Jena, Germany, December 20, 2019 - Intershop Communications AG (ISIN: DE000A0EPUH1), a leading independent vendor of innovative solutions for omni-channel commerce, today presented the measures it has taken to achieve profitable revenue growth at its Extraordinary Stockholders' Meeting. These measures include a cost-cutting program, measures of operational excellence and a simplified capital reduction at a ratio of 3:1, which was the subject of today's vote. Overall, the Management Board reaffirmed its strategy of cloud transformation with the aim of becoming the leading provider of digital B2B commerce platforms for SMEs.
Dr. Jochen Wiechen, CEO of Intershop Communications AG, said: "Although we made good progress in the past fiscal year in terms of cloud transformation, we did not achieve our ambitious goals. We are planning cautiously for the coming fiscal year, but are convinced that the restructuring activities will enable us to achieve profitable revenue growth".
Markus Klahn, member of the Management Board and COO of the company, adds: "We have identified weaknesses in sales and initiated appropriate operational actions. The aim is to generate leads more efficiently, to focus consistently on the B2B segment and to integrate our sales partners more closely".
Attendance at the Extraordinary General Meeting amounted to 51% of the share capital. The stockholders approved the management's proposal for a simplified 3:1 capital reduction by a large majority of 99 %.
The voting results are available on Intershop's website at www.intershop.de/hauptversammlung.
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.