Jena, August 11th, 2010 – Intershop Communications AG, a provider of integrated e-commerce solutions, today published its results for the first half of 2010.
The company achieved net revenues of EUR 8.9 million in the second quarter of 2010, thus again exceeding the record revenues of EUR 8.3 million in the first quarter. The cumulative net revenues of EUR 17.2 million represent the best half-year performance since 2003. The increase of 26% on the same period of the previous year was primarily achieved due to the expansion of business with major existing customers (Platinum Accounts).
Gross profit after six months rose by 22% from EUR 6.0 million to EUR 7.3 million. The gross margin was 43%. Operating expenses increased from EUR 5.7 million to EUR 6.9 million, of which around EUR 0.4 million was attributable to special factors such as costs for the extraordinary shareholders’ meeting as well as legal and consulting fees.
EBITDA improved from EUR 1.1 million in the same period of the previous year to EUR 1.5 million. At EUR 420 thousand, the operating result (EBIT) exceeded the level of the first half-year 2009 (EUR 306 thousand) by 37%. Adjusted by special factors, the half-year EBIT is around EUR 820 thousand and thus 170% higher than the corresponding figure for the previous year. The net result for the period was EUR 395 thousand following EUR 440 thousand in the previous year – this reflects the significantly increased investments. The focus of the investment is, on the one hand, intensifying relations with existing Platinum accounts and, on the other hand, the acquisition of new Platinum accounts.
Cash and cash equivalents as of 30 June 2010 rose significantly by EUR 9.7 million to EUR 16.0 million. The increase resulted primarily from the operating cashflow of EUR 6.7 million as well as from two capital increases in the second quarter.
Taking into account these positive developments in the second quarter of 2010, the Board of Management is now forecasting growth in revenues of around 20% for the year as a whole. Given the higher investment in the sustainable development of the company, results will not initially be able to reflect this surge in growth and will stabilize at the positive level of the previous year.
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.