Intershop publishes figures for the first nine months of 2023

  • Total revenues climb 4% to EUR 28.6 million
  • Cloud revenues up 14%, now accounting for 41% of total revenues
  • Growing revenues and higher margin reflect positive trend in service business
  • Operating result negative at EUR -1.5 million as expected

Jena, 25 October 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 28.6 million in the first nine months of the financial year 2023, up 4% on the prior-year period (EUR 27.6 million). Revenues from the strategically important cloud business rose by 14% to EUR 11.8 million (previous year: EUR 10.4 million). Cloud revenues accounted for 41% of total revenues, up three percentage points on the previous year’s 38%.

Compared to the exceptionally high level of the previous year, incoming cloud orders declined by 26% to EUR 13.9 million (previous year: +65% to EUR 18.7 million). Besides the base effect, the decline is also due to the fact that many companies are reluctant to invest as the macroeconomic situation remains uncertain. Cloud ARR (annual recurring revenues) rose to EUR 16.6 million as of 30 September 2023, which corresponds to an increase of 11% (previous year: EUR 15.1 million). Net new ARR decreased to EUR 1.3 million (previous year: EUR 2.9 million). Meanwhile, the cloud margin climbed from 55% to 57% during the reporting period.

Service revenues again showed a positive trend, rising by 9% to EUR 10.5 million in the first nine months of 2023 (previous year: EUR 9.6 million). With the main focus placed on the strategically important cloud business, license and maintenance revenues declined as expected by 16% to EUR 6.4 million (previous year: EUR 7.6 million).

Gross profit on revenues decreased slightly by 1% to EUR 12.1 million in the reporting period (previous year: EUR 12.3 million). The gross profit margin dropped by two percentage points to 42%. At EUR 13.6 million, operating expenses and income were up by two percentage points on the previous year. R&D expenses declined slightly by 1% to EUR 5.2 million (previous year: EUR 5.3 million). Sales and marketing expenses increased by 4% on the same period of the previous year to EUR 6.2 million (previous year: EUR 5.9 million). General administrative expenses declined by 2% to EUR 2.4 million (previous year: EUR 2.5 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to EUR 1.1 million in the first nine months of 2023 (previous year: EUR 1.3 million). Earnings before interest and taxes (EBIT) amounted to EUR -1.5 million (previous year: EUR -1.1 million). The result after taxes stood at EUR -1.9 million (previous year: EUR -1.5 million).

At the interim balance sheet date, equity capital was down to EUR 12.7 million (31 December 2022: EUR 13.9 million). The equity ratio remained solid at 33% (31 December 2022: 34%). Cash flow from operations rose to EUR 0.8 million in the first nine months, compared to EUR 0.2 million in the same period of the previous year. Cash and cash equivalents dropped by 18% to EUR 8.6 million (31 December 2022: EUR 10.5 million).

"We were able to further boost our cloud revenues and put our service business back on track for growth," said Markus Klahn, CEO of Intershop Communications AG. "Although the market environment remains challenging, we are optimistic about the fourth quarter as we are in advanced negotiations with several potential new customers, and we are therefore confirming our targets for the full year."

"In response to the still negative result, we will continue to drive the Value Creation Program initiated this year. Key measures include the restructuring of the U.S. sales organization, a general hiring freeze with the exception of replacements, the expansion of our cloud solutions to include an entry-level option with a reduced scope of services, and efficiency-enhancing measures to reduce infrastructure costs and further optimize processes in the service business," added Petra Stappenbeck, Chief Financial Officer of Intershop Communications AG.

For the full year 2023, Intershop projects slight revenue growth, negative but improved EBIT (previous year: EUR -2.9 million), incoming cloud orders of 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 statement for the first nine months 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