Cologne/Germany, November 19, 2001.- In the first 9 months of 2001, OnVista AG (DE0005461602) generated group sales of Euro 9.17 mill. Hence, the company almost doubled (+96%) its revenues compared to the same period last year (Euro 4.68 mill). Q3 sales amounted to Euro 2.93 mill., exceeding the Q3 2000 results by 37%(Euro 2.13 mill.). The after-tax group result totalled Euro –0.96 mill. in Q3 2001 (Q3/00: Euro 0.20 mill.). Compared to the previous quarter (Q2/01: Euro –5.38 mill.), OnVista was thus able to substantially reduce the deficit. Results in Q2 were heavily burdened by non-cash non-recurrent special write-offs totalling Euro 4.41 mill. Compared to Q2 2001, all other relevant key result figures also improved in Q3. In Q3 2001, EBITDA amounted to Euro –0.93 mill. (Q3/00: Euro 0.20 mill.), after Euro –1.17 mill. in Q2 2001. EBIT totalled Euro –1.47 mill. in Q3 2001 (Q3/00: Euro –0.01 mill.). In Q2 2001, OnVista’s operating result stood at Euro –2.38 mill. In Q3, OnVista was thus able to meet its targets under difficult market conditions. In the 9 months period overall, the group result totalled Euro –6.50 mill. compared to Euro 0.05 mill. in the same period last year. EBITDA amounted to Euro –2.21 mill. (9 mths 00: Euro –0.06 mill.). EBIT totalled Euro –4.39 mill. (9 mths 2000: Euro –0.86 mill.). As a result of the cost cutting measures introduced in the summer, the company was already able to keep costs below budget. OnVista expects a more pronounced impact on results from Q4 2001. At the end of Q3 2001, the Group’s cash positions totalled Euro 26.66 mill. The Executive Board has reaffirmed its annual projections and expects to record Group sales of around Euro 13 mill. for fiscal 2001 as a whole (2000: Euro 8.24 mill.) and a deficit of around Euro 7 mill. (Group result 2000: Euro 0.31 mill.). OnVista expects to return to profitability in 2002.
9 months Group accounts under US GAAP
full Q3/2001 report