Intershop Communications AG | Press Release |

Intershop continues unerringly on its growth path

  • Net revenues increase by 33% to EUR 35.6 million
  • EBIT up 35%, net gain soars by 89%
  • Revenue forecast 2011 raised

Jena, November 9, 2011 - Intershop Communications AG (ISIN: DE000A0EPUH1), supplier of integrated e-commerce solutions, is continuing on its profitable growth path that it started on back in 2008. Today’s published figures for the first nine months of 2011 confirm this trend.

Net revenues increased from EUR 26.7 million in the previous year to EUR 35.6 million in the reporting period. All segments contributed to this growth. Important new projects with existing major customers (platinum accounts) and numerous new customers formed the basis for this positive operational performance.

License revenues came to EUR 3.1 million, corresponding to a steep rise of 69%. Consultancy and training, the largest segment in terms of net revenues, grew by 38% to EUR 20.1 million. Maintenance revenues went up by 6% to EUR 7.5 million and online marketing revenues by 34% to EUR 2.5 million. Other revenues (full service business and transaction platform) also developed positively, soaring by 75% to EUR 2.4 million.

Gross profit for the first nine months of the year increased by 37% to EUR 14.2 million, corresponding to an improved gross margin of 40%. The result from operating activities (EBIT) came to EUR 1.5 million (+35%) and the EBIT margin stayed at the same level as in the previous year at 4.0%. Earnings after tax for the period shot up by 89% to EUR 1.9 million and earnings per share doubled from EUR 0.03 to EUR 0.06. Intershop’s cash flows from operating activities were also positive at EUR 2.5 million.

Expenses in the first nine months increased mainly due to increases in staff and and investements in product development. Research and development (R&D) expenses went up by 65% to EUR 4.1 million. The sales and marketing segment was expanded, particularly with new international sales partnerships, which resulted in a rise in expenses by 57% to EUR 4.5 million. General and administrative expenses rose only slightly by 8% to EUR 4.2 million despite business increasing considerably.

Total assets increased from EUR 36.2 million at the end of 2010 to EUR 40.1 million as of September 30, 2011. At 68%, the equity ratio remained at a high level. Cash rose to EUR 16.9 million compared to EUR 16.4 million on December 31, 2010.

Ludwig Lutter, CFO: “Our speed of growth is on track, our business performance is encouraging and our balance sheet is very strong. The most important tasks in the coming months will be to fully integrate our many new colleagues and to continue to develop the new Intershop platform within the new E-Commerce Alliance.”

In the third quarter, Intershop received the largest order by far in its company history from the new strategic partner, a global technology company. This order is intended to generate revenues in the medium two-digit million EURO range over the next 10 years. This global IT company is joining the eCommerce alliance initiated by Intershop. Other new customers in the reporting period include the TV shopping Channel21, the leading Russian online book retailer Mir Knigi, and the US shoe and clothing manufacturer Red Wing Shoes.

In the light of the strong past third quarter and the progress of the current quarter, the Management Board has raised its revenue forecast for fiscal 2011 from 10% – 20% to 20% – 25%. The EBIT for fiscal 2011 is still expected to come out at a level similar to 2010.

The 9-Month-Report 2011 can be downloaded at http://www.intershop.com/investors-financial-reports.html.

Contact:

Investor Relations
Heide Rausch
Phone: +49-3641-50-1000
Fax: +49-3641-50-1010
ir@intershop.com

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About Intershop

Intershop Communications AG (founded in Germany 1992; Prime Standard: ISH2) is the leading independent provider of omni-channel commerce solutions. Intershop offers high-performance packaged software for internet sales, complemented by all necessary services. Intershop also acts as a business process outsourcing provider, covering all aspects of online retailing up to fulfillment. Around the globe more than 300 enterprise customers, including HP, BMW, Würth, and Deutsche Telekom run Intershop solutions. Intershop is headquartered in Jena, Germany, and has offices in the United States, Europe, Australia, and China. More information about Intershop can be found online at www.intershop.com.

This news release contains forward-looking statements regarding future events or the future financial and operational performance of Intershop. Actual events or performance may differ materially from those contained or implied in such forward-looking statements. Risks and uncertainties that could lead to such difference could include, among other things: Intershop's limited operating history, the unpredictability of future revenues and expenses and potential fluctuations in revenues and operating results, significant dependence on large single customer deals, consumer trends, the level of competition, seasonality, risks related to electronic security, possible governmental regulation, and general economic conditions.

Intershop Public Relations

Heide Rausch

Head of Corporate Communication

Phone: +49 3641 50-1000
Fax: +49 3641 50-1309