Ad-hoc notification: Management Board publishes 9-month results and gives updated outlook for fiscal years 2013 and 2014

Marburg, November 8, 2013 –3U HOLDING AG (ISIN DE0005167902) publishes 9-month results 2013: Group sales declined significantly from EUR 52.07 million by EUR 23.43 million to EUR 28.64 million compared to the previous year. In particular the sales shortfall in the segment Telephony in the first half year is responsible for this. In this segment, sales declined by EUR 24.24 million compared to the corresponding period. This primarily affected low-margin sales in the wholesale/value added services area.

It has to be highlighted that earnings improved overall nevertheless. EBITDA for the first nine months of 2013 increased by EUR 3.90 million to EUR –2.84 million compared to the same period of the previous year (EUR –6.74 million). In the third quarter of 2013, EBITDA amounted to EUR –0.39 million, while in the first quarter it was reported at EUR –1.61 million and in the second quarter at EUR –0.84 million.

Group’s earnings in the first nine months of 2013 with EUR –3.59 million are EUR 2.70 million higher than the Group’s earnings of the comparable period 2012 (EUR –6.29 million).

Despite the apparent turnaround of the Group, the Management Board has no choice but to adjust the forecast for 2013 and 2014. In its updated forecast the Management Board of 3U HOLDING AG expects for the fiscal year 2013 consolidated sales of between EUR 38 million to EUR 40 million and EBITDA of EUR –3.5 million to EUR –2.5 million. The earnings forecast of between EUR –4.5 million and EUR –3.0 million remains unchanged. For 2014, the Management Board anticipates sales of between EUR 44 million and EUR 49 million, EBITDA between EUR –0.5 million and EUR 1.5 million and earnings of between EUR –3.5 million to EUR –1.5 million. With this forecast it should be noted that the partial or entire sale of Subsidiaries belongs to the corporate purpose of 3U HOLDING AG as a holding company and can lead to positive special effects. However, there are limitations to plan net income therefrom and is therefore disregarded in the preceding prognosis. In addition, 3U HOLDING AG plans to grow inorganically through acquisitions in 2014. Resulting effects from this are also disregarded in the prognosis.

The publication of the 9-month report 2013 will take place today.

3U HOLDING AG: Executive Board decides extensive downsizing and gives updated outlook for fiscal years 2013 and 2014

Marburg, July 3, 2013 – As a consequence of the dynamically changing market conditions, the Management Board of 3U HOLDING AG (ISIN DE0005167902) had already formulated a Group-wide 4-points target achievement strategy 2013 at the end of 2012, which also included extensive staff reductions.

After the elimination of 25 positions in the first half of 2013, the measures to cut 23 further jobs have now been implemented within the Group, taking into account statutory notice periods. This mainly affected development capacities at the subsidiary weclapp, which are now no longer required after the main product of the company, the business apps of the weclapp suite, has largely been completed. Also a potential investor of the company who had declared his need for an undiminished development team has recently cancelled.

Due to the aforementioned personnel measures, future personnel costs of approximately TEUR 3,140 p. a. will be saved, equivalent to a quarter of the personnel costs of the year 2012 (TEUR 12,473).

With all measures taken so far, the Group comes significantly closer its objective to achieve a turnaround in the current year. Nevertheless – also due to lower personnel resources and one-time expenses related to headcount reductions – the Group’s targets for 2013 have to be adjusted.

In its updated forecast the Management Board of 3U HOLDING AG continues to expect a turnaround in the figures for fiscal year 2013. Sales between EUR 42 million and EUR 47 million, EBITDA of between EUR -2.5 million and EUR -1.0 million and net income of between EUR -4.5 million and EUR -3.0 million are planned.

For 2014, the Management Board continues to expect sales of between EUR 50 million and EUR 55 million, EBITDA of between EUR 2 million and EUR 5 million and earnings of between EUR 0 million and EUR 2 million.

3U HOLDING AG: Management Board decides on Share Buyback Programme

The Management Board of 3U HOLDING AG has decided on the basis of the authorisation granted by the annual general meeting of May 31, 2012 to repurchase up to 10% of its own shares (up to 3,531,401 shares) on the stock exchange during the period from May 1, 2013 until not later than May 30, 2017. During the time span of the share buyback programme, the Management Board reserves the right to suspend and resume the share buyback at any time, in accordance with the legal requirements to be observed. The shares may be used for all purposes according to the authorization given by the resolution of the Annual General Meeting of May 31, 2012.

BankM, Repräsentanz der biw Bank für Investments und Wertpapiere bank will manage this share buy-back programme and decide the timing of the individual repurchases independently of and uninfluenced by 3U HOLDING AG. The share buyback is subject to the safe-harbour provisions of §§ 14 para 2, 20a para 3 WpHG in conjunction with Regulation (EC) No 2273/2003.

3U HOLDING AG: Management Board announces preliminary results for 2012, an updated outlook for fiscal year 2013 and a share buyback program

  • Difficult business conditions and missed sale proceeds burden the financial figures for the year 2012
  • Four points target achievement strategy 2013 starts to gain traction
  • New business areas with encouraging dynamics
  • Updated outlook for fiscal year 2013
  • Management and Supervisory Board decide a share buyback program

Marburg, March 16, 2013 – 3U HOLDING AG (ISIN DE0005167902) today released its preliminary financial results for the past year 2012. Group sales of EUR 61.0 million (previous year: 77.3 million), EBITDA of EUR -9.9 million (previous year: 28.5 million) and earnings of EUR -9.4 million (previous year: EUR 26.6 million) were reported for 2012. Compared to the previous year it should be noted that the results of the year 2011 were significantly influenced by the effect of the sale of the subsidiary LambdaNet. The discontinued segment Broadband/IP accounted for EUR 13.9 million in sales, EUR 30.9 million of EBITDA and EUR 28.3 million of earnings.

With regard to the two major segments Telephony and Renewable Energies fiscal year 2012 was strongly influenced by legislative measures. In the segment Telephony this concerns in particular the decisions of the Federal Network Agency for regulation of rates. In the field of renewable energy, the policy-induced uncertainty regarding the future of the Renewable Energy Sources Act (EEG) demonstrated specifically in the period from mid-February to mid-June 2012, led to severe impairments.

The most recent decisions of the Federal Network Agency for regulation of rates are expected to account for sales losses of around EUR 5 million for the fiscal year 2013 alone. Also in the field of renewable energies the negative impacts of policy decisions continued at the start of 2013. According to the original plans of 3U HOLDING AG from the beginning of 2012, the solar park in Adelebsen was supposed to be only the first in a series of major projects in the segment Renewable Energies to be realized in 2012 and in subsequent years. For this purpose, several such projects had been identified and developed by the in-house planning capabilities built up over the past 3 years as well as together with an external partner network. The ongoing changes in the legal framework which in particular through the feed-in tariffs have a direct influence on the economics of projects complicate a proper and sustainable planning.

As a consequence of the market developments stated above, the Management Board implemented a Group-wide 4-points target achievement strategy 2013 which includes continuous organizational, operational and strategic actions.

  • The 4-points target achievement strategy 2013 includes the following measures:
  • Cost reduction and margin enhancement program in the segment Telephony
  • Cost optimization and efficiency improvement program in the segment Renewable Energies
  • Acceleration program to launch weclapp; search of a strategic partner
  • Cost stabilization program project development, focusing on external projects

Cost reduction measures have already been initiated or implemented in all loss making areas of the Group in the fourth quarter of 2012. Concomitant, unavoidable staff reductions lead to a reduction in personnel costs in the current year starting from the first quarter of 2013.

Encouraging are the developments in some of the most current companies within the 3U Group. Both Selfio GmbH and ClimaLevel Energiesysteme GmbH were able to exceed their sales targets in 2012 and plan substantial surpluses for 2013. The solar park Adelebsen generates income from the feed-in tariff since August 2012. In the first half of 2013 a substantial reflux of liquid funds is expected from the project, which is currently funded solely with equity. After the completion of the construction of the solar park in the 4th quarter of 2012, the extensive warehouses and storage areas along with a siding track are currently marketed.

In its updated forecast the Management Board of 3U HOLDING AG continues to expect a turnaround in the earnings figures for the fiscal year 2013. Planned are sales between EUR 45 million and EUR 50 million, an EBITDA of between EUR -1.0 and EUR 1.0 million and earnings between EUR -3.0 million and EUR -1.0 million. The forecast for the business year 2014 will be announced with the publication of the Annual Report 2012 on March 28, 2013.

The Management Board with the approval of the Supervisory Board has decided to carry out anew a repurchase of own shares on the stock exchange. The beginning of the repurchase, including further details on the buy-back will be announced separately prior to commencement.