OnVista AG

euro adhoc: OnVista AG
Quarterly or Semiannual Financial Statements / 9 months report 2003: Group sales on slight decline/ Distinctly positive group performance 2003 predicted (E)

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10 Nov. 2003 - In the first 9 months of 2003, OnVista generated Group sales under US GAAP of Euro 8.23 mill., compared to Euro 8.58 mill. in the same period last year. Sales were therefore on a slight decline (-4.0%). In relation to Q3 of 2003, group sales totalled Euro 2.64 mill. This represents a fall of 11% compared to the same quarter last year (Q3/02: Euro 2.97 mill.).

In the first 9 months of 2003, the company recorded a negative group after-tax result of Euro -1.26 mill. (9 mths. 2002: Euro -0.25 mill.). The pre-tax group result (EBT) totalled Euro -2.20 mill. (9 mths 2002: '000 Euro -24). In the 9 months period of 2003, EBIT amounted to Euro -3.04 mill. (9 mths. 2002: Euro -1.11 mill.). EBITDA totalled Euro -0.93 mill. (9 mths. 2002: Euro 0.77 mill.). In relation to Q3 of 2003, OnVista generated a group after-tax result of Euro -0.94 mill. (Q3/02: '000 Euro 29) and a pre-tax result of Euro -1.31 mill. (Q3/02: Euro 0.15 mill.). In Q3 of 2003, EBIT amounted to Euro -1.49 mill. (Q3/02: Euro -0.22 mill.). EBITDA totalled Euro -0.78 mill. (Q3/02: Euro 0.46 mill.).

The decline in sales and the deficit in the consolidated financial statements arise from the ongoing difficult demand situation in the Technologies business segment. In contrast, the second business segment, Media, recorded a marked increase in sales as well as the operating result. OnVista Media increased its total revenues by 18% to Euro 2.99 mill. (9 mths. 2002: Euro 2.53 mill.). The pre-tax result showed a noticeable surplus, amounting to Euro 0.42 mill. , which represents a 65% increase over the same period last year (9 mths. 2002: Euro 0.26 mill.). In the first 9 months of 2003, OnVista Technologies generated total revenues in the amount of Euro 6.00 mill. (9 mths. 2002: Euro 6.82 mill.). This represents a fall of 12%. Due to the decline in revenues and as a result of provisions for merger related restructuring expenditure, the Technologies business segment recorded a pre-tax result of Euro -1.79 mill. (9 mths. 2002: Euro -0.13 mill.).

In the period under review, the consolidated cash flow amounted to Euro 1.38 mill. (9 mths. 2002: Euro 0.81 mill.). As a result of OnVista’s active management of accounts receivable, the company also recorded a positive cash flow from operating activities in the first 9 months of 2003 totalling Euro 0.38 mill. (9 mths. 2002: Euro 0.80 mill.). As at 30 September 2003, cash and cash equivalent positions of the OnVista Group amounted to Euro 26.93 mill., compared to Euro 27.46 mill. as at 31 Dec. 2002 (-1.9%). The cash value per share stood at Euro 4.02 (31.12.2002: Euro 4.10).

The Executive Board reaffirms its annual projections for 2003: Despite the negative 9 months performance, OnVista expects to record a distinctly positive Group pre-tax result under US GAAP for the financial year 2003 as a whole. In addition to a positive result by OnVista Media, extraordinary income not affecting the company’s liquidity is to contribute to the result. The income will be created through the release of hidden reserves in connection with the merger between OnVista Technologies and IS Innovative Software.

All figures group accounts under US GAAP; detailed press release: www.onvista-ag.de, under 'Press'; full Q3/2003 report: www.onvista-ag.de, under 'Investor Relations'

IR contact: Stefan Bohlmann, Tel.+49-2203/9146-220, ir@onvista.de; Press contact: Anja Seipp, Tel.+49-2203/9146-306 or +49-160/8029981, presse@onvista.de

end of announcement            euro adhoc 10.11.2003
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Further inquiry note: IR contact: Stefan Bohlmann, Tel.+49-2203/9146-220, ir@onvista.de; Press contact: Anja Seipp, Tel.+49-2203/9146-306 or +49-160/8029981, 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 Düsseldorf / free trade
              Baden-Württembergische Wertpapierbörse / free trade



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