14 November 2007 – In the first nine months of 2007, OnVista AG (DE0005461602) achieved a three digit percentage increase in both sales and operating profit. All other key performance figures also show high growth rates. The projections for the year as a whole have been confirmed.
In the first three quarters of 2007, group sales amounted to EUR 18.34 mill. This corresponds to an increase of 105% compared to the relevant period in the previous year (9 mths./06: EUR 8.93 mill.). Ad2Net GmbH, which was acquired in March, has been consolidated in the group since the second quarter. Even not taking into account the sales of the acquired company, the OnVista Group grew by around 70% and consequently markedly stronger than the market as a whole. Looked at in isolation, sales in the third quarter totalled EUR 7.04 mill. (9 mths./06: EUR 3.24 mill.; +117%.).
The earnings position also improved markedly in the first nine months, since costs did not increase as strongly as sales. EBITDA rose by 345% to EUR 4.44 mill. (9 mths./06: EUR 1.00 mill.). EBIT grew by 598% to EUR 3.63 mill. (9 mths./06: EUR 0.52 mill.). The EBIT margin stood at 20% (9 mths./06: 5.8%).
As planned, the financial result came in substantially lower than the year before, as a result of the special distribution in January 2007 in the amount of well over EUR 25 mill. in particular. However, the strong operating performance more than made up for this effect, so that the pre-tax group income rose by 180% to EUR 4.02 mill. (9 mths./06: EUR 1.43 mill.). The pre-tax profit to sales ratio reached 22% (9 mths./06: 16%). Below the line, the group net income amounted to EUR 1.75 mill. (9 mths./06: EUR 0.96 mill.). Due to one-off tax effects (tax payments for prior periods and restatement of deferred taxes from 2008 as a result of corporate tax reforms) this performance category with an increase of 82% is the only one to rise underproportional to sales, and in the third quarter looked at in isolation, the group net income was negative at EUR -0.19 mill. (Q3/06: EUR 0.33 mill.; -157%).
Other key performance figures for the third quarter of 2007: EBITDA +159% to EUR 1.07 mill. (Q3/06: EUR 0.41 mill.), EBIT +150% to EUR 0.72 mill. (Q3/06: EUR 0.29 mill.) and EBT +32% to EUR 0.81 mill. (Q3/06: € 0.61 mill.).
As at 30 September 2007, the cash funds of the OnVista Group – after the special distribution, the regular dividend payment and the acquisition of Ad2Net – amounted to EUR 10.23 mill. (31.12.2006: EUR 41.15 mill.; -75%). The operating cash flow totals EUR 1.74 mill. (9 mths./06: € 1.07 mill.; +62%).
As a result of the positive business performance to date and the expectation that the turbulence in the financial markets will continue to not negatively impact business in the fourth quarter, the Executive Board has confirmed its projections for 2007 as a whole, last updated mid-August. The board anticipates sales in excess of EUR 26 mill. (prev. year: EUR 14.06 mill.; +85%), an operating performance (EBIT) in excess of EUR 5 mill. (prev. year: EUR 1.53 mill.; +227%) and a pre-tax group income (EBT) of more than EUR 5.4 mill. (prev. year: EUR 2.72 mill.; +100%).
Consolidated financial statements under IFRS
detailed press release in German language
full Q3/2007 report