OnVista AG / Preliminary Results/Change of Personnel
11.02.2008
Release of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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In 2007, OnVista AG (DE0005461602) grew strongly both organically and
inorganically and once again increased the companys profitability. Annual
projections, after having been raised three times in the course of the
year, were slightly exceeded in terms of sales and profit.
According to the preliminary figures presented today, the OnVista Group
increased group sales in the financial year 2007 by 90% to EUR 26.67
million (prev. year: EUR 14.06 mill.). The annual forecast, last revised in
August 2007, called for EUR >26 million. Ad2Net GmbH, which was acquired in
March, has been consolidated within the group since the second quarter of
2007. Even not taking into account the sales of this newly acquired
company, the OnVista Group grew by more than 50% and consequently stronger
than the online advertising market as a whole. The OnVista finance portal
was the main pillar of sales with EUR 14.14 million (prev. year: EUR 9.12
mill.; +55%), contributing more than fifty percent to total group sales.
Due to economies of scale, profits developed even more dynamically than
sales. Group EBITDA increased by 193% to EUR 6.54 million (prev. year: EUR
2.24 mill.). EBIT rose by 250%, from EUR 1.53 million in the previous year
to EUR 5.34 million (forecast: EUR >5 mill.). In 2007 as a whole, the EBIT
margin stood at 20%, almost double compared to the previous year (11%).
As planned, the financial result came in substantially lower than the year
before, in particular as a result of the special distribution in January
2007 in the amount of well over EUR 25 mill. However, the strong operating
result by far overcompensated this effect and the pre-tax group income more
than doubled, rising to EUR 5.81 million (prev. year: EUR 2.72 mill.;
+113%). As a result, the forecast for EBT (EUR >5.4 million) has also been
exceeded. The pre-tax profit to sales ratio reached 22% (prev. year: 19%).
Below the line, the group net income totalled EUR 2.92 million (prev. year:
EUR 1.58 mill.), which is a rise of 84%. The net result was affected by
one-time tax effects in the amount of EUR 0.59 million (tax payments for
prior periods and restatement of deferred taxes as a result of corporation
tax reforms coming into effect in 2008).
In addition, Michael W. Schwetje sole Executive Director and co-founder
of OnVista AG today informed the Supervisory Board that he is not
available for an extension of his contract. The contract still runs until
30 September 2008. The Supervisory Board will look for a suitable successor
as quickly as possible. In September 2007, Mr. Schwetje sold his well over
25% stake in OnVista AG to the French company Boursorama SA, parent company
of German online broker Fimatex. Boursorama today holds more than 82% of
the capital stock in OnVista AG.
Preliminary figures under IFRS
Contact:
Anja Seipp / Mareike Berkling, tel. +49 (0) 2203/9146-306/-203, email
ir@onvista-group.de
DGAP 11.02.2008
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Language: English
Issuer: OnVista AG
Sophienstr. 3
51149 Köln
Deutschland
Phone: +49 (0)2203 9146-0
Fax: +49 (0)2203 180 640
E-mail: ir@onvista-group.de
Internet: www.onvista-group.de
ISIN: DE0005461602
WKN: 546160
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Hannover, Düsseldorf, Hamburg, München, Stuttgart
End of News DGAP News-Service
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DGAP-Adhoc: OnVista Group ends 2007 slightly above projections: Sales +90%, EBIT +250%, EBT +113% / Sole Executive Director Schwetje rules out contract extension
| Source: EQS Group AG