SinnerSchrader AG

EANS-News: SinnerSchrader AG
SinnerSchrader grows by 18 per cent in the first nine months of 2011/2012
Predicted profit adjusted following spot-media losses


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9-month report


Hamburg, 12 July 2012 (euro adhoc) - In the third financial quarter of 
2011/2012 (1 March 2012 to 31 May 2012), SinnerSchrader earned net revenue in
the amount of 8.4 million euros, which corresponds to growth of 7.6 per cent in
comparison to the previous year. The slowdown in growth dynamics has thus been
unexpectedly sharp in comparison to the two preceding quarters, in each of which
growth rates of more than 20 per cent were generated. Net revenue reached a
total of 26.7 million euros in the first nine months of the current financial
year, which is an increase of 18.3 per cent over the corresponding period of the
previous year.

As already reported on 19 June 2012, a substantial reason for the slowdown in
the third quarter was the considerable reduction in orders from two major
clients of the spot-media Group. The resulting loss in revenue against plans,
in the amount of around 0.6 million euros, was not offset by revenue generated
by any of the other Group units.

SinnerSchrader believes that developments at spot-media are not an indication
of a general weakening of dynamics in the market for digital marketing. The
company opened an office in Munich in May 2012 in order to intensify customer
support for its customer Allianz and to be able to better meet demand in
southern Germany. With its adserving services in the Interactive Media segment,
SinnerSchrader gained Bigpoint, one of the largest suppliers of online games in
the world, as a customer, and launched a product initiative in audience
management aimed at advertisers. Furthermore, SinnerSchrader Mobile GmbH
reached the break-even point on the basis of the acquisition of important new
customers in the quarter of the report.

However, for the SinnerSchrader Group, the spot-media revenue losses in the
third quarter of 2011/2012 resulted in an operating loss (EBITA) of
0.06 million euros and in net income of minus 0.2 million euros or minus
0.02 euros per share. For the nine-month period, EBITA was at 1.0 million euros
and net revenue at 0.2 million euros or 0.02 euros per share.

Based on the revenue development in the third quarter, which is deemed not to
be temporary, spot-media implemented restructuring measures as early as June
2012 in order to adjust its capacity by around 20 per cent. Furthermore, the
plan is to merge the two units specialising in e-commerce services in the
SinnerSchrader Group - spot-media AG and next commerce GmbH - in order to pool
their expertise and effectiveness.

Seen the developments in the quarter of the report, the original profit
prediction for the 2011/2012 financial year can no longer be upheld, as already
announced on 19 June 2012. Taking into account the costs for restructuring
measures, SinnerSchrader now presumes that EBITA for the 2011/2012 financial
year will be in the range of 1.3 to 2.0 million euros and that net income will
be positive. Revenue is expected to exceed the forecast for the year at the
amount of 35.5 million euros.

The operating cash flow in the current financial year continued to grow in the
third quarter by 0.2 million euros, to 1.7 million euros. The liquidity reserve
at the end of the reporting period on 31 May 2012 amounted to 5.2 million
euros, just 0.1 million euros below the figure at the end of the second quarter
of 2011/2012 , and 0.6 million euros below the amount as at 31 August 2011.

The shareholders' equity ratio on 31 May 2012, at 58.8 per cent, just fell
short of the 59.4 per cent equity rate on 31 August 2011. At the end of the
quarter of the report, there were 431 employees in the SinnerSchrader Group,
i.e. 31 more than on 31 August 2011.

At its meeting on 10 July 2012, the Supervisory Board of SinnerSchrader AG
approved the proposal brought forward by the Management Board concerning a
resumption of the share buy-back programme up until 31 December 2012.

The complete quarterly report can be downloaded from the Internet at
www.sinnerschrader.ag/s2ir/de/Finanzberichte.html as of 4 p.m. today.

About SinnerSchrader

SinnerSchrader is one of the leading digital agencies in Europe. SinnerSchrader
develops interactive strategies, platforms, and applications which create
radical relationships between consumers and brands. The SinnerSchrader Group
has over 400 employees in Hamburg, Frankfurt am Main, Berlin, Hanover, and
Munich who work for customers such as Allianz, TUI, Tchibo, simyo, REWE,
comdirect bank, PPR Group, OTTO, and Steigenberger. SinnerSchrader was founded
in 1996 and has been quoted on the stock exchange since 1999.



Contact

SinnerSchrader Aktiengesellschaft
Thomas Dyckhoff, Finance Director
T. +49. 40. 39 88 55-0

Benjamin Nickel, Head of Corporate Communications
T. +49. 40. 39 88 55-542

E-mail: ir@sinnerschrader.de
F. +49. 40. 39 88 55-100


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: free trade: Berlin, München, Hamburg, Düsseldorf, Stuttgart,
             regulated dealing/prime standard: Frankfurt 
language:   English
 

 

 



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