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.