Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Xetra  >  INTERSHOP Communications Aktiengesellschaft    ISH2   DE000A0EPUH1

INTERSHOP COMMUNICATIONS AKTIENGESELLSCHAFT

(ISH2)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector news

INTERSHOP Communications : completes cloud transformation in FY 2019 and generates slight revenue growth

02/19/2020 | 02:15am EST

DGAP-News: Intershop Communications AG / Key word(s): Annual Results
Intershop completes cloud transformation in FY 2019 and generates slight revenue growth

19.02.2020 / 08:10
The issuer is solely responsible for the content of this announcement.


- Cloud revenues up 18% to EUR 6.4 million, incoming cloud orders increase by 82% to EUR 13.1 million
- Total revenues of EUR 31.6 million (previous year: EUR 31.2 million)
- EBIT of EUR -6.5 million, including EUR 0.8 million in restructuring expenses (previous year: EUR -5.9 million)
- Forecast 2020: slight increase in consolidated sales and slightly positive EBIT

Jena, 19 February 2020 - Intershop Communications AG (ISIN: DE000A254211), a leading independent provider of innovative solutions for omnichannel commerce, increased its consolidated revenues by 1% to EUR 31.6 million in the financial year 2019 (previous year: EUR 31.2 million). Significant progress was made in the strategic transition from the license business to the cloud business. As the increase in revenues was not yet sufficient to compensate for the costs and revenue shifts from the cloud transformation, a negative operating result (EBIT) in the amount of EUR -6.5 million was posted (previous year: EUR -5.9 million). This includes EUR 0.8 million from restructuring expenses. Based on an adjustment of the cost structure carried out in the fourth quarter and the completion of the cloud transformation, the course for profitable growth in the current year has been set.

In the reporting period, cloud and subscription revenues increased from quarter to quarter totaling 18% to EUR 6.4 million (previous year: EUR 5.4 million). Incoming orders in the cloud segment increased by 82% to EUR 13.1 million (previous year: EUR 7.2 million). License revenues rose by 8% to EUR 2.6 million (previous year: EUR 2.4 million). At EUR 8.1 million, maintenance revenues were on a par with the previous year. Service revenues fell by 4% year-on-year to EUR 14.5 million (previous year: EUR 15.2 million).

Dr. Jochen Wiechen, CEO of Intershop Communications AG: "The transformation from a license company to a cloud company is a major undertaking. We have started it two years ago in order to make Intershop fit for the future. While we were not able to achieve our ambitious targets for 2019, the progress made clearly shows a positive trend. This gives us confidence. We believe that the transformation of our business model has now been virtually completed. The restructuring initiated last autumn will help us return to profitable growth based on recurring revenues in the current year."

Due to the overall growth momentum being still too low, the gross margin fell by 3 percentage points to 35% in the financial year 2019. Operating expenses declined by 2% to EUR 17.5 million. Marketing and sales expenses also fell by 9% to EUR 8.8 million. R&D expenses declined by 2% to EUR 4.6 million. Administrative expenses dropped by 4% to EUR 3.4 million. Earnings before interest and taxes (EBIT) amounted to EUR -6.5 million (previous year: EUR -5.9 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) stood at EUR -2.3 million (2019 without IFRS 16: EUR -4.0 million; 2018: EUR -3.7 million). The net loss for the period after taxes amounted to EUR -6.8 million (previous year: EUR -6.7 million).

The Intershop Group posted total assets of EUR 27.6 million as of 31 December 2019 (+22%). Equity rose by 15% to EUR 15.7 million, meaning that the equity ratio remained at a high level of 57% at the end of the year (31 December 2019 without IFRS 16: 61%; 31 December 2018: 60%). Cash and cash equivalents increased to EUR 7.7 million (previous year: EUR 7.2 million). Cash flow from operations improved to EUR -1.8 million in the reporting period, compared to EUR -4.1 million in the previous year. At the end of 2019, Intershop employed a total of 314 people worldwide.

Markus Klahn, COO of Intershop Communications AG: "In addition to the adjustment of the cost structure, we implemented various measures to ensure operational excellence in the marketing and sales departments at the end of 2019. Our aim is to generate leads more efficiently, to consistently focus on the B2B segment and to integrate our sales partners more closely. From a technological point of view, we have long held a leading position with our B2B solution. With the transformation to a cloud provider, we want to realize this also from an entrepreneurial perspective."

Intershop expects total consolidated revenues to increase slightly in the financial year 2020. With gross profit and the gross margin expected to improve slightly, EBIT are assumed to be slightly positive.

The full consolidated financial statements will be published in mid-March 2020. All financials in this press release are provisional, pending completion of the statutory audit.


Contact:
Investor Relations
Heide Rausch
T: +49-3641-50-1000
F: +49-3641-50-1309
ir@intershop.com



19.02.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de


Language: English
Company: Intershop Communications AG
Intershop Tower
07740 Jena
Germany
Phone: +49 (0)3641-50-0
Fax: +49 (0)3641-50-1309
E-mail: ir@intershop.de
Internet: www.intershop.de
ISIN: DE000A254211
WKN: A25421
Indices: CDAX, PRIMEALL, TECHALLSHARE
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 978485

 
End of News DGAP News Service

978485  19.02.2020 

fncls.ssp?fn=show_t_gif&application_id=978485&application_name=news&site_id=zonebourse

© EQS 2020
All news about INTERSHOP COMMUNICATIONS AKTIENGESELLSCHAFT
01/12INTERSHOP COMMUNICATIONS : Management change at Intershop Communications AG
PU
01/12INTERSHOP COMMUNICATIONS : Management change at Intershop Communications AG
EQ
2020INTERSHOP COMMUNICATIONS : reports positive result and keeps cloud business on g..
EQ
2020INTERSHOP COMMUNICATIONS AG : Notification and public disclosure of transactions..
EQ
2020INTERSHOP COMMUNICATIONS : resolves to issue a bond with warrants
PU
2020INTERSHOP COMMUNICATIONS : resolves to issue a bond with warrants
EQ
2020INTERSHOP COMMUNICATIONS : reports revenue growth and profit for first half of 2..
EQ
2020INTERSHOP COMMUNICATIONS AG : Preliminary announcement of the publication of fin..
EQ
2020INTERSHOP COMMUNICATIONS : further expands its cloud business and returns to pro..
EQ
2020INTERSHOP COMMUNICATIONS AG : Notification and public disclosure of transactions..
EQ
More news
Financials
Sales 2020 32,7 M 39,6 M 39,6 M
Net income 2020 0,68 M 0,82 M 0,82 M
Net cash 2020 7,23 M 8,74 M 8,74 M
P/E ratio 2020 79,0x
Yield 2020 -
Capitalization 53,9 M 65,2 M 65,2 M
EV / Sales 2020 1,43x
EV / Sales 2021 1,31x
Nbr of Employees 298
Free-Float 99,5%
Chart INTERSHOP COMMUNICATIONS AKTIENGESELLSCHAFT
Duration : Period :
INTERSHOP Communications Aktiengesellschaft Technical Analysis Chart | ISH2 | DE000A0EPUH1 | MarketScreener
Technical analysis trends INTERSHOP COMMUNICATIONS AKTIENGESELLSCHAFT
Short TermMid-TermLong Term
TrendsBullishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 2
Average target price 3,68 €
Last Close Price 3,80 €
Spread / Highest target 5,26%
Spread / Average Target -3,29%
Spread / Lowest Target -11,8%
EPS Revisions
Managers and Directors
NameTitle
Jochen Wiechen Chief Executive Officer
Christian Oecking Chairman-Supervisory Board
Markus Klahn Chief Operating Officer
Louis Velthuis Member-Supervisory Board
Ulrich Praedel Vice Chairman-Supervisory Board
Sector and Competitors