SinnerSchrader AG / Key word(s): Quarter Results/Change in Forecast
09.04.2013 20:57
Dissemination 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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WEAK SECOND QUARTER NECESSITATES ADJUSTMENT TO THE FORECAST FOR FISCAL
2012/2013
The second financial quarter2012/2013 (1 December 2012 to 28 February 2013)
fell far short of expectations for the SinnerSchrader Group. Net revenue
decreased by EUR 0.8 million, or 8.4 per cent, against that of the previous
year, to EUR 8.3 million. Together with the first financial quarter of
2012/2013, in which revenue, at EUR 9.2 million, was at the same level as
in the previous year, the result was a business volume of EUR 17.5 million
for the first half of the year as a whole. This was a drop of 4.6 per cent
against the first half year of 2011/2012.
In the second quarter, promising new clients were nevertheless acquired -
among them Ferrari and Gelbe Seiten for the SinnerSchrader agency and
radio.de for SinnerSchrader Mobile. However, on the whole, the volume of
business with new clients remained below expectations for growth, as did
the development of business with existing SinnerSchrader agency clients.
Over and above this, the media agency business reported a comparatively
weak first half year period.
The operating result (EBITA) for the SinnerSchrader Group was thus only
slightly in the black prior to expenses for the establishment of the
audience management business conducted by NEXT AUDIENCE in the second
quarter. On the inclusion of these scheduled expenses, the EBITA was
negative in the amount of EUR 0.4 million. The corresponding figures for
the first half of the financial year amounted to EUR 0.6 million and EUR
-0.2 million respectively.
After an approximately balanced value in the first financial quarter, net
income declined in the quarter of the report to EUR -0.4 million. This
figure, which is equivalent to EUR -0.04 per share, was also reported for
the first half year of 2012/2013.
Against the background of the shortfall in the second quarter in comparison
to the plan, and following adjustments to estimations for the second half
year, SinnerSchrader is highly unlikely to be able to achieve its original
forecasts targeted for the 2012/2013 financial year. According to a current
estimation, revenue will exceed EUR 37 million, and will thus, contrary to
original expectations for double-digit growth, be just under 3 per cent
above the figure for the previous year. The EBITA before expenses for
establishing NEXT AUDIENCE business is now expected to amount to more than
EUR 2 million; after these expenses, the EBITA would amount to more than
EUR 0.5 million. It is currently not possible to rule out the possibility
net income being slightly negative for the 2012/2013 year as a whole.
Operative cash flow was clearly positive in the second quarter, at EUR 0.7
million. The liquidity reserve thus rose again in comparison to the most
recent reported figure for the period from 30 November 2012 to 28 February
2013, and amounts to just under EUR 3.3 million. The equity ratio as at 28
February 2013 was 58.7 per cent.
The full report of the SinnerSchrader Group for the second financial
quarter and the first half year of 2012/2013 will be published on Thursday,
11 April 2013 and can be called up under
http://www.sinnerschrader.ag/berichte-und-veroffentlichungen/reports as of
6 p.m. CET.
ABOUT SINNERSCHRADER
SinnerSchrader is one of Europe's leading digital agencies. It develops
interactive strategies, platforms and applications that create far-reaching
relationships between the consumer and brand. More than 400 people work for
the SinnerSchrader Group in Hamburg, Frankfurt, Munich, Berlin, Prague and
Hanover for customers including Allianz, comdirect bank, Holy Fashion
Group, REWE, simyo, Ã
 KODA, Tchibo and TUI. SinnerSchrader was founded in
1996 and went public in 1999.
CONTACT FOR PRESS AND PUBLIC RELATIONS
Benjamin Nickel
Head of Corporate Communications
presse@sinnerschrader.com
CONTACT FOR SHAREHOLDER INFORMATION
Thomas Dyckhoff
Finance Director
ir@sinnerschrader.com
SinnerSchrader Aktiengesellschaft
VölckersstraÃe 38
22765 Hamburg
Germany
T. +49. 40. 39 88 55-0
F. +49. 40. 39 88 55-55
09.04.2013 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: SinnerSchrader AG
VolckerstraÃe 38
22765 Hamburg
Germany
Phone: +49 (0)40 39 88 55-0
Fax: +49 (0)40 39 88 55-55
E-mail: ir@sinnerschrader.com
Internet: www.sinnerschrader.com
ISIN: DE0005141907
WKN: 514190
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hamburg, München, Stuttgart
End of Announcement DGAP News-Service
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DGAP-Adhoc: SinnerSchrader AG: WEAK SECOND QUARTER NECESSITATES ADJUSTMENT TO THE FORECAST FOR FISCAL 2012/2013
| Source: EQS Group AG