Cologne/Germany, May 15, 2006.- OnVista AG (DE0005461602) exceeded its own expectations in the first quarter of 2006. The company also recorded strong growth and advanced its net income overproportional to sales.
In the first three months of 2006, group sales amounted to Euro 2.75 mill. This corresponds to an increase of 37% compared to the same period last year (Q1/05: Euro 2.00 mill.).
Since costs grew less strongly than sales, all key performance figures improved markedly in the period under review and were positive.
In the first quarter of 2006, EBITDA almost trebled (+178%) to Euro 0.23 mill. (Q1/05: '000 Euro 81). In the first quarter of 2006, EBIT totalled '000 Euro 97. In the same quarter last year, EBIT was still negative at '000 Euro -30.
Following the sale of the 36% investment in IS.Teledata AG in December 2005, this previously at equity reported company no longer contributes to group profits. Nevertheless, OnVista AG increased its pre-tax group result by 31% to Euro 0.40 mill. (Q1/05: Euro 0.30 mill.). In the period under review, the pre-tax to profit ratio came to 14% (Q1/05: 15%). Below the line, the group net income totalled Euro 0.30 mill. in the first quarter of 2006. This corresponds to a rise of 45% compared to the figures for the relevant period last year (Q1/05: Euro 0.21 mill.).
As at 31 March 2006, the liquid funds of the OnVista Group amounted to Euro 38.73 mill. (31.12.2005: Euro 40.09 mill.). The cash value per share stood at Euro 5.78 (31.12.2005: Euro 5.98). The decrease in liquid funds despite the positive business trend is due mainly to the reduction of trade accounts payable, bonus payments and investments in treasury stock for servicing stock options. In the year 2006 as a whole, OnVista anticipates a marked inflow of cash funds from its operating business.
The Executive Board reaffirms its annual projections: For the year 2006 as a whole, the OnVista Group expects sales to rise by more than 25% to around Euro 12.5 mill. (2005: Euro 9.74 mill.) as well as overproportional growth in profits: The pre-tax group result is to increase by around 35% to more than Euro 2 mill. (2005: Euro 1.61 mill.).
Consolidated financial statements under IFRS
detailed press release in German language
full Q1/2006 report