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25.11.2016 10:00:01
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DGAP-News: asknet AG
DGAP-News: asknet publishes figures for first nine months of 2016
25.11.2016 / 10:00 The issuer is solely responsible for the content of this announcement.
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asknet publishes figures for first nine months of 2016
- Gross profits of 6.41 million euros (previous year: 7.84 million euros)
- Gross profit margin of 13.0 percent (previous year: 14.2 percent)
- Earnings before taxes (EBT) of -1.73 million euros (previous year: 0.30 million euros), adjusted EBT of -1.01 million euros
- Organizational reform: operational structures to be reorganized from scratch
Karlsruhe, November 25, 2016 - asknet AG, a supplier of international e- business solutions, has published the figures for the first nine months of 2016. Gross profit, a key performance indicator of asknet Group, declined by 18.2 percent to 6.41 million euros during this period (previous year: 7.84 million euros). Besides slightly lower sales to some existing customers, the decline is mainly attributable to major individual deals in asknet's Academics Business Unit in the prior year period, which were not repeated on the same scale in the reporting period. In the first nine months of 2016, gross profits in asknet's Academics Business Unit dropped by a total of 35.0 percent to 2.20 million euros. It is expected, however, that corresponding transactions which were prepared but not completed in the reporting period will successively be implemented in FY 2017. Gross profits in asknet's Digital Goods Business Unit declined by 5.6 percent to 3.63 million euros. asknet's Physical Goods Business Unit's gross profits remained almost constant at 0.58 million euros (previous year: 0.61 million euros).
The Group's sales revenues dropped by 10.7 percent to 49.22 million euros (previous year: 55.13 million euros). The gross profit margin (gross profits as a percentage of sales revenues) amounted to 13.0 percent (previous year: 14.2 percent). Earnings before taxes (EBT) stood at -1.73 million euros at the nine-month stage (previous year: 0.30 million euros). Earnings continue to be adversely affected by extraordinary provisions for a potential retrospective VAT payment in Norway as well as the related consulting and restructuring expenses. In the light of new findings, however, the provisions could be reduced from 1.61 million euros to 1.00 million euros in the reporting period. Adjusted for extraordinary effects, EBT amounted to -1.01 million euros in the reporting period. Consolidated earnings after taxes (EAT) were negative at -2.50 million euros (adjusted EAT: -1.01 million euros).
Following on from the change initiative of the first half of 2016, asknet Group continued its transformation as the year progressed. The organizational reform implemented with effect from November 1st marks one of the most far-reaching changes in the Group's history of over 20 years. The main back-office departments have been integrated into the Business Units, giving the latter full customer and product responsibility along the value chain from sales to technical implementation to customer service. This ensures more stringent sales planning, faster implementation of new projects and reduced response times for customer support. The new Technical Product Management Department has been established to actively push ahead with the identification and development of innovative products and processes. Moreover, the Digital Goods and Physical Goods Business Units will be merged into the new eCommerce Solutions Business Unit.
In view of the extraordinary effects described above, the company continues to project negative consolidated earnings after taxes (EAT) of up to a maximum of -2.5 million euros. As the final quarter has traditionally been the strongest quarter of the year for all Business Units and the shop sales with several new customers will be increased successively, gross profits are expected to be higher than in the previous quarters. Gross profits for the full year 2016 will nevertheless be below the prior year level.
Says Tobias Kaulfuss, CEO of asknet AG: "In our efforts to make asknet faster, more innovative and more efficient, we do not shy away from fundamental changes. Our intensive work of the past two years to implement new processes and structures will greatly improve our effectiveness and performance, which will allow us to translate new ideas into innovative services and solutions in a timely manner and in line with actual market requirements. The financial year 2016 was a financially very disappointing year for us and does not reflect our efforts to professionalize and improve our company. While we are disappointed with the year to date, we are nevertheless optimistic in view of the customers and projects we have won so far and their effect on our future performance as well as the realistic possibility to enforce claims for compensation in conjunction with the potential retrospective tax payments."
The condensed financial statements for the first nine months of 2016 are available on the company's website at www.asknet.com.
Selected key figures of asknet Group
1 January - 30 September 2016 2015 Sales revenues 49.22 million euros 55.13 million euros Gross profits 6.41 million euros 7.84 million euros Gross profit margin (gross 13.0 % 14.2 % profits as a percentage of sales revenues) EBT -1.73 million euros 0.30 million euros Adjusted EBT -1.01 million euros n.a. Net profit/loss for the -2.50 million euros 0.30 million euros period
About asknet
asknet Group is an innovative supplier of e-business technologies and solutions for the global distribution and management of digital and physical goods. Founded in 1995 as a spin-off of the Karlsruhe Institute of Technology (KIT), the company is a pioneer of modern e-commerce with over 20 years' experience in the field.
asknet's Digital Goods and Physical Goods Business Units (to be merged into a single eCommerce Solutions Business Unit in 2017) enable international manufacturers to successfully market their products in over 190 countries. The core product, asknet eCommerce Suite, covers the complete sales process and is suitable for manufacturers of both digital and physical goods. In addition, the company offers stand-alone services and solutions along the value chain, such as asknet verify for the verification of specific customer group characteristics. asknet's Academics Business Unit assists customers from the research and education sector in purchasing and managing software and hardware. Thanks to its close relations with over 80% of Germany's universities and research institutions, asknet is intimately familiar with their needs and requirements and can offer them specific solutions. For more information, visit www.asknet.com.
Press Contact asknet AG Madeleine Clark +49 (0)721 96458-6116 investorrelations@asknet.com
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25.11.2016 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
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Language: English Company: asknet AG Vincenz-Priessnitz-Str. 3 76131 Karlsruhe Germany Phone: +49 (0)721 / 964 58-0 Fax: +49 (0)721 / 964 58-99 E-mail: info@asknet.de Internet: www.asknet.de ISIN: DE0005173306 WKN: 517330 Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart; Open Market (Entry Standard) in Frankfurt End of News DGAP News Service ---------------------------------------------------------------------------
524209 25.11.2016
DGAP-News: asknet AG / Key word(s): 9-month figures asknet publishes figures for first nine months of 2016
25.11.2016 / 10:00 The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
asknet publishes figures for first nine months of 2016
- Gross profits of 6.41 million euros (previous year: 7.84 million euros)
- Gross profit margin of 13.0 percent (previous year: 14.2 percent)
- Earnings before taxes (EBT) of -1.73 million euros (previous year: 0.30 million euros), adjusted EBT of -1.01 million euros
- Organizational reform: operational structures to be reorganized from scratch
Karlsruhe, November 25, 2016 - asknet AG, a supplier of international e- business solutions, has published the figures for the first nine months of 2016. Gross profit, a key performance indicator of asknet Group, declined by 18.2 percent to 6.41 million euros during this period (previous year: 7.84 million euros). Besides slightly lower sales to some existing customers, the decline is mainly attributable to major individual deals in asknet's Academics Business Unit in the prior year period, which were not repeated on the same scale in the reporting period. In the first nine months of 2016, gross profits in asknet's Academics Business Unit dropped by a total of 35.0 percent to 2.20 million euros. It is expected, however, that corresponding transactions which were prepared but not completed in the reporting period will successively be implemented in FY 2017. Gross profits in asknet's Digital Goods Business Unit declined by 5.6 percent to 3.63 million euros. asknet's Physical Goods Business Unit's gross profits remained almost constant at 0.58 million euros (previous year: 0.61 million euros).
The Group's sales revenues dropped by 10.7 percent to 49.22 million euros (previous year: 55.13 million euros). The gross profit margin (gross profits as a percentage of sales revenues) amounted to 13.0 percent (previous year: 14.2 percent). Earnings before taxes (EBT) stood at -1.73 million euros at the nine-month stage (previous year: 0.30 million euros). Earnings continue to be adversely affected by extraordinary provisions for a potential retrospective VAT payment in Norway as well as the related consulting and restructuring expenses. In the light of new findings, however, the provisions could be reduced from 1.61 million euros to 1.00 million euros in the reporting period. Adjusted for extraordinary effects, EBT amounted to -1.01 million euros in the reporting period. Consolidated earnings after taxes (EAT) were negative at -2.50 million euros (adjusted EAT: -1.01 million euros).
Following on from the change initiative of the first half of 2016, asknet Group continued its transformation as the year progressed. The organizational reform implemented with effect from November 1st marks one of the most far-reaching changes in the Group's history of over 20 years. The main back-office departments have been integrated into the Business Units, giving the latter full customer and product responsibility along the value chain from sales to technical implementation to customer service. This ensures more stringent sales planning, faster implementation of new projects and reduced response times for customer support. The new Technical Product Management Department has been established to actively push ahead with the identification and development of innovative products and processes. Moreover, the Digital Goods and Physical Goods Business Units will be merged into the new eCommerce Solutions Business Unit.
In view of the extraordinary effects described above, the company continues to project negative consolidated earnings after taxes (EAT) of up to a maximum of -2.5 million euros. As the final quarter has traditionally been the strongest quarter of the year for all Business Units and the shop sales with several new customers will be increased successively, gross profits are expected to be higher than in the previous quarters. Gross profits for the full year 2016 will nevertheless be below the prior year level.
Says Tobias Kaulfuss, CEO of asknet AG: "In our efforts to make asknet faster, more innovative and more efficient, we do not shy away from fundamental changes. Our intensive work of the past two years to implement new processes and structures will greatly improve our effectiveness and performance, which will allow us to translate new ideas into innovative services and solutions in a timely manner and in line with actual market requirements. The financial year 2016 was a financially very disappointing year for us and does not reflect our efforts to professionalize and improve our company. While we are disappointed with the year to date, we are nevertheless optimistic in view of the customers and projects we have won so far and their effect on our future performance as well as the realistic possibility to enforce claims for compensation in conjunction with the potential retrospective tax payments."
The condensed financial statements for the first nine months of 2016 are available on the company's website at www.asknet.com.
Selected key figures of asknet Group
1 January - 30 September 2016 2015 Sales revenues 49.22 million euros 55.13 million euros Gross profits 6.41 million euros 7.84 million euros Gross profit margin (gross 13.0 % 14.2 % profits as a percentage of sales revenues) EBT -1.73 million euros 0.30 million euros Adjusted EBT -1.01 million euros n.a. Net profit/loss for the -2.50 million euros 0.30 million euros period
About asknet
asknet Group is an innovative supplier of e-business technologies and solutions for the global distribution and management of digital and physical goods. Founded in 1995 as a spin-off of the Karlsruhe Institute of Technology (KIT), the company is a pioneer of modern e-commerce with over 20 years' experience in the field.
asknet's Digital Goods and Physical Goods Business Units (to be merged into a single eCommerce Solutions Business Unit in 2017) enable international manufacturers to successfully market their products in over 190 countries. The core product, asknet eCommerce Suite, covers the complete sales process and is suitable for manufacturers of both digital and physical goods. In addition, the company offers stand-alone services and solutions along the value chain, such as asknet verify for the verification of specific customer group characteristics. asknet's Academics Business Unit assists customers from the research and education sector in purchasing and managing software and hardware. Thanks to its close relations with over 80% of Germany's universities and research institutions, asknet is intimately familiar with their needs and requirements and can offer them specific solutions. For more information, visit www.asknet.com.
Press Contact asknet AG Madeleine Clark +49 (0)721 96458-6116 investorrelations@asknet.com
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25.11.2016 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
---------------------------------------------------------------------------
Language: English Company: asknet AG Vincenz-Priessnitz-Str. 3 76131 Karlsruhe Germany Phone: +49 (0)721 / 964 58-0 Fax: +49 (0)721 / 964 58-99 E-mail: info@asknet.de Internet: www.asknet.de ISIN: DE0005173306 WKN: 517330 Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart; Open Market (Entry Standard) in Frankfurt End of News DGAP News Service ---------------------------------------------------------------------------
524209 25.11.2016
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