Cologne/Germany, 22 March 2007.- OnVista AG (DE0005461602) was able to maintain its fast pace of growth also in the financial year 2006. According to the annual accounts approved by the Supervisory Board today, the company increased sales by 44% and achieved by far overproportional growth in all key performance figures. As a result, the annual projections which were raised only last November were clearly exceeded once more. For the coming years, the Executive Board expects the dynamic, profitable growth to continue. This is to be helped also by a strategic innovation offensive.
In the year under review, the OnVista Group generated group sales totalling EUR 14.06 mill. (prev. year: EUR 9.74 mill., +44%). As a result, the volume of business doubled in the course of just two years. The original sales forecast 2006 stood at 'more than EUR 12.5 mill.'.
Due to the effects of scale, the profit development was even more dynamic than the growth in sales. The group EBITDA increased by 64% to EUR 2.24 mill. (prev. year: EUR 1.36 mill.). EBIT rose by 84%, from EUR 0.83 mill. in the previous year to EUR 1.53 mill. The EBIT margin improved continuously over all four quarters and stood at 11% for the year as a whole (prev. year: 8.5%).
The pre-tax group income jumped by 70% from EUR 1.61 mill. to EUR 2.72 mill. The original projection for the pre-tax income stood at 'above EUR 2 mill.' and in November was raised to 'above EUR 2.3 mill.'. The pre-tax profit to sales ratio increased by 2 percentage points to 19%. The group net income turned strongly positive and amounts to EUR 1.58 mill. In the previous year, it was negative as a result of a one-time tax effect in connection with the sale of the IS.Teledata investment (EUR -0.49 mill.). The earnings per share also turned around accordingly from EUR -0.07 to EUR 0.24.
In the individual accounts for OnVista AG – relevant for the ability to pay dividends, the after-tax income and the accumulated income were also positive. The Executive Board and the Supervisory Board will therefore propose to the annual general meeting on 13 June in Cologne, to pay a dividend in the unchanged amount of EUR 0.10 per share. In January 2007, OnVista shareholders already received a special dividend payment from equity in the amount of EUR 3.75 per share.
As at 31.12.2006, the cash and cash equivalents of the OnVista Group amounted to EUR 41.15 mill. (31.12.2005: EUR 40.09 mill.). Even after the special distribution effected on 16 January 2007, the company still retained around EUR 16 mill. – sufficient to enable OnVista to finance both internal and external growth over the next few years.
Given the unchanged favourable market environment and due to the OnVista Group's good positioning, the Executive Board anticipates sales in excess of EUR 17.5 mill. in 2007 and EBIT totalling more than EUR 2.5 mill. OnVista plans to more than make up for the strongly declining interest income resulting from the special distribution through an excellent operating result, which leads the Executive Board to expect a pre-tax income of more than EUR 2.9 mill.
In the medium term, the ambitious growth target still stands, according to which the company aims to achieve 20-40% annual growth in sales and overproportional growth in profits up to the end of the decade. The realisation of these target figures is to be supported by a 3-prong innovation offensive. This includes further product developments in the existing business, inorganic expansion through acquisitions (for example additional portals) and new internet business concepts outside the Portal and Performance Marketing business.
Consolidated financial statements under IFRS
detailed press release in German language
full annual report 2006