OnVista AG

euro adhoc: OnVista AG
Annual Reports
Successful financial year 2003: Positive Group result with flagging sales
From 2004 sustained profitability (E)

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22 March 2004 - In the financial year 2003, OnVista AG (DE0005461602) produced a substantial net income for the year as predicted, while sales declined. Group sales totalled Euro 10.84 mill. (Euro 12.58 mill, -14%). OnVista generated a group pre-tax result in the amount of Euro 7.56 mill. (prev. year: Euro 0.15 mill.) and a group after-tax result of Euro 5.79 mill. (prev. year: Euro 2.45 mill., +136%). EBIT amounted to Euro -5.01 mill. (prev. year: Euro -1.19 mill.). EBITDA totalled Euro -1.24 mill. (prev. year: Euro 1.44 mill.).  

As a result of the merger related de-consolidation of OnVista Technologies GmbH as at 30 November 2003, a comparison with the previous year is, however, only partly meaningful. On the one hand, only sales generated in the first eleven months of 2003 in the Technologies business segment were included in consolidation, and on the other hand, the merger related release of hidden reserves resulted in non-cash income totalling Euro 12.06 mill., which is reflected in both the pre-tax and after-tax result.

The decline in group sales and the negative operating performance were solely attributable to the Technologies business segment. The Media business segment on the other hand, ended the year with substantial growth in sales and profit. OnVista Media increased its total revenues by more than Euro 1 mill. to Euro 4.52 mill. (prev. year: Euro 3.51 mill., +29%). The segment result rose by 50% and amounted to Euro 0.60 mill. (prev. year: Euro 0.40 mill.). The profit to sales ratio stood at 13%. In 2003, the Technologies business segment generated total revenues in the amount of Euro 7.26 mill. (prev. year: Euro 10.29 mill., -29%). In addition to the shorter period of consolidation, the difficult market climate was the decisive factor for the decline in revenues. As a result of the fall in revenues, the business segment recorded a negative EBIT of Euro -2.64 mill. (prev. year: Euro 0.63 milll.). However, the overall segment performance was distinctly positive - due to the aforementioned non-cash income - and totalled Euro 9.47 mill. (prev. year: Euro 0.63 mill.).

Earnings per share stood at Euro 0.86 (prev. year: Euro 0.37). The Executive Board and the Supervisory Board propose not to distribute a dividend.

For the financial year 2004, OnVista AG envisages group sales in excess of Euro 5 mill. (excluding sales generated in the Technologies business segment, since IS.Teledata AG is consolidated at equity). According to the Company's projections, the group pre-tax result will be positive, with a profit to sales ratio in double digit percentage points. EBIT as well as EBITDA will also improve markedly. Both operating business segments - Media and Technologies - are expected to make a positive contribution to profits. OnVista Media will continue to grow profitably. IS.Teledata AG too - in which OnVista AG now holds a 33.5% stake - will generate profits following the merger, as a result of its improved market position and the release of synergies.

All figures ex audited consolidated financial statements under US GAAP; detailed press release at: www.onvista-ag.de, section 'Press'

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

end of announcement            euro adhoc 22.03.2004
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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, presse@onvista.de E-Mail: anja.seipp@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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