EANS-News: SinnerSchrader AG
SinnerSchrader grows by 18 per cent in the first
nine months of 2011/2012
Predicted profit adjusted following spot-media losses
-------------------------------------------------------------------------------- Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- 9-month report Hamburg, 12 July 2012 (euro adhoc) - In the third financial quarter of 2011/2012 (1 March 2012 to 31 May 2012), SinnerSchrader earned net revenue in the amount of 8.4 million euros, which corresponds to growth of 7.6 per cent in comparison to the previous year. The slowdown in growth dynamics has thus been unexpectedly sharp in comparison to the two preceding quarters, in each of which growth rates of more than 20 per cent were generated. Net revenue reached a total of 26.7 million euros in the first nine months of the current financial year, which is an increase of 18.3 per cent over the corresponding period of the previous year. As already reported on 19 June 2012, a substantial reason for the slowdown in the third quarter was the considerable reduction in orders from two major clients of the spot-media Group. The resulting loss in revenue against plans, in the amount of around 0.6 million euros, was not offset by revenue generated by any of the other Group units. SinnerSchrader believes that developments at spot-media are not an indication of a general weakening of dynamics in the market for digital marketing. The company opened an office in Munich in May 2012 in order to intensify customer support for its customer Allianz and to be able to better meet demand in southern Germany. With its adserving services in the Interactive Media segment, SinnerSchrader gained Bigpoint, one of the largest suppliers of online games in the world, as a customer, and launched a product initiative in audience management aimed at advertisers. Furthermore, SinnerSchrader Mobile GmbH reached the break-even point on the basis of the acquisition of important new customers in the quarter of the report. However, for the SinnerSchrader Group, the spot-media revenue losses in the third quarter of 2011/2012 resulted in an operating loss (EBITA) of 0.06 million euros and in net income of minus 0.2 million euros or minus 0.02 euros per share. For the nine-month period, EBITA was at 1.0 million euros and net revenue at 0.2 million euros or 0.02 euros per share. Based on the revenue development in the third quarter, which is deemed not to be temporary, spot-media implemented restructuring measures as early as June 2012 in order to adjust its capacity by around 20 per cent. Furthermore, the plan is to merge the two units specialising in e-commerce services in the SinnerSchrader Group - spot-media AG and next commerce GmbH - in order to pool their expertise and effectiveness. Seen the developments in the quarter of the report, the original profit prediction for the 2011/2012 financial year can no longer be upheld, as already announced on 19 June 2012. Taking into account the costs for restructuring measures, SinnerSchrader now presumes that EBITA for the 2011/2012 financial year will be in the range of 1.3 to 2.0 million euros and that net income will be positive. Revenue is expected to exceed the forecast for the year at the amount of 35.5 million euros. The operating cash flow in the current financial year continued to grow in the third quarter by 0.2 million euros, to 1.7 million euros. The liquidity reserve at the end of the reporting period on 31 May 2012 amounted to 5.2 million euros, just 0.1 million euros below the figure at the end of the second quarter of 2011/2012 , and 0.6 million euros below the amount as at 31 August 2011. The shareholders' equity ratio on 31 May 2012, at 58.8 per cent, just fell short of the 59.4 per cent equity 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 more than on 31 August 2011. At its meeting on 10 July 2012, the Supervisory Board of SinnerSchrader AG approved the proposal brought forward by the Management Board concerning a resumption of the share buy-back programme up until 31 December 2012. The complete quarterly report can be downloaded from the Internet at www.sinnerschrader.ag/s2ir/de/Finanzberichte.html as of 4 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 over 400 employees in Hamburg, Frankfurt am Main, Berlin, Hanover, and Munich 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 SinnerSchrader Aktiengesellschaft Thomas Dyckhoff, Finance Director T. +49. 40. 39 88 55-0 Benjamin Nickel, Head of Corporate Communications T. +49. 40. 39 88 55-542 E-mail: ir@sinnerschrader.de F. +49. 40. 39 88 55-100 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
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