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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)

  Disclosure announcement transmitted by euro adhoc.
  The issuer is responsible for the content of this announcement.
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

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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