Intershop publishes figures for the first half of 2023

  • Cloud growth accelerates noticeably compared to Q1 2023
  • Total revenues up slightly to EUR 19.4 million; cloud revenue share rises to 40%
  • Service business stabilizes with revenue and margin growth
  • E-commerce market environment negatively impacted by economic concerns; spending restraint in all markets

Jena, 26 July 2023 – Intershop Communications AG (ISIN: DE000A254211), a global provider of B2B commerce solutions for the upper mid-market in the manufacturing and wholesale sectors, generated revenues of EUR 19.4 million in the first six months of the financial year 2023, up 5% on the prior-year period (EUR 18.5 million). Revenues from the strategically important cloud business rose by 16% to EUR 7.8 million (previous year: EUR 6.7 million). Cloud revenues accounted for 40% of total revenues, up four percentage points on the previous year’s 36%.

While incoming cloud orders of EUR 9.7 million (previous year: EUR 14.3 million) were 32% below the unusually high level of the previous year's period, they increased significantly in the second quarter compared to the first quarter to approximately EUR 7.0 million. In view of the uncertain macroeconomic situation, however, the market environment in the e-commerce sector remains somewhat subdued overall. Cloud ARR (annual recurring revenues) rose to EUR 16.1 million as of 30 June 2023 – an increase of 12% (previous year: EUR 14.4 million). Net new ARR decreased to EUR 0.7 million (previous year: EUR 2.3 million). The cloud margin rose from 55% to 58% in the reporting period.

Earnings before interest and taxes (EBIT) amounted to EUR -0.8 million in the first six months of 2023 (previous year: EUR -0.5 million). While the services segment was characterized by relatively low, low-margin revenues in the first quarter, the segment increasingly recovered in the second quarter, as announced. Service revenues for the first six months thus increased by 8% to EUR 7.1 million. With the focus placed on the cloud business, license and maintenance revenues declined as expected by 14% to EUR 4.6 million (previous year: EUR 5.3 million).

Gross profit on revenues amounted to EUR 8.4 million in the reporting period (previous year: EUR 8.6 million). The gross profit margin dropped three percentage points to 43%. At EUR 9.2 million, operating expenses and income were up by one percentage point on the previous year. R&D expenses decreased by 4% to EUR 3.5 million. Sales and marketing expenses increased by 3% to EUR 4.1 million. General administrative expenses stayed at the prior year level of EUR 1.6 million. Earnings before interest, taxes, depreciation and amortization (EBITDA) stood at EUR 0.9 million in the reporting period (previous year: EUR 1.1 million). The result after taxes amounted to EUR -1.1 million (previous year: EUR -0.8 million).

At the interim balance sheet date, equity capital amounted to EUR 13.5 million (31 December 2022: EUR 13.9 million). The equity ratio remained solid at 33%. Cash flow from operations stood at EUR 1.6 million in the first six months, compared to EUR 1.9 million in the same period of the previous year. Cash and cash equivalents amounted to EUR 10.1 million as at 30 June 2023 (31 December 2022: EUR 10.5 million).  

"We clearly gained momentum in the second quarter and significantly increased incoming cloud orders compared to the first three months of the year," said Markus Klahn, CEO of Intershop Communications AG. "With cloud revenues accounting for a steadily growing share of total revenues, we are also on the right track, although we are noticing growing reluctance to spend on the part of potential customers, not only in the B2C segment but increasingly also among our B2B target group. The services segment, on the other hand, is back on the growth track."

On the backdrop of the above-mentioned spending restraint, Intershop expects moderate revenue growth and negative but improved EBIT for the full year 2023 (previous year: EUR -2.9 million). Moreover, Intershop expects incoming cloud orders worth between EUR 24.0 million and EUR 26.0 million (previous year: EUR 25.9 million) and net new ARR of between EUR 1.5 million and EUR 2.5 million (previous year: EUR 3.2 million).

The interim report for the first half of 2023 is available at

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.

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Mercedes Zaremba
Mercedes Celine Zaremba Corporate Communications Manager Phone