SinnerSchrader AG

EANS-News: SinnerSchrader AG
SinnerSchrader grows by 32 per cent in first nine months of 2010/2011
Operating result doubles
Growth strategy confirmed


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quarterly report/3rd Group Quarterly Financial Report 2010/2011


Hamburg, 14 July 2011 (euro adhoc) - SinnerSchrader ended the first nine months
of the 2010/2011 financial year (1 September 2010 to 31 May 2011) with net
revenue of EUR 22.6 million. Net revenue rose by 31.9 per cent compared to the
same period in the previous year. It amounted to EUR 7.8 million in the third
quarter and was thus 32.6 per cent higher than in the third quarter of
2009/2010. The revenue of the first and second quarters was surpassed by 1.2 per
cent and 9.0 per cent respectively.

This revenue development documents SinnerSchrader´s growth-oriented strategy
for the 2010/2011 financial year. SinnerSchrader launched several new business
initiatives in the first half of the year, and it expanded its service
portfolio towards the end of the third quarter with an eye to the growing
importance of mobile devices for digital marketing by taking over TIC-mobile
GmbH in Berlin. The latest subsidiary of the SinnerSchrader Group, now named
SinnerSchrader Mobile GmbH, will begin contributing to the Group´s growth in
the next quarter through mobile applications, e.g., for simfy, Germany´s
leading provider of streaming music services.

This extremely dynamic growth was the result of both the expansion of the
service portfolio and the success in acquiring new clients. In the quarter of
the report, the SinnerSchrader agency implemented its first project for the
Bauer Media Group: a subscription portal which SinnerSchrader will also be
responsible for maintaining. Haasenstein, the creative agency established in
February, completed its first project in the third quarter by launching an
extensive campaign for TUIfly.com.

The revenue growth had a positive effect on the development of the operating
result (EBITA) and also of net income. In the first nine months, EBITA nearly
doubled from EUR 1.05 million in the comparable period of the previous year to
EUR 2.0 million in the current year. Net income grew at an even higher rate in
the first nine months, totalling EUR 1.1 million or EUR 0.10 per share and thus
already reaching the value of the previous year as a whole.

As expected, however, the costs and start-up losses involved in expanding the
business caused income to develop much more slowly in the third quarter. EBITA
improved slightly to EUR 0.3 million compared to the same quarter in the
previous year (EUR 0.25 million) but remained considerably below the level of
the first two quarters. Net income in the third quarter amounted to EUR 0.1
million.

SinnerSchrader´s forecast following the end of the first half-year has
therefore been confirmed: net income for the year as a whole will be more than
25 per cent higher than in the previous year, but the growth of the operating
result will probably not surpass the current expected corridor of between 15
and 20 per cent.

Investments in the expansion of the SinnerSchrader Group and the higher amount
of funds tied up in working capital, together with the dividend payment in
December, caused the amount of liquid funds to decrease compared to 31 August
2010 by EUR 2.5 million to EUR 5.8 million. The equity ratio was 54.3 per cent
as of the report date. On 31 May 2011, the SinnerSchrader Group had 396
employees.

The quarterly financial report will be available in the Internet from 3 p.m.
today at www.wkn514190.de/s2ir/de/Finanzberichte.html.

Contact for press and public relations

Benjamin Nickel
Head of Corporate Communications
presse@sinnerschrader.com

Contact for shareholder information

Thomas Dyckhoff
CFO
ir@sinnerschrader.com

SinnerSchrader Aktiengesellschaft
Völckersstr. 38
D-22765 Hamburg
T. +49. 40. 39 88 55-0
F. +49. 40. 39 88 55-55


Further inquiry note:
Thomas Dyckhoff
CFO
Telefon: +49(0)40 398855-113
E-Mail: t.dyckhoff@sinnerschrader.de

end of announcement                               euro adhoc 
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company:     SinnerSchrader AG
             Völckersstraße 38
             D-22765 Hamburg
phone:       +49(0)40-398855-0
FAX:         +49(0)40-398855-55
mail:     info@sinnerschrader.de
WWW:      http://www.sinner-schrader.de
sector:      Software
ISIN:        DE0005141907
indexes:     CDAX, Prime All Share, Technology All Share
stockmarkets: regulated dealing/prime standard: Frankfurt, free trade: Berlin,
             Hamburg, Stuttgart, Düsseldorf, München 
language:   English
 

 

 



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