Log in
Show password
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 


SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

INTERSHOP Communications : continues profitable growth in the first half of 2021

07/22/2021 | 02:02am EDT

DGAP-News: Intershop Communications AG / Key word(s): Half Year Results
Intershop continues profitable growth in the first half of 2021

22.07.2021 / 08:00
The issuer is solely responsible for the content of this announcement.

- Total revenues climb 11% to EUR 18.3 million (previous year: EUR 16.5 million)
- Cloud revenues up 48% to EUR 5.1 million; incoming cloud orders rise by 31% to EUR 9.7 million
- Cloud ARR improve by 44% to EUR 10.8 million; Net New ARR double to EUR 1.5 million (previous year: EUR 0.7 million)
- Earnings before interest and taxes (EBIT) of EUR 1.0 million (previous year: EUR 0.5 million)

Jena, 22 July 2021 - Intershop Communications AG (ISIN: DE000A254211), a leading independent provider of innovative solutions for omnichannel commerce, increased its consolidated revenues by 11% to EUR 18.3 million in the first half of 2021. With earnings before interest and taxes (EBIT) of EUR 1.0 million (previous year: EUR 0.5 million), the company recorded profitable growth for the sixth consecutive quarter. The successful transformation focused on the cloud business with recurring revenues has made a significant contribution to stabilizing the company's success in the past months.

In the reporting period, cloud and subscription revenues increased by 48% to EUR 5.1 million. Incoming cloud orders (new and existing customers) amounted to EUR 9.7 million in the first six months of 2021, which represents an increase by 31% (previous year: EUR 7.4 million). Cloud ARR (Annual Recurring Revenues) were up 44% to EUR 10.8 million at the end of June 2021 (30 June 2020: EUR 7.5 million). Net New ARR doubled from EUR 0.7 million to EUR 1.5 million.

As a result of the modified business model, revenues from licenses and maintenance declined as expected by 20% to EUR 4.9 million. Service revenues continued to recover in the second quarter of 2021. Revenues thus climbed 20% to EUR 8.2 million (previous year: EUR 6.9 million).

The gross margin improved by another two percentage points to 47%. Operating expenses rose by 11% to EUR 7.6 million. This was mainly attributable to higher investments in the company's own cloud platform, which led to a 48% increase in research and development costs to EUR 2.7 million. Marketing and sales expenses were up 9% to EUR 3.9 million. Administrative expenses increased slightly from EUR 1.5 million to EUR 1.6 million. Earnings before interest and taxes (EBIT) amounted to EUR 1.0 million (previous year: EUR 0.5 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) stood at EUR 2.6 million (previous year: EUR 2.3 million). Net income for the period after taxes amounted to EUR 0.7 million (previous year: EUR 0.4 million).

At the interim balance sheet date of 30 June 2021, total assets of the Intershop Group amounted to EUR 39.0 million. Compared to the end of 2020, this represents an increase by 33%, which is mainly attributable to the capitalization of the right of use for the rental of the new office premises at the company headquarters in Jena pursuant to IFRS 16. As a result of the increase in total assets, the equity ratio declined from 56% to 44% at the interim balance sheet date. At EUR 11.6 million, cash and cash equivalents as of 30 June 2021 remained at the same level as at the end of 2020.

Markus Klahn, CEO of Intershop Communications AG: "In my new role as CEO, I am pleased to report a profitable first half of 2021 with high growth. The fact that we recorded a positive result for the sixth quarter in a row shows that the cloud transformation has been successful. Backed by a well-filled pipeline of new customers I am confident that we will achieve our targets for the fiscal year 2021 with the tailwind from the first two quarters."

The company continues to expect incoming cloud orders to rise by at least 10% and Net New ARR to pick up slightly in the full fiscal year 2021. Earnings before interest and taxes (EBIT) are projected to be slightly positive on moderately growing revenues.

The interim report for the first six months of 2021 is available at https://www.intershop.com/en/financial-reports.

Investor Relations contact:

ir@intershop.com, Phone: +49-3641-50-1000

22.07.2021 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
Steinweg 10
07743 Jena
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
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1220854

End of News DGAP News Service

1220854  22.07.2021 


© EQS 2021
10/21INTERSHOP Communications Aktiengesellschaft Reports Earnings Results for the Third Quar..
10/21INTERSHOP COMMUNICATIONS : Quarterly Statement Q1-Q3 2021
10/21PR 12ND OCT 2021, 10 : 15 CEST Intershop further expands in North America by entering a st..
10/21INTERSHOP COMMUNICATIONS : reports growing cloud business and continued profitable perform..
10/21INTERSHOP COMMUNICATIONS : reports growing cloud business and continued profitable perform..
10/21PRESS RELEASE : Intershop reports growing cloud business and continued profitable performa..
10/12INTERSHOP COMMUNICATIONS : further expands in North America by entering a strategic partne..
10/12PR 23ND SEP 2021, 09 : 00 CEST Quadient selects Intershop Commerce Platform to boost globa..
09/23INTERSHOP COMMUNICATIONS : Quadient selects Intershop Commerce Platform to boost global B2..
09/23PR 21ND SEP 2021, 11 : 08 CEST Orthopedic device company Breg Inc. introduces new B2B onli..
More news
Sales 2021 35,2 M 41,0 M 41,0 M
Net income 2021 1,20 M 1,40 M 1,40 M
Net cash 2021 10,7 M 12,5 M 12,5 M
P/E ratio 2021 61,8x
Yield 2021 -
Capitalization 70,1 M 81,6 M 81,6 M
EV / Sales 2021 1,69x
EV / Sales 2022 1,49x
Nbr of Employees 290
Free-Float 100%
Duration : Period :
INTERSHOP Communications Aktiengesellschaft Technical Analysis Chart | ISH2 | DE000A0EPUH1 | MarketScreener
Income Statement Evolution
Mean consensus BUY
Number of Analysts 2
Last Close Price 4,94 €
Average target price 5,95 €
Spread / Average Target 20,4%
EPS Revisions
Managers and Directors
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
1st jan.Capi. (M$)
SAP SE13.11%166 406
SERVICENOW, INC.24.75%136 049
DOCUSIGN, INC.23.59%54 044