de WWW: http://www.sinner-schrader.de sector: Software ISIN: DE0005141907 indexes: CDAX, Prime All Share, Technology All Share stockmarkets: free trade: Berlin, München, Hamburg, Düsseldorf, Stuttgart, regulated dealing/prime standard: Frankfurt language: English
Original content of: SinnerSchrader AG, transmitted by news aktuell