Intershop achieves profitable growth in FY 2020 and clearly expands cloud business

  • Total revenues up 6% to EUR 33.6 million (previous year: EUR 31.6 million)
  • Cloud revenues climb 15% to EUR 7.3 million; incoming orders for cloud solutions rise by 20% to EUR 15.8 million
  • Net New ARR up 55% to EUR 2.6 million, Cloud ARR up 38% to EUR 9.3 million
  • Earnings before interest and taxes (EBIT) positive at EUR 1.0 million (previous year: EUR -6.5 million)

Jena, 17 February 2021 – Intershop Communications AG (ISIN: DE000A254211), a leading independent provider of innovative solutions for omnichannel commerce, increased its consolidated revenues by 6% to EUR 33.6 million in the financial year 2020. At EUR 9.3 million, fourth-quarter 2020 revenues reached the highest level in three years (Q4/2017). Earnings before interest and taxes (EBIT) were positive at EUR 1.0 million (2019: EUR -6.5 million), with Intershop recording a positive result in all four quarters of 2020.

Cloud and subscription revenues rose by 15% to EUR 7.3 million in the reporting period. In 2020 as a whole, incoming orders for cloud solutions (new and existing customers) amounted to EUR 15.8 million, which represents an increase by 20% (2019: EUR 13.1 million). Cloud ARR (annual recurring revenues) were up by 38% on the previous year to EUR 9.3 million (2019: EUR 6.8 million). Net New ARR climbed from EUR 1.6 million to EUR 2.6 million.

License revenues increased by 57% to EUR 4.2 million. Both new and existing customers opted for the Intershop license model, especially against the background of increased digital commerce as a result of the COVID-19 pandemic. At EUR 8.0 million, maintenance revenues remained almost unchanged from the previous year (2019: EUR 8.1 million). Service revenues declined by 3% in FY 2020 and stood at EUR 14.1 million (2019: EUR 14.5 million). While project delays and postponements caused by the coronavirus pandemic sent revenues in the services segment falling sharply especially in the second and third quarter, this decline was at least partially offset in the fourth quarter.

Intershop CEO Dr. Jochen Wiechen, who will hand over to COO Markus Klahn as planned at the end of the Annual General Meeting in May 2021, looks back: “Three years after the start of our ‘cloud first offensive’, we have overcome the associated temporary drop in revenues and are back on a profitable growth track. We are convinced that we have passed an important milestone and that Intershop is now well positioned for a successful future.”

In FY 2020, Intershop was able to grow its gross profit on revenues by 42% to EUR 15.7 million (2019: EUR 11.1 million). The gross margin picked up by an impressive 12 percentage points to 47% (2019: 35%). Operating expenses and income declined by 17% to EUR 14.6 million as a result of the cost-cutting program implemented at the end of 2019 and the measures introduced to mitigate the effects of the COVID-19 crisis. In this context, R&D expenses were reduced by 17% to EUR 3.8 million. Marketing and sales expenses also dropped by 12% to EUR 7.7 million. Administrative expenses declined by 8% to EUR 3.1 million. On balance, earnings before interest and taxes (EBIT) improved noticeably in the past fiscal year and reached EUR 1.0 million, with the EBIT margin at 3% (2019: EUR -6.5 million; -20%). Earnings before interest, taxes, depreciation and amortization (EBITDA) improved to EUR 4.5 million (2019: EUR -2.3 million). Earnings after taxes totaled EUR 0.8 million (2019: EUR -6.8 million).

As of 31 December 2020, the Intershop Group’s total assets amounted to EUR 29.4 million (+6%). Equity increased by 5% to EUR 16.5 million, while the equity ratio stood at 56% at the end of the year (31 December 2019: 57%). Cash and cash equivalents increased by 50% to EUR 11.6 million (31 December 2019: EUR 7.7 million). Cash flow from operations improved significantly to EUR 4.7 million in the reporting period, compared to EUR -1.8 million in the previous year. At the end of 2020, Intershop employed a total of 299 people worldwide (previous year: 314).

Markus Klahn, COO of Intershop Communications AG: “The current crisis will entail significant investments in digital commerce platforms, especially in the medium term. The task now is to seize the opportunity in marketing and sales and to continue growing the cloud business. Also, we will focus our organization even more strongly on lean, fast and intelligent processes this year. This way, we want to come a good deal closer to our vision of permanently establishing Intershop as the first choice for B2B eCommerce-as-a-Service solutions in 2021.”

On balance, Intershop expects an increase in incoming cloud orders of at least 10% as well as slightly higher Net New ARR for FY 2021. Earnings before interest and taxes (EBIT) are projected to be slightly positive on moderately growing revenues.

The full consolidated financial statements will be published in mid-March 2021. All financials in this press release are provisional, pending completion of the statutory audit.

Financial tables 2020

About Intershop

Intershop (founded in Germany 1992; Prime Standard: ISHA) enables the world’s leading manufacturers and wholesalers to digitalize, transform, and boost their businesses. Our e-commerce platform and cloud-based technology give B2B companies the power to establish and expand their digital presence, improve customer experience, and increase online revenue. With 30 years experience and a global presence, we help our 300+ clients turn products into profits, customers into business partners, and transactions into lasting relationships.

Intershop is built to boost your business. Learn more at


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.

Go back

Intershop Logo

Would you like to receive more information?

Stay up-to-date: Subscribe to our investor newsletter to receive the latest information about our company and Intershop shares.

Mercedes Zaremba
Mercedes Celine Zaremba Corporate Communications Manager Phone