10 May 2007 – In the first quarter of 2007, OnVista AG (DE0005461602) again exceeded its own expectations: the Internet company recorded strong growth and improed all performance categories by far overproportionally to sales.
Group sales in the first 3 months of 2007 totalled EUR 4.86 mill., 77% above the figure for the corresponding period in the previous year (Q1/06: EUR 2.75 mill.). The online advertising sales company Ad2Net AG, Cologne, acquired at the end of March, has not yet been taken into account and will be consolidated in the OnVista Group only from 1 April onwards.
Since costs did not rise as strongly as sales, all performance figures improved substantially in the period under review. In the first quarter of 2007, EBITDA grew eightfold (+729%) to EUR 1.87 mill. (Q1/06: EUR 0.23 mill.). EBIT amounted to EUR 1.65 mill., compared to EUR 0.10 mill. in the same quarter last year (+1,594%). The EBIT margin stood at 34% (Q1/06: 3.5%).
After the special distribution of well over EUR 25 mill. in January 2007, the financial result roughly halved as a result of the sharp reduction in liquid funds. However, the strong operating performance more than made up for this diminution effect, so that the pre-tax group income rose by 355% to EUR 1.80 mill. (Q1/06: EUR 0.40 mill.). The pre-tax profit to sales ratio climbed to 37% (Q1/06: 14%). Below the line, the group net income in the first quarter of 2007 totalled EUR 1.08 mill., 261% over the previous year (Q1/06: EUR 0.30 mill.).
As at 31 March 2007, the cash funds of the OnVista Group amounted to EUR 12.81 mill., compared to EUR 41.15 mill. as at 31 December 2006. The decrease of EUR 28.34 mill. (-69%) results from the special distribution and the acquisition of the Cologne based online advertising sales company Ad2Net AG. The operating cash flow was positive at EUR 1.36 mill., in contrast to Q1/06 (EUR -0.75 mill.). The cash value per share totalled EUR 1.91 (31.12.2006: EUR 6.14).
As a result of this performance, the Executive Board is raising its projections for 2007 as a whole for the second time already. Taking into account the newly acquired Ad2Net AG and the evident very positive business trend in general, the board last raised the sales target mid-April to around EUR 24 mill. (increase of well over 70% compared to 2006), the anticipated EBIT to EUR 3 mill. and the anticipated EBT to EUR 3.3 mill. Since the quarterly result has already exceeded EBIT for 2006 as a whole and well over half of the annual expectation for 2007 has already been achieved, the EBIT forecast, given a slightly higher sales expectation (EUR 24.5 mill.), is being raised again to circa EUR 4.5 mill. (prev. year: EUR 1.53 mill.), as a result of strong economies of scale. The Executive Board now expects a pre-tax group result of EUR 4.8 mill. (prev. year: EUR 2.72 mill.). This corresponds to rates of increase of well over 180% and respectively 75% compared to 2006.
Consolidated financial statements under IFRS
detailed press release in German language
full Q1/2007 report