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OnVista AG

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

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

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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