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

INTERSHOP COMMUNICATIONS AKTIENGESELLSCHAFT

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Intershop Communications : reports positive result and keeps cloud business on growth track

10/22/2020 | 02:02am EST

DGAP-News: Intershop Communications AG / Key word(s): 9 Month figures
Intershop Communications AG reports positive result and keeps cloud business on growth track

22.10.2020 / 08:02
The issuer is solely responsible for the content of this announcement.


- EBIT at EUR 0.6 million in first nine months of 2020 (previous year: EUR -4.6 million)
- Total revenues climb 4% to EUR 24.3 million (previous year: EUR 23.4 million)
- Incoming orders for cloud solutions up 95% to EUR 11.3 million; cloud revenues increase by 14% to EUR 5.3 million
- Net New ARR rise by 24% to EUR 1.6 million

Jena, 22 October 2020 - Intershop Communications AG (ISIN: DE000A254211), a leading independent provider of innovative solutions for omnichannel commerce, increased its consolidated revenues by 4% on the prior year period to EUR 24.3 million in the first nine months of 2020 (previous year: EUR 23.4 million). Earnings before interest and taxes (EBIT) were slightly positive at EUR 0.6 million. Thanks to the reorganization completed last year, which has placed the focus on the cloud business, Intershop made a profitable start to fiscal year 2020 and remained in the profit zone throughout all quarters.

Cloud and subscription revenues rose by a total of 14% to EUR 5.3 million by the end of September (previous year: EUR 4.6 million). Incoming orders for cloud solutions (new and existing customers) amounted to EUR 11.3 million in the first nine months, which represents an increase by 95% (previous year: EUR 5.8 million). Cloud ARR (annual recurring revenues) rose by 30% to EUR 8.4 million (previous year: EUR 6.4 million). Net New ARR (New ARR less ARR for terminations and currency changes) improved by 24% to EUR 1.6 million (previous year: EUR 1.3 million). At EUR 2.7 million, license revenues increased sharply compared to the prior-year period (previous year: EUR 1.3 million). At EUR 6.0 million, maintenance revenues stayed at the prior year level. Only the service segment recorded a 10% decline in revenues to EUR 10.3 million (previous year: EUR 11.4 million). The decline was mainly due to project delays and postponements in the context of the COVID-19 pandemic.

Based on higher revenues and an adjusted cost structure, the gross margin improved by 12 percentage points to 45% in the period under review. Total operating expenses declined by 16% to EUR 10.4 million. Marketing and sales expenses fell by 15% to EUR 5.5 million. R&D expenses were reduced by 24% to EUR 2.7 million. Administrative expenses dropped by 11% to EUR 2.2 million. At the bottom line, earnings before interest and taxes (EBIT) came in at EUR 0.6 million (previous year: EUR -4,6 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) stood at EUR 3.2 million (previous year: EUR -1.5 million). Earnings after taxes amounted to EUR 0.4 million (previous year: EUR -4.8 million).

As of the interim reporting date (30 September 2020), the Group's total assets amounted to EUR 28.9 million, which represents a 5% increase on year end 2019 (31 December 2019: EUR 27.6 million). The equity ratio remained at a high level of 56% as of the end of September 2020 (31 December 2019: 57%). The company's non-current liabilities increased to EUR 3.1 million due to the issue of a bond with warrants. The proceeds are to be used for the further expansion of the cloud operations.

Cash and cash equivalents were up by 46% on year end 2019 to EUR 11.3 million. Cash flow from operations improved to EUR 3.4 million in the reporting period, compared to EUR -1.7 million in the previous year. As of the end of September 2020, Intershop employed a total of 298 full-time equivalents worldwide.

"We have seen dynamic growth in the cloud segment in particular in recent months, and our recurring revenues meanwhile represent more than one third of total revenues," said Dr. Jochen Wiechen, CEO of Intershop Communications AG. "This gives our business model greater stability and planning certainty. In view of our solid financial position, a well-filled new business pipeline and promising market prospects, we look forward to the fourth quarter with optimism."

Based on the positive nine-month results and the good current business situation, Intershop's management maintains its forecast for the fiscal year 2020 and continues to expect a slight increase in consolidated revenues. With gross profit and the gross margin to improve slightly, EBIT are expected to be slightly positive.

The interim report for the first nine months of 2020 is available at https://www.intershop.com/financial-reports.


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



22.10.2020 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
Leutragraben 1
07743 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: 1142369

 
End of News DGAP News Service

1142369  22.10.2020 

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© EQS 2020
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Sales 2020 32,7 M 39,8 M 39,8 M
Net income 2020 0,68 M 0,82 M 0,82 M
Net cash 2020 7,23 M 8,80 M 8,80 M
P/E ratio 2020 78,2x
Yield 2020 -
Capitalization 53,4 M 65,0 M 64,9 M
EV / Sales 2020 1,41x
EV / Sales 2021 1,29x
Nbr of Employees 298
Free-Float 99,5%
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INTERSHOP Communications Aktiengesellschaft Technical Analysis Chart | ISH2 | DE000A0EPUH1 | MarketScreener
Technical analysis trends INTERSHOP COMMUNICATIONS AKTIENGESELLSCHAFT
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TrendsBullishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 2
Average target price 3,68 €
Last Close Price 3,76 €
Spread / Highest target 6,38%
Spread / Average Target -2,26%
Spread / Lowest Target -10,9%
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
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