DGAP-News: Intershop Communications AG

DGAP-News: Intershop publishes figures for Q1 2016 and confirms full-year forecast

DGAP-News: Intershop Communications AG / Key word(s): Quarter Results Intershop publishes figures for Q1 2016 and confirms full-year forecast

04.05.2016 / 07:57 The issuer is solely responsible for the content of this announcement.

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- Revenues below previous year at EUR 7.3 million (-27%)

- Several projects postponed; strong order pipeline

- EBITDA, EBIT and net result still negative

- Full-year forecast confirmed: Revenues at prior year level and positive EBIT

Jena, 4 May 2016 - Intershop Communications AG (ISIN: DE000A0EPUH1), a leading independent provider of innovative solutions for omni-channel commerce, generated revenues of EUR 7.3 million in the first quarter of 2016 (previous year: EUR 10.0 million). The reduced revenues do not reflect the current order situation but are attributable to project delays resulting from longer acquisition cycles. Several projects initiated by Intershop are expected to be completed in the next few months.

Dr. Jochen Wiechen, CEO of Intershop Communications AG, says: "The figures of the first quarter do not paint a realistic picture of Intershop's current business trend. Due to our increased focus on product revenues, where licensing revenues are collected immediately, fluctuations in revenues resulting from order cycles spanning several quarters are not unusual. It is the forecast for the full year which counts for our investors, and this forecast is confirmed in view of our strong order pipeline."

Intershop's strategically important product revenues amounted to EUR 2.7 million in the first three months of the year (previous year: EUR 3.3 million); service revenues came in at approx. EUR 4.5 million in the first quarter, compared to EUR 6.7 million in the prior year period. Product revenues as a percentage of total revenues thus increased from 33% to 38%.

The gross margin was up by five percentage points on the previous year to 44%. At EUR 4.6 million, operating expenses were up by 6% on the prior year period, which is mainly attributable to short-time work in the prior year quarter. Earnings before interest and taxes (EBIT) were negative at EUR -1.4 million (previous year: EUR -0.4 million) due to the lower revenue base. Before deduction of depreciation/amortisation, which was lower than in the previous year, EBITDA amounted to EUR -0.8 million (previous year: EUR 0.7 million). Earnings after taxes stood at EUR -1.5 million, compared to EUR -0.5 million in the prior year quarter. Earnings per share amounted to EUR -0.05 (previous year: EUR -0.02).

Cash flow from operations came in at EUR -0.9 million in the reporting period (previous year: EUR 1.5 million). The cash outflow is primarily attributable to the negative result for the quarter. At EUR 14.2 million, cash and cash equivalents exceeded the prior year level by a good EUR 6.9 million as of 31 March 2016. This reflects the company's improved financial positioning resulting from last year's financial measures. At 57%, the Intershop Group's equity ratio almost reached the level of 31 December 2015.

Dr. Jochen Wiechen, CEO of Intershop Communications AG, says: "Our well-filled pipeline makes us optimistic about the current quarter. 2016 will see us continue focusing on expanding our strategic growth segments. This comprises our extended cloud offerings to be presented before the end of this year as well as the effective development of the B2B segment, which, according to Forrester, is the fastest growing e-commerce segment worldwide. The investment by Shareholder Value Management AG results in a stable shareholder structure, thereby additionally driving our operational business and our capital market performance."

Intershop confirms its forecast for the full year 2016 and expects revenues at the prior year level as well as a moderate increase in earnings before interest and taxes (EBIT).

The interim report on the first three months of 2016 is available for download at http://www.intershop.com/investors-financial-reports.

Contact: Investor Relations Heide Rausch T: +49-3641-50-1000 F: +49-3641-50-1309 ir@intershop.com

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04.05.2016 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.

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Language: English Company: Intershop Communications AG Intershop Tower 07740 Jena Germany Phone: +49 (0)3641-50-0 Fax: +49 (0)3641-50-1309 E-mail: ir@intershop.de Internet: www.intershop.de ISIN: DE000A0EPUH1 WKN: A0EPUH Indices: CDAX, PRIMEALL, TECHALLSHARE Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart End of News DGAP News Service ---------------------------------------------------------------------------

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