14 August 2007 – OnVista AG (DE0005461602) recorded strong growth in sales and improved all profit categories by far overproportional to sales, both in the second quarter and in the first half year of 2007 overall.
In the first six months of 2007, group sales came in well over plan at EUR 11.30 mill. This equates to double the amount (+99%) recorded in the corresponding period of the previous year (6 mths./06: EUR 5.69 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 still grew by around 75% and consequently by far stronger than the market as a whole. In the second quarter 2007, sales amounted to EUR 6.44 mill. (Q2/06: EUR 2.94 mill.; +119%).
Since costs did not rise as strongly as sales, all performance figures improved substantially in the first half year and exceeded planning. In the first six months of 2007, EBITDA grew more than six-fold (+538%) to EUR 3.37 mill. (6 mths./06: EUR 0.53 mill.). EBIT amounted to EUR 2.90 mill. (6 mths./06: EUR 0.23 mill.; +1159%). The EBIT margin stood at 26% (6 mths./06: 4%).
As a result of the special distribution in January 2007 in the amount of well over EUR 25 mill. in particular, the financial result came in substantially lower than in the comparable period of the previous year as planned, due to the sharp reduction in liquid funds. However, the strong operating performance more than made up for this effect, so that the pre-tax group income rose by 291% to EUR 3.20 mill. (6 mths./06: EUR 0.82 mill.). In the period under review, the pre-tax profit to sales ratio reached 28% (6 mths./06: 14%). Below the line, the group net income in the first half year of 2007 totalled EUR 1.94 mill. This corresponds to an increase of 210% compared to the previous year (6 mths./06: EUR 0.63 mill.). Earnings per share stood at EUR 0.29 (6 mths./06: EUR 0.09).
Looked at the second quarter of 2007 in isolation, the operating results of the OnVista Group also developed very positively. EBITDA amounted to EUR 1.51 mill. (Q2/06: EUR 0.30 mill.; +396%). EBIT rose by 842% to EUR 1.26 mill. (Q2/06: EUR 0.13 mill.). The pre-tax group income reached EUR 1.40 mill. (Q2/06: EUR 0.42 mill.; +231%). The group net income totalled EUR 0.86 mill. (Q2/06: EUR 0.33 mill.; +163%).
As at 30 June 2007, the cash funds of the OnVista Group – after special distribution, dividend payment and corporate acquisition – amounted to EUR 9.29 mill. (31.12.2007: EUR 41.15 mill.).
As a result of the encouraging performance and the positive prospects, the Executive Board of OnVista AG is raising its projections for 2007 as a whole for the third time already. The board last raised the sales target mid-May in connection with the three months report to EUR 24.5 mill., and increased EBIT expectations to EUR 4.5 mill. and the anticipated EBT to EUR 4.8 mill. The board now expects annual sales in excess of EUR 26 mill. (prev. year: EUR 14.06 mill.; +85%), EBIT in excess of EUR 5 mill. (prev. year: EUR 1.53 mill.; +227%) and EBT in excess of EUR 5.4 mill. (prev. year: EUR 2.72 mill.; +100%).
Consolidated financial statements under IFRS
detailed press release in German language
full Q2/2007 report