OnVista AG

euro adhoc: OnVista AG
Quarterly or Semiannual Financial Statements / Six months report 2003: Group sales match last yearÂ’s level / OnVista Media doubles profit
OnVista Technologies records sales and performance deficit
Distinctly positive group re

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In the first six months of 2003, OnVista generated group sales of Euro 5.59 mill., compared to Euro 5.60 mill. in the same period last year. Sales therefore remained almost unchanged (-0.2%). In the second quarter of 2003, group sales amounted to Euro 2.76 mill. This represents a fall of 2.7% compared to the same quarter last year (Q2/02: Euro 2.83 mill.).

According to plan, the after-tax group result in the first six months of 2003 was negative, totalling Euro -0.33 mill. (6 mths./02: Euro -0.28 mill.). The pre-tax group result (EBT) amounted to Euro -0.89 mill., compared to Euro -0.17 mill. in the same period last year. In the first six months of 2003, EBIT (Earnings Before Interest and Taxes) totalled Euro -1.55 mill. (6 mths./02: Euro -0.89 mill.). EBITDA (Earnings Before Interest and Taxes + Depreciation and Amortisation) equalled Euro -0.15 mill. (6 mths./02: Euro 0.31 mill.). In Q2/03, the OnVista Group recorded an after-tax result of Euro -0.33 mill. (Q2/02: ‘000 Euro 18) and a pre-tax result of Euro -0.66 mill. (Q2/02: Euro 0.11 mill.). EBIT amounted to Euro -0.97 mill. (Q2/02: Euro -0.29 mill.). EBITDA totalled Euro -0.21 mill. (Q2/02: Euro 0.31 mill.).

The stagnation in group sales and the negative group performance are due to the ongoing difficult demand situation in the Technologies business segment. In contrast, sales in the companyÂ’s second business segment, Media, increased distinctly. OnVista Media increased its total revenues in the first six months of 2003 by 19% to Euro 2.01 mill. (6 mths./02: Euro 1.69 mill.). The pre-tax result in the amount of Euro 0.35 mill. advanced markedly and exceeded the figures for the same period last year by 125% (6 mths./02: Euro 0.16 mill.). In the first six months of 2003, OnVista Technologies generated total revenues of Euro 4.11 mill. (6 mths./02: Euro 4.46 mill.). This represents a fall of 7.7%.  As a result of the sluggish revenues, the business segment recorded a pre-tax result of Euro -0.83 mill. (6 mths./02: Euro -0.24 mill.).

The consolidated cash flow was again positive and improved from Euro -0.01 mill. in 6 mths./02 to Euro 1.16 mill. in the period under review. The cash flow from operating activities amounted to Euro -0.17 mill. (6 mths./02: Euro 0.10 mill.). As at 30 June 2003, cash and cash equivalent positions of the OnVista Group totalled Euro 26.72 mill., compared to Euro 27.46 mill. as at 31 December 2002 (- 1.9%). The cash value per share stood at Euro 3.99 (31 Dec. 2002: Euro 4.10).

The Executive Board reaffirmed its annual projections for 2003. The pre-tax group result under US GAAP will be markedly positive. OnVista Media will increase its revenues (2002: Euro 3.51 mill.) in the region of upper single digit percent and will be profitable. The Executive Board does not anticipate any appreciable burden on OnVistaÂ’s performance from its 31.5% investment in IS.Teledata AG - the company arising from the merger between OnVista Technologies and IS Innovative Software. The extraordinary income from the release of hidden reserves in connection with the merger, which does not impact the companyÂ’s liquidity, will lead to an increase in performance.

Due to the imminent merger of OnVista Technologies GmbH and IS Innovative Software AG, the account of the first half of the year is not very meaningful in respect of future developments. OnVista Group has two strong mainstays, which from 2004 will both sustain to be profitable: the 100% subsidiary OnVista Media GmbH and the 31.5% investment in the strengthened IS.Teledata AG, which, thanks to its leading position in the market and synergy effects, will make a positive contribution to OnVistaÂ’s performance latest from 2004. Additionally there are the high cash holdings, which yield interest income and in future can be used to exploit strategic opportunities.

All figures group accounts under US GAAP; detailed press release: www.onvista-ag.de, under PressÂ’; full Q2/2003 report: www.onvista-ag.de, under 'Investor Relations'

end of announcement            euro adhoc 29.08.2003
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Further inquiry note: IR contact: Stefan Bohlmann, Tel.+49-2203/9146-220, ir@onvista.de; Press contact: Anja Seipp, Tel.-306, presse@onvista.de

Branche: Computing & Information Technology
ISIN:      DE0005461602
WKN:        546160
Index:    CDAX, Prime All Share, Prime Standard, Technologie All Share
Börsen:  Frankfurter Wertpapierbörse / regulated dealing
              Niedersächsische Börse zu Hannover / free trade
              Berliner Wertpapierbörse / free trade
              Bayerische Börse / free trade
              Hamburger Wertpapierbörse / free trade
              Bremer Wertpapierbörse (BWB) / free trade
              Börse DĂĽsseldorf / free trade
              Baden-WĂĽrttembergische Wertpapierbörse / free trade



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