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INTERSHOP COMMUNICATIONS AG (FRA:ISH2) Intershop publishes figures for Q1 2013

Directive transparence : information réglementée

08/05/2013 08:13
DGAP-News: Intershop Communications AG / Key word(s): Quarter Results Intershop publishes figures for Q1 2013 08.05.2013 / 08:13 --------------------------------------------------------------------- - Net revenues of EUR 12.2 million down 8% on previous year - Increased sales and marketing investments weighing on bottom line - Forecast for 2013 confirmed Jena, May 8, 2013 - Intershop Communications AG (ISIN: DE000A0EPUH1), a leading provider of integrated e-commerce solutions, generated net revenues of EUR 12.2 million in the first quarter of 2013. This represents an 8% decline compared to the prior year period, in which the company posted extraordinarily high consulting revenues. The decline in the traditionally weaker first quarter is also attributable to reduced licensing revenues, which amounted to EUR 0.7 million (2012: EUR 1.1 million). 'The licensing business is feeling fiercer competition, primarily for larger e-commerce contracts, and the extended decision-making process of potential clients. The growing trend towards software subscriptions (SaaS revenue model) instead of license purchases also leads to former 'standard license revenues' being spread over the term of the subscription period, thereby shifting the recognition of revenues into the future. We are confident, however, that our investments in sales and marketing will bear fruits in the upcoming quarters and will drive new customer business significantly. We, therefore, confirm our forecast of single-digit revenue growth and an almost break-even result for 2013,' says Ludwig Lutter, Chief Financial Officer of Intershop Communications AG. At EUR 6.8 million or approx. 56%, the Consulting segment again made the biggest contribution to net revenues in the first quarter of 2013. Maintenance revenues amounted to EUR 2.0 million, compared to EUR 2.2 million in the prior year period. Other revenues, which also include Full-Service revenues, increased by an impressive 35% to EUR 1.6 million. The Online Marketing segment also reported higher net revenues, which picked up by 9% to EUR 1.0 million. Gross profit for the first three months of 2013 dropped by 27% to EUR 3.4 million, which represents a gross margin of 28%. The reduced gross profit was attributable to lower licensing revenues, higher depreciation, declining consulting and support services. Operating expenses rose by 6% to EUR 5.2 million, which was mainly due to the 43% increase in sales and marketing expenses. EBIT and the net result amounted to EUR -1.7 million each (2012: EBIT and net result of EUR -0.2 million each). Earnings per share stood at EUR -0.06 compared to EUR 0.00 in the previous year (diluted and basic each). Intershop's consolidated balance sheet for the period ended 31 March 2013 again showed no financial liabilities as well as a high equity ratio of 67%, which exceeds the average equity ratio of the sector as a whole. Liquid funds were down by EUR 1.6 million on year-end 2012 to EUR 12.7 million on 31 March 2013. Intershop CEO Jochen Moll stated: 'As announced, we strongly expanded our international partner network in the first quarter, during which we were able to sign up Shinetech Software, a leading outsourcing provider in the Chinese e-commerce market, among other new partners. The cooperation strategy will expand our reach to win new clients. The latest example is our new project with Majestic Wine, the UK's largest wine retailer, which we have won together with our British partner, Javelin Group. Even if we remained slightly below our ambitious target in the first quarter, the significantly higher number of new clients shows that we are on the right track.' The interim report on the first three months of 2013 is available for download at http://www.intershop.com/investors-financial-reports. Contact: Investor Relations Heide Rausch Phone: +49-3641-50-1000 Fax: +49-3641-50-1001 ir@intershop.de End of Corporate News --------------------------------------------------------------------- 08.05.2013 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: Intershop Communications AG Intershop Tower 07740 Jena Germany Phone: +49 (0)3641-50-0 Fax: +49 (0)3641-50-1002 E-mail: ir@intershop.de Internet: www.intershop.de ISIN: DE000A0EPUH1, DE000A0C4ZE3 WKN: A0EPUH, A0C4ZE Indices: CDAX, PRIMEALL, TECHALLSHARE Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 210038 08.05.2013