3U TELECOM GmbH wins new customers

  • Further increase in data centre utilisation
  • Subscriber network operators rely on 3U TELECOM
  • Positive outlook for 2022

Marburg, 6 December 2021 – 3U TELECOM GmbH, a subsidiary of 3U HOLDING AG (ISIN DE0005167902), continues to successfully expand its business and is laying solid foundations for further development. In the Data Center Services (DCS) business area, new customers in particular have rented capacities and thus increased the utilisation of the data centre space in Berlin and Hanover from around 50 % in January 2021 to now more than 80 %.

3U TELECOM’s Next Generation Network is one of the technologically leading telephone networks in Germany. Subscriber network operators large and small are increasingly relying on the use of this offering. The ISO 27001 certification confirmed in June 2021 is proving to be another important competitive advantage. In the last 12 months, new contracts were concluded with a total of 14 network and service providers.

Against this background, 3U TELECOM GmbH expects to continue its positive development in the coming financial year.

Uwe Knoke, Managing Director of 3U TELECOM GmbH and CFO of 3U HOLDING AG, emphasises: “It is an essential part of our strategy to constantly expand the scope of our business customers and partners. In this way we not only tend to compensate for the foreseeable run-out of our voice retail business with call-by-call numbers – we also strive for sustainable profitable growth for our B2B business in telephony, managed services and data centres. We look back on a successful year in which our new initiatives in marketing and sales have borne gratifying fruit. Certified security and service quality as well as unconditional customer orientation are a good basis for further progress.”

 

Further Information: 
Dr Joachim Fleing
Investor Relations
3U HOLDING AG
Tel.: +49 6421 999-1200
Fax: +49 6421 999-1222
E-mail: ir@3u.net

About 3U:
3U HOLDING AG (www.3u.net) has its headquarters in Marburg, Germany, and was founded in 1997. It is the operating management and investment holding company at the head of the 3U Group. It acquires, operates and sells companies in the three segments of ITC (Information and Telecommunications Technology), Renewable Energies and SHAC (Sanitary, Heating and Air Conditioning Technology). The 3U Group has successful and profitable business models based on megatrends in all three segments. It continues to expand its business activities dynamically, particularly in its strongest growth areas of cloud computing and online trading, in which it is striving to achieve leading positions in the market.

3U HOLDING AG’s shares are traded on XETRA, Tradegate and on the German regional stock exchanges (ISIN: DE0005167902; identifier: UUU).

3U HOLDING – EKF interview

3U HOLDING is a holding company that acquires, manages and sells interests in companies across three primary segments: telecom services, cloud computing and IT services; sanitary, heating and climate technology anchored in e-commerce; and renewal energies such as wind and solar farms. The firm’s activities are largely focused on Germany and neighbouring European countries.
In this interview, head of investor relations Dr Joachim Fleing profiles the firm’s three business segments and the prospects for each, especially the fast-growing cloud computing and e-commerce businesses. He reviews the competitive marketplace, describes several initiatives that are driving 3U HOLDING’s growth and discusses the potential IPO of its weclapp subsidiary in H122.

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3U nine-month figures: organic revenue growth of 5.0% and ongoing dynamic expansion of around 50% in weclapp’s cloud business

  • Following the disposal of two non-core subsidiaries in 2020, consolidated revenue down 9.6% in line with expectations
  • Cloud Computing remains growth driver, flanked by e-commerce and telecommunications with organic revenue growth
  • Guidance for the 2021 financial year further specified: In view of the global supply problems (SHAC) and weaker wind yield, the Management Board anticipates figures at the lower end of guidance

Marburg, 10 November 2021 – 3U HOLDING AG (ISIN DE0005167902) generated consolidated revenue of EUR 40.21 million in the first nine months of 2021, reflecting a decline of EUR 4.28 million (9.6%) compared with year-earlier revenue of EUR 44.49 million. The downturn is principally due to the disposal of parts of the business in the fourth quarter of the financial year 2020. At the time, the Lüdersdorf wind farm in the Renewable Energies segment and ClimaLevel Energiesysteme GmbH in the SHAC segment left the group of consolidated companies. Their joint contribution to revenue in the first nine months of 2020 amounted to EUR 6.21 million. The 3U Group therefore achieved organic growth of 5.0% in the period under review. This key figure stood at 6.4% in the third quarter of 2021.

The 3U Group delivered adjusted EBITDA of EUR 6.01 million in the first nine months of the financial year 2021. This figure does not take account of expenses amounting to EUR 0.46 million in connection with corporate acquisitions in the Cloud Computing business as well as preparations for a possible initial public offering of weclapp SE. Including these one-off expenses, Group EBITDA amounts to EUR 5.56 million (9M/2020: EUR 6.43 million). The EBITDA margin (EBITDA as a percentage of revenue) stood at 13.8% in the first nine months of 2021 compared with 14.5% in the year-earlier period. Adjusted EBITDA is equivalent to 15.0% of consolidated Revenue.

The cost of materials decreased by 9.1% to EUR 21.70 million (9M/2020: EUR 23.87 million). The cost of materials ratio (cost of materials as a percentage of revenue) edged up to 53.9% (9M/2020: 53.6%). This ratio reflects the sharp increase in procurement prices in the construction sector as a whole – especially in the second quarter and third quarter – and therefore also for the SHAC segment. A countertrend emanated from growth in the ITC segment with its sparing use of materials.

Personnel expenses rose slightly by 3.3% to EUR 10.09 million (9M/2020: EUR 9.78 million). The increase was due in particular to hiring new staff in the context of the planned growth trajectory for the Cloud Computing business. The personnel expenses ratio (personnel expenses as percentage of revenue) climbed to 25.1% in the first nine months of 2021 (9M/2020: 22.0%). Other operating expenses advanced to EUR 6.53 million (9M/2020: EUR 6.11 million). As already mentioned, this increase was attributable to extraordinary expenses of EUR 0.46 million incurred in connection with M&A activities and a possible IPO of weclapp SE.

The 3U Group’s depreciation and amortisation amounted to EUR 3.07 million in the first three quarters of 2021 (9M/2020: EUR 3.84 million). The decrease is due in particular to the deconsolidation of the Lüdersdorf wind farm. Tax expenses rose to EUR 0.96 million (9M/2020: EUR 0.81 million), as expected. The consolidated result (net of minority interest) came in at EUR 0.94 million, reflecting a year-on-year increase of 55.8% (9M/2020: EUR 0.60 million).

Segment results
The ITC segment raised revenue considerably by 19.5% to EUR 16.56 million (9M/2020: EUR 13.86 million) and generated EBITDA of EUR 3.57 million, which marks a slight decline in comparison with the previous year’s period (9M/2020: EUR 3.66 million). Revenue in the Voice Retail business line returned to normal levels in the first nine months of 2021 compared with the financial year 2020 when the demand for telecommunications services from end consumers increased significantly in the wake of measures to combat the COVID-19 pandemic. By contrast, growth was once again achieved in the Voice Business Customers and Data Centres areas, which enabled Telecommunications to report a slight upturn in business overall, also compared with the strong year-earlier period. The business of weclapp SE, synonymous with the Cloud Computing business, expanded by 48.7% in the first nine months of 2021 compared with the same period in 2020. As an individual company, weclapp SE delivered an EBITDA margin of 24.7% despite the extensive, forward-looking recruiting of new staff and high one-off expenses in connection with company acquisitions and preparations for a possible initial public offering (IPO). The segment’s EBITDA margin contracted to 21.6% (9M/2020: 26.4%).

Revenue in the Renewable Energies segments decreased by 38.3% to EUR 4.39 million in the first three quarters of 2021 (9M/2020: EUR 7.12 million). Similar to the first and second quarter of 2021, the segment registered wind yield in the third quarter that was lower than anticipated based on the long-term average. Moreover, the deconsolidation of the Lüdersdorf wind farm and the lower rate for electricity fed back into the grid from wind turbines no longer subject to subsidies under the German Renewable Energy Sources Act (EEG) also pared down revenue in this segment. Segment EBITDA dropped to EUR 3.22 million in the reporting period (9M/2020: EUR 5.61 million). The Renewable Energies segment’s EBITDA margin came in at 73.2% (9M/2020: 78.7%).

Revenue in the SHAC segment decreased by 16.7% to EUR 19.95 million in the first nine months of 2021 (9M/2020: EUR 23.95 million). This development was mainly due to ClimaLevel Energiesysteme GmbH leaving the consolidated group in the fourth quarter of 2020. Continued operations, i. e. 3U’s e-commerce operations, reported organic growth of 7.9%. Business in the SHAC segment was negatively impacted by the shortage of commodities and materials in the entire construction industry and the resulting delivery bottlenecks and drastic price hikes for commodities, components and systems. This applied not only to third party products, but also to the segment’s proprietary brand products. Difficulties in procuring commodities and components were exacerbated in the third quarter. The SHAC segment nevertheless succeeded in holding its ground well despite numerous challenges in the sector. In the first nine months of 2021, the SHAC segment’s cost of materials ratio rose slightly year on year to 79.5% (9M/2020: 77.4%). Segment EBITDA improved to EUR -0.30 million (9M/2020: EUR -0.38 million).

Revenue of EUR 1.06 million was reported under Other Activities in the period under review (9M/2020: EUR 1.47 million). This revenue largely consists of income from management services; the decline is due to the disposal of property in the financial year 2020 and the lack of the associated rental income. In the first nine months of 2021, both personnel expenses and other operating expenses remained unchanged from the previous year’s period. Segment EBITDA improved considerably to EUR -0.96 million in the reporting period (9M/2020: EUR -2.38 million).

Sound balance sheet and financial ratios despite higher Investment
The cash outflow from operating activities amounted to EUR 3.43 million in the first nine months of the financial year 2021 (9M 2020: cash inflow of EUR 2.55 million). The 3U Group disbursed EUR 11.66 million in investments in the period under review (9M/2020: EUR 4.62 million). Cash inflow from completing the sale of non-core parts of the Adelebsen property were offset in the reporting period 2021 by cash outflow for completing the construction of the new distribution centre in Koblenz, as well as weclapp SE’s acquisition of ITscope GmbH in particular. Free cash flow came in at EUR -15.08 million in the reporting period due to the high level of investment (9M 2020: EUR -2.07 million). The total amount of cash and cash equivalents stood at EUR 10.23 million at the end of the third quarter (December 31, 2020: EUR 26.42 million).

Total assets had increased to EUR 105.02 million as of 31 September 2021 (31 December 2020: EUR 85.90 million). The balance sheet extension is especially attributable to the takeover of ITscope GmbH. Offsetting the lower level of cash and cash equivalents, the assets side shows a significant increase in intangible assets, and the liabilities side an increase in financial liabilities and equity. The substantial increase in inventories is due to progress made in building InnoHubs in Würzburg. As part of the property developer model, InnoHubs GmbH is making headway with the successful marketing of space in the building complex.

Principally due to acquiring ITscope GmbH, the 3U Group reported net debt (cash and cash equivalents minus current and non-current financial liabilities) of EUR 9.51 million. The debt-to-equity ratio had increased to 76.4% by 30 September 2021 (31 December 2020: 65.2%).

The 3U Group disclosed positive working capital amounting to EUR 19.88 million and continued to have a sound equity ratio of 56.7% as of 30 September 2021 (31 December 2020: 60.5%).

Guidance for 2021 further specified
The Management Board further specified guidance issued in March for the financial year 2021. Given the global supply problems that are impeding the procurement of goods in the SHAC segment, and weak revenue in the Renewable Energies segments due to the weather conditions, the 3U Group anticipates consolidated revenue at the lower end of guidance. Revenue is therefore expected in a range of between EUR 58 million and EUR 63 million. The Management Board also expects EBITDA to settle at lower end of guidance, namely between EUR 11 million and EUR 13 million, especially when taking account of the extraordinary expenses incurred by M&A activities and by preparations for a possible IPO of weclapp SE. Furthermore, as is already known, earnings in the single-digit million range from the disposal of assets have been incorporated into planning. Profit of the 3U Group is therefore expected in a range of between EUR 2 million and EUR 4 million.

“Creating value for our shareholders – this was and is our corporate purpose. We continue to see huge growth potential in the years ahead in the three megatrends in which we are successfully operating, namely in cloud computing, e-commerce and renewable energies,” explains Michael Schmidt, spokesman of 3U HOLDING Ag’s Management Board. “Our subsidiary weclapp SE in particular delivered impressive growth of around 50% in the first nine months of 2021. The successful acquisitions of ITscope and FinanzGeek enrich our cloud-based business and will serve to accelerate growth. We can and want to reap further value potential through a possible launch of our subsidiary weclapp SE on the stock exchange.”

Quarterly Statement
The quarterly statement on the first nine months of the 2021 financial year will be published today, 10 November 2021. It can be downloaded from the company’s website (www.3u.net) under the “Investor Relations/Reports” heading.

 

Further Information: 
Dr Joachim Fleing
Investor Relations
3U HOLDING AG
Tel.: +49 6421 999-1200
Fax: +49 6421 999-1222
E-mail: ir@3u.net

About 3U:
3U HOLDING AG (www.3u.net) has its headquarters in Marburg, Germany, and was founded in 1997. It is the operating management and investment holding company at the head of the 3U Group. It acquires, operates and sells companies in the three segments of ITC (Information and Telecommunications Technology), Renewable Energies and SHAC (Sanitary, Heating and Air Conditioning Technology). The 3U Group has successful and profitable business models based on megatrends in all three segments. It continues to expand its business activities dynamically, particularly in its strongest growth areas of cloud computing and online trading, in which it is striving to achieve leading positions in the market.

3U HOLDING AG’s shares are traded on XETRA, Tradegate and on the German regional stock exchanges (ISIN: DE0005167902; identifier: UUU).

Announcement of management changes in the 3U HOLDING Group

Joint press release of 3U HOLDING AG and weclapp SE:

  • Michael Schmidt will move from the Executive Board of weclapp SE to its Supervisory Board
  • Christoph Hellrung is appointed CFO of weclapp SE and resigns from his position as CFO of 3U HOLDING AG
  • Uwe Knoke is appointed CFO of 3U HOLDING AG

Marburg and Frankfurt/M., Germany, 29 October 2021 – The Supervisory Board of 3U HOLDING AG (ISIN DE0005167902) as well as the Supervisory Board of weclapp SE, a subsidiary of 3U HOLDING AG, intend, in agreement with the executives involved, and as part of the preparations for the possible IPO of weclapp SE, to make several personnel changes in the executive bodies of both companies. Accordingly, the following changes are planned:

Michael Schmidt, initially managing director of weclapp GmbH since its foundation, today CFO of the current weclapp SE, will resign from his office and will stand as a further member of the supervisory board at a general meeting yet to be convened. He will remain CEO of 3U HOLDING AG.

The new CFO of weclapp SE will be Christoph Hellrung. After almost 10 years as CFO of 3U HOLDING AG, Christoph Hellrung will resign from his position there and take over this task at weclapp SE. The new CFO of 3U HOLDING AG will be Uwe Knoke, previously CEO and CFO of 3U TELECOM GmbH and other telephony companies of the 3U Group for many years.

The agreement will be implemented as soon as possible by means of the respective required resolutions, appointments and management contracts. It has specifically to be seen in the context of a possible IPO of weclapp SE, which might occur in the first half of 2022, and is an important step to meet the increasingly high requirements of the capital market regarding the ESG standards (Environmental, Social and Governance) of stock exchange candidates, in particular with regard to corporate governance. It confirms the independence of the strategic and operative development of the stock market candidate weclapp SE within the 3U HOLDING group.

The Chairman of the Supervisory Board, Ralf Thoenes, emphasises: “We are always aware of our responsibility for the shareholders of 3U and for the existing and future shareholders of weclapp. We are realigning the management team in line with generally accepted governance standards and principles especially with a view to a possible IPO, which eventually might provide the means to further accelerate the profitable growth of weclapp SE and open up an interesting investment opportunity for investors.”

 

Contact at 3U HOLDING AG
Dr. Joachim Fleïng
Head of Investor Relations
Tel.: +49 6421 999-1200
Fax: +49 6421 999-1222
Email: ir@3u.net www.3u.net

About 3U:
3U HOLDING AG (www.3u.net) 3U HOLDING AG (www.3u.net) has its headquarters in Marburg, Germany, and was founded in 1997. It is the operating management and investment holding company at the head of the 3U Group. It acquires, operates and sells companies in the three segments of ITC (Information and Telecommunications Technology), Renewable Energies and SHAC (Sanitary, Heating and Air Conditioning Technology). The 3U Group has successful and profitable business models based on megatrends in all three segments. It continues to expand its business activities dynamically, particularly in its strongest growth areas of cloud computing and online trading, in which it is striving to achieve leading positions in the market. 3U HOLDING AG’s shares are traded on XETRA, Tradegate and on the German regional stock exchanges (ISIN: DE0005167902; identifier: UUU).

Contact at weclapp SE
Dr. Stephanie Nickel
Corporate Communications
Tel.: +49 69-33390-2211
Mobil: +49 177-5552955
Email: nickel@weclapp.com
www.weclapp.com | www.weclapp.se

About weclapp:
weclapp SE was founded in 2008 and has been offering the cloud-based platform of the same name since 2013. Since market entry, the company has grown by an average of almost 100% (CAGR) and is turning a profit. With Software-as-a-Service (SaaS), it mainly addresses small and medium-sized enterprises, with integrated ERP (Enterprise Resource Planning) and CRM (Customer Relationship Management) functionalities in particular. Customers thus have unrestricted access to their business transactions and data from any Internet-enabled device and from any location connected to the Internet. With storage and computing capacities in Germany and Switzerland and ISO 27001 certification, weclapp offers a high level of data security. The platform has repeatedly won awards as ERP system of the year. weclapp SE operates out of Frankfurt am Main and maintains branches in Marburg Kitzingen. Karlsruhe and Worms It is a subsidiary of Marburg-based 3U HOLDING AG. www.linkedin.com/company/weclapp.

weclapp SE: ITscope GmbH takeover completed

  • High potential for joint growth from cross-selling and upselling
  • Strategic synergies through scaling, internationalisation, and network expansion
  • Cloud-based ITscope-SaaS-to be continued

Marburg, 22 October 2021 – The Frankfurt Local Court has entered a capital increase against contribution in kind at weclapp SE, a subsidiary of 3U HOLDING AG (ISIN DE0005167902), in the commercial register. The new shares resulting from the capital increase were taken over by the shareholders of ITscope GmbH, who in return contributed all company shares in ITscope to weclapp SE. The takeover of ITscope by weclapp SE has thus been completed.

Ertan Özdil, CEO of weclapp SE, underlines: “Technologically, ITscope is a perfect fit for our cloud-based platform. The acquisition enriches the service offering for our customers; it accelerates our growth; but it is also an important strategic step to jointly expand our market coverage. Many ITscope customers already use weclapp as their ERP platform; weclapp customers book access to ITscope’s B2B platform. We have already started to expand the common basis and make it the basis for accelerated growth.”

weclapp SE has already been working together with ITscope GmbH for several years. The service offerings of both companies complement each other and will offer further potential benefits to mutual customers in the future. Both parties expect further cross- and upselling potentials from the merger, as well as additional possibilities to introduce the advantages of their range of services to customers in further industries and countries.

The Karlsruhe-based company operates a powerful, cloud-based B2B e-commerce platform as a SaaS solution that enables IT service providers such as system houses to digitalise their sales and purchasing and establish automated sales and purchasing processes for customers and suppliers. Direct customers of this offering currently include more than 3,000 companies. In addition, more than 400 distributors (IT wholesalers) and manufacturers are connected as data and product suppliers throughout Europe. This ITscope SaaS solution is already a popular add-on in the weclapp store and was named “Plugin of the Month” there in September 2021. In the future, the ITscope SaaS solution can be extended beyond the current industry focus for further industries.

In addition to this B2B platform, ITscope operates a solution that gives medium-sized companies in online trade additional competitive advantages. ITscope offers a customer product catalogue that provides master data for several million IT products for their users. The information comes from manufacturers and content providers who independently supply and update high-resolution images, detailed technical data and marketing texts, thus considerably simplifying the customer’s Product Information Management (PIM). For their part, online retailers can access this data in e-commerce via the digital asset management (DAM) functionality, thereby increasing their efficiency and profitability. Customer-specific portals with user-defined products, prices and elements of the respective corporate design can thus be generated directly from the cloud. Thus, the weclapp ERP platform is also meaningfully supplemented with regard to the important business process areas PIM and DAM of the weclapp customers, and receives further starting points for the stronger enrichment of the business processes with artificial intelligence Technologies.

Recently, ITscope has also been offering IT service providers the possibility to design individual XaaS products (short for Anything as a Service) and bundle them with their own services as well as items from the platform’s comprehensive ITC catalogue.

The business activities of ITscope will be continued by the current managing directors and under the existing brand. The Karlsruhe location will remain. The development of joint new offers is in preparation.

 

Further Information: 
Dr Joachim Fleing
Investor Relations
3U HOLDING AG
Tel.: +49 6421 999-1200
Fax: +49 6421 999-1222
E-mail: ir@3u.net

About 3U:
3U HOLDING AG (www.3u.net) has its headquarters in Marburg, Germany, and was founded in 1997. It is the operating management and investment holding company at the head of the 3U Group. It acquires, operates and sells companies in the three segments of ITC (Information and Telecommunications Technology), Renewable Energies and SHAC (Sanitary, Heating and Air Conditioning Technology). The 3U Group has successful and profitable business models based on megatrends in all three segments. It continues to expand its business activities dynamically, particularly in its strongest growth areas of cloud computing and online trading, in which it is striving to achieve leading positions in the market.

3U HOLDING AG’s shares are traded on XETRA, Tradegate and on the German regional stock exchanges (ISIN: DE0005167902; identifier: UUU).

weclapp is “ERP System of the Year” and among the winners of “Growth Champions 2021”

  • FOCUS Business economic journal and Statista distinguish fast growing companies
  • weclapp again awarded as ERP System of the Year
  • For the first time weclapp annual financial statements audited according to IFRS, annual report published

Marburg, 15 October 2020 – weclapp SE, a subsidiary of 3U HOLDING AG (ISIN DE0005167902) now received two coveted awards. In the competition “Growth Champions 2021” of the magazine Focus Business in cooperation with Statista, weclapp SE with its cloud-based ERP platform of the same name took top places on 13 October 2020. On October 14, 2020 weclapp received the certificate as “ERP System of the Year”. Already in the years 2016 to 2018 weclapp had won this award in the competition of the same name under the auspices of the University of Potsdam and was among the finalists in 2019.

“ERP System of the Year”

A top-level expert jury moderated by Prof. Dr. Norbert Gronau, University of Potsdam, awarded this year’s prize “ERP System of the Year” (https://system-des-jahres.de) after careful preliminary examination of the written applications. The list of criteria comprised eight categories: Implementation methodology, concrete customer benefit, research and development, customer communication, suitability for the industry, functions, ergonomics and technology. 13 companies were shortlisted and were given the opportunity to elaborate on three of the criteria in a competitive presentation.

Using the example of an ongoing project in a renowned automotive group, Ertan Özdil, CEO of weclapp SE, explained in detail the advantages of the cloud-based ERP platform during the introduction of the system. The migration from a legacy system to an enterprise software of the latest generation (ERP 3.0), as he showed in his presentation, can be executed significantly faster and smoother with weclapp than with conventional ERP systems. The technological advantages of the platform and the customer-friendly ergonomics were also explained in detail.

“For years, weclapp has been regularly awarded as one of the best ERP systems in Germany, if not the best. Our customers set the pace in our ongoing development, just as our system generates the impulse for our customers’ teams in their business processes. The daily enhancement of the system is one of our success factors”, emphasises Ertan Özdil, “And because the customers confirm with their daily work that we deliver an ingenious system, we can continue our rapid and profitable growth course uninterrupted in the coming years”.

“Growth Champion 2021”

weclapp’s growth to date was also registered by business magazine FOCUS and Statista, who included weclapp for the first time in their list of the 500 fastest-growing companies in Germany. The ranking is the result of a cross-sectoral, independent evaluation of a much larger sample by Statista. It is intended to honour the achievements of the companies, because “they give important impulses to the economy and society, create new jobs, act as innovators and thus secure Germany as a business location in the long term”, as FOCUS and Statista state. Ranking 13th in the IT sector and 65th among the top 500 of the 15,000 companies evaluated in detail, weclapp ranks among the top German growth companies. The complete company ranking was published in the FOCUS Business edition of 13 October 2020 as well as on www.focus.de and de.statista.com.

Annual Report 2019

In order to further improve the transparency of the status and prospects of its business, weclapp SE for the first time presents annual financial statements and management report according to IFRS, which have been certified without qualification. The annual report is available from today, October 15, 2020, on the websites www.3u.net, www.weclapp.se and www.weclapp.com.

Further information:

Dr. Joachim Fleïng
Investor Relations
3U HOLDING AG
Tel.: +49 (0) 6421 999-1200
Fax: +49 (0) 6421 999-1222
E-mail: ir@3u.net

About weclapp:
weclapp SE was founded in 2008 and offers since 2013 the cloud-based platform of the same name. Since market entry it has grown by an average of 50% each year and is operating profitably. With Software-as-a-Service (SaaS) it addresses mainly small and medium-sized companies, especially with the integrated ERP (Enterprise Resource Planning) and CRM (Customer Relationship Management) functionalities. Customers thus have unlimited access to their business transactions and data from any Internet-capable end device and from any location connected to the Internet. With storage and computing capacities in Germany and Switzerland and the certification according to ISO 27001, weclapp offers a high degree of data security. The platform has repeatedly been awarded the title of ERP system of the year. The weclapp SE is based in Frankfurt am Main with further locations in Marburg and Kitzingen. It is a subsidiary of the 3U HOLDING AG based in Marburg.

About 3U:
3U HOLDING AG (www.3u.net) has its headquarters in Marburg, Germany, and was founded in 1997. It is the operating management and investment holding company at the head of the 3U Group. It acquires, operates, and sells companies in the three segments of ITC (Information and Telecommunications Technology), Renewable Energies and SHAC (Sanitary, Heating and Air Conditioning Technology). The 3U Group has successful and profitable business models based on megatrends in all three segments. It continues to expand its business activities dynamically, particularly in its strongest growth areas of cloud computing and online trading, in which it is striving to achieve leading positions in the market.

3U HOLDING AG’s shares are traded on XETRA, Tradegate and on the German regional stock exchanges (ISIN: DE0005167902; identifier: UUU).

weclapp SE acquires German start-up FinanzGeek

  • New tool for self-employed and micro-enterprises unlocks additional market segment for weclapp
  • Market launch planned for the first half of 2022

Marburg, 14 October 2021 – weclapp SE, a subsidiary of 3U HOLDING AG (ISIN DE0005167902), has acquired all shares in FinanzGeek GmbH, Worms, for a cash consideration of less than EUR 1 million. The cloud-based software-as-a-service (SaaS) solution of the same name is on the verge of entering the market; around 300 interested persons are currently using a free trial version. It offers self-employed persons and micro-enterprises essential advantages of a comprehensive business software, is geared to the needs of this market segment and can be used regardless of industry. FinanzGeek customers receive a detailed overview of their key figures in the areas of finance, projects, customer and employee satisfaction. This allows business processes to be handled digitally and effectively. Alarm and notification functions help to constantly improve the company’s Success.

Final development steps will be carried out with the cooperation of the founders of FinanzGeek within the weclapp organisation. Active marketing is then to begin immediately and is planned for the first half of 2022 at the latest. It is expected that thanks to this expansion of the scope of services, the number of active clients of the weclapp group will increase at an accelerated rate. This does not only concern users who are acquired in direct sales via finanzgeek.de; test users who are looking for suitable solutions on weclapp.com will also be provided with an easy and cost-effective gateway solution.

Ertan Özdil, CEO of weclapp SE, sees considerable potential: “About half of the medium-sized companies are self-employed and micro-enterprises with less than five employees. On our way to becoming the world’s preferred cloud-based business solution for SMEs, we do not want to neglect this customer group. The acquisition of FinanzGeek provides us with a fast, promising access to this market segment. Small customers for whom weclapp is too extensive can work efficiently with the help of FinanzGeek; customers who grow out of FinanzGeek we shall welcome on the weclapp platform just as we do now all medium-sized businesses.”

 

Further Information: 
Dr Joachim Fleing
Investor Relations
3U HOLDING AG
Tel.: +49 6421 999-1200
Fax: +49 6421 999-1222
E-mail: ir@3u.net

About 3U:
3U HOLDING AG (www.3u.net) has its headquarters in Marburg, Germany, and was founded in 1997. It is the operating management and investment holding company at the head of the 3U Group. It acquires, operates and sells companies in the three segments of ITC (Information and Telecommunications Technology), Renewable Energies and SHAC (Sanitary, Heating and Air Conditioning Technology). The 3U Group has successful and profitable business models based on megatrends in all three segments. It continues to expand its business activities dynamically, particularly in its strongest growth areas of cloud computing and online trading, in which it is striving to achieve leading positions in the market.

3U HOLDING AG’s shares are traded on XETRA, Tradegate and on the German regional stock exchanges (ISIN: DE0005167902; identifier: UUU).

Photovoltaic system installed on the 3U distribution centre in Koblenz

  • Around 300 kWp cover up to 60 % of the electricity consumption
  • Around 132 tonnes of CO2 are saved annually
  • Investment will have amortised within a few years

Marburg and Koblenz, 30. September 2021 – 3U HOLDING AG (ISIN DE0005167902) has built a rooftop photovoltaic (PV) system at its Koblenz site. The distribution centre for 3U online trading, which is operated by the subsidiary PELIA Gebäudesysteme GmbH, has around 14,000 m² of roof space. 810 photovoltaic modules with a nominal output of 299.7 kWp are now installed on a large part of the roof. Five powerful inverters ensure that the electricity generated in the distribution centre can be used by the centre itself and that surpluses can be fed into the grid. Up to 60 % of the annual electricity consumption at the site is covered by the PV system. In this way, the company saves around 132 t of CO2 year after year. The use of self-generated solar power is also cheaper than purchasing it from an electricity provider. The production costs are calculated at less than 6 cents per kilowatt hour. The profitability calculations indicate that the investment of around EUR 250,000 will have paid for itself within about seven years.

Michael Schmidt, Spokesman of the Management Board of 3U HOLDING AG, sees the commissioning as confirmation of this assumption: “Since the first beginnings of our business with renewable energies in 2009/2010, this assumption has been confirmed time and again: Sustainability, ecology and profitability go hand in hand. Our investment in the photovoltaic roof system in Koblenz reduces our carbon footprint considerably and leads to significantly cheaper energy costs. Photovoltaic investments like this help to sustainably increase the value of the company.”

The warehouse and logistics centre in the Koblenz industrial park was built by 3U HOLDING AG with an investment volume of around 12 million euros. The 3U subsidiary PELIA Gebäudesysteme GmbH put it into operation in May 2021 and ships the goods of the Group’s SHK segment (sanitary, heating and air conditioning technology) from here. With its subsidiaries in the SHAC segment, in particular with the online trading of Selfio and PELIA, the 3U Group is successfully active in the e-commerce megatrend. The 3U online trade has doubled its sales volume over the last five years. The new distribution centre offers the necessary capacities for the planned further dynamic growth.

 

Further Information: 
Dr Joachim Fleing
Investor Relations
3U HOLDING AG
Tel.: +49 6421 999-1200
Fax: +49 6421 999-1222
E-mail: ir@3u.net

About 3U:
3U HOLDING AG (www.3u.net) has its headquarters in Marburg, Germany, and was founded in 1997. It is the operating management and investment holding company at the head of the 3U Group. It acquires, operates and sells companies in the three segments of ITC (Information and Telecommunications Technology), Renewable Energies and SHAC (Sanitary, Heating and Air Conditioning Technology). The 3U Group has successful and profitable business models based on megatrends in all three segments. It continues to expand its business activities dynamically, particularly in its strongest growth areas of cloud computing and online trading, in which it is striving to achieve leading positions in the market.

3U HOLDING AG’s shares are traded on XETRA, Tradegate and on the German regional stock exchanges (ISIN: DE0005167902; identifier: UUU).

Arne Henne appointed to the Management Board of weclapp SE

  • Chief Revenue Officer will help drive growth course
  • International marketing, sales and management experience

Marburg, 19 August 2021 – The Supervisory Board of weclapp SE, Frankfurt/M., a subsidiary of 3U HOLDING AG (ISIN DE0005167902), has appointed Arne Henne to the company’s Management Board. As Chief Revenue Officer (CRO) of weclapp SE, Arne Henne will decisively drive the growth course of weclapp SE in Germany and internationally and will now take up his position immediately.

Arne Henne (born 1983) brings with him many years of experience in online marketing and sales of innovative technologies as well as in significant management functions at international – also listed – companies and organisations. Among other things, he led the SME business in Europe, Africa and the Middle East (EMEA) at Facebook for several years and subsequently built up the distribution partner business of Yext (www.yext.com), the AI pioneer for online digital search functions, in the same regions.

As part of the continuous implementation of its growth strategy, weclapp SE is thus intensifying its online marketing for its multi-award-winning cloud-based enterprise software (ERP) platform and preparing to enter further European markets. In perspective, weclapp aims to become the preferred ERP solution for SMEs (small and medium-sized enterprises) worldwide.

“In Arne Henne, we are being joined by a leader who has repeatedly opened up international markets for innovative digital B2B products”, emphasises Ertan Özdil, CEO of weclapp SE. “I am looking forward to this new colleague, who will quickly and emphatically help expand weclapp’s international presence with his hands-on mentality and thanks to his experience and successes, for example in international B2B and partner sales, but also in company acquisitions.”

 

Further Information: 
Dr Joachim Fleing
Investor Relations
3U HOLDING AG
Tel.: +49 6421 999-1200
Fax: +49 6421 999-1222
E-mail: ir@3u.net

About 3U:
3U HOLDING AG (www.3u.net) has its headquarters in Marburg, Germany, and was founded in 1997. It is the operating management and investment holding company at the head of the 3U Group. It acquires, operates and sells companies in the three segments of ITC (Information and Telecommunications Technology), Renewable Energies and SHAC (Sanitary, Heating and Air Conditioning Technology). The 3U Group has successful and profitable business models based on megatrends in all three segments. It continues to expand its business activities dynamically, particularly in its strongest growth areas of cloud computing and online trading, in which it is striving to achieve leading positions in the market.

3U HOLDING AG’s shares are traded on XETRA, Tradegate and on the German regional stock exchanges (ISIN: DE0005167902; identifier: UUU).

Reliably Steering a Steady Course: 3U Forecast Confirmed

  • Continued organic growth in key business areas as planned
  • Cloud Computing concludes first contract for company acquisition at the beginning of July
  • Difficult procurement situation in the construction industry, SHAC segment equipped for future growth with new distribution centre

Marburg, 11 August 20221 – In the first half of 2021, the consolidated revenue of 3U HOLDING AG (ISIN DE0005167902) declined compared with the previous year’s period in line with the forecast. Consolidated revenue stood at EUR 27.34 million, down 10.1 % as against the year-earlier figure (H1 2020: EUR 30.41 million). Organic growth in key operational areas has not yet been able to compensate for the assets sold in 2020. The Lüdersdorf wind farm and ClimaLevel Energiesysteme GmbH left the group of consolidated companies in the fourth quarter of the financial year 2020. Their joint contribution to revenue in the first half of 2020 amounted to around EUR 4.22 Million.

Other income of EUR 2.86 million was achieved in the first six months of 2021. Growth compared with the year-earlier period (H1 2020: EUR 1.11 million) is due in particular to the completion of the sale of parts of the Adelebsen property not used by the Company.

Although the cost of materials had declined in comparison with the year-earlier period, the significantly lower share of revenue from the Renewable Energies segment resulted in the cost of materials ratio (cost of materials as a percentage of revenue) rising from 53.1% in the first half of 2020 to 55.2% in the period under review. This ratio reflects the sharp increase in purchase prices in the construction sector as a whole – especially in the second quarter – and therefore also for our SHAC segment. The relatively strong growth of the ITC segment whose operations incur lower material costs was unable to compensate for this effect in the first half of 2021.

As of 30 June 2021, the 3U Group had a workforce of 238 people (including Management Board members, temporary employees and part-time staff); (30 June 2020: 233 people). As a result, personnel expenses advanced slightly to EUR 6.49 million (H1 2020: EUR 6.45 million), and the personnel expenses ratio (personnel expenses as percentage of revenue) came in at 23.8% in the first half year, which is higher than in the year-earlier period (H1 2020: 21.2%). Other operating expenses stood at EUR 4.29 million (H1 2020: EUR 4.21 million). Their share in revenue of 15.7% exceeded the previous year’s level (H1 2020: 13.8%). This is due in particular to increased expenditure in connection with company acquisitions in the cloud computing Business.

Consolidated EBITDA (earnings before interest, taxes, depreciation and amortisation) of EUR 4.59 million was generated in the first six months of the financial year 2021 (H1 2020: EUR 4.69 million). The EBITDA margin (EBITDA as a percentage of revenue) in relation to slightly lower consolidated revenue nevertheless increased from 15.4% in the first six months of 2020 to 16.8% in the reporting period.

A marginally negative consolidated result of EUR –0.35 million was delivered in the second quarter of 2021 (Q2 2020: consolidated result of EUR –0.13 million). In terms of the first six months of 2021, a consolidated net income of EUR 1.47 million was achieved (H1 2020: EUR 0.74 million), which reflects growth of 99.7%. Net earnings per share amounted to EUR 0.04 (basic and diluted).

Segment results
The ITC segment (Information and Telecommunications Technologies) recorded significant organic growth as forecast. The telecommunications business area continued to see an increase in business compared to the strong first half of 2020. The ITC segment revenue rose by an overall 19.9% to EUR 10.83 million (H1 2020: EUR 9.03 million). Business in the area of cloud-based solutions expanded by more than 45% in the first half of 2021 compared with the year-earlier period. The share of cloud computing in segment revenue therefore rose for the first time to more than 40% (H1 2020: in excess of one third).

As part of the measures to combat the COVID-19 pandemic, in particular restrictions on contact, the demand for telecommunications services, also from private individuals, increased significantly in the financial year 2020. This phenomenon did not continue in the first half of 2021. Revenue generated by Voice Retail dropped to EUR 0.95 million, which is marginally below the revenue level achieved in the first half of 2019 (H1 2020: EUR 1.19 million; H1 2019: EUR 1.02 million).

By contrast, the other two areas of Voice Business and Data Centre Services and Operation continued to achieve revenue growth. Voice Business expanded its position as the strongest part of the segment to 72.2 %, lifting its revenue by 11.9% to EUR 3.77 million (H1 2020: EUR 3.37 million). ITC segment revenue rose by an overall 19.9% to EUR 10.83 million (H1 2020: EUR 9.03 Million.

Personnel expenses increased thanks in view of ongoing strong growth in the Cloud Computing segment. Also, one-off costs were incurred for preparing and carrying out of company acquisitions. This led to a temporarily weaker earnings development. The EBITDA margin in weclapp SE decreased from 35.0% (H1 2020) to 28.7% (H1 2021).

These developments resulted in slightly higher earnings also in the ITC segment as a whole. Segment EBITDA of EUR 2.55 million was generated in the first half of 2021 (H1 2020: EUR 2.38 million). The EBITDA margin declined from 26.4% in the first six months of the financial year 2020 to 23.6% in the reporting period.

Several effects have resulted in lower key financials for the Renewable Energies segment in comparison with the year-earlier period. The deconsolidation of the Lüdersdorf wind farm and the lower rate for electricity fed back into the grid from wind turbines no longer subject to subsidies under the German Renewable Energy Sources Act (EEG) also pared down revenue in this segment. In addition, after little wind in the first quarter, the second quarter was also characterised by weaker solar irradiation compared with the first six months of 2020, along with lower wind yield than would normally be expected based on the long-term average.

Whereas, in the strong first half year of 2020, segment revenue of EUR 5.48 million was generated, revenue in the period under review came in at EUR 3.12 million, down 43.1%. Despite the lower level of depreciation and amortisation following the deconsolidation of the Lüdersdorf wind farm, along with a slight improvement in the financial result and lower taxes, the segment result dropped to EUR 0.37 million (H1 2020: EUR 1.55 million).

Revenue generated by the SHAC segment (Sanitary, heating and air conditioning technologies) decreased from EUR 16.11 million in the first six months of 2020 to EUR 13.84 million in the period under review. This development is largely attributable to the disposal of Clima Level Energiesysteme GmbH that left the consolidated group in the fourth quarter of 2020 – this company contributed EUR 3.62 million to segment revenue in the first half of 2020. Continued operations, essentially in 3U’s online trading, reported organic growth of 10.8%.

However, business in the SHAC segment was impacted by the shortage of commodities and materials observed across the entire construction industry, which resulted in the price of raw materials and components surging. This affected not only other brand products but also the segment’s proprietary brand products. Suppliers had already issued warnings prior to their massive and currently worsening difficulties in procuring raw materials and components. The relocation to the new distribution centre also contributed to enabling deliveries from the online retailing business to customers to continue where possible. By the second quarter of 2021, however, delivery problems of manufacturers resulted in the processing of a notable number of existing orders being delayed. The SHAC segment’s cost of materials increased again in the first half of 2021, from 78.6% to 79.9%, mostly due to these external circumstances.

EBITDA nevertheless increased, from EUR –0.56 million in the previous year’s period to EUR –0.22 million in the first half of 2021. In the first six months of 2021, personnel expenses declined, both in absolute and relative terms: The personnel expenses ratio (personnel expenses as a percentage of revenue) decreased from 13.2% (H1 2020) to 10.2%. Other operating expenses settled at the year-earlier level. An improved, albeit negative, segment result was delivered in the first half of 2021 (H1 2021: EUR –0.48 million; H1 2020: EUR -0.80 million).

Revenue of EUR 0.73 million was reported under Other Activities in the first half of 2021 (H1 2020: EUR 1.00 million). This revenue largely consists of income from management services.

Both the personnel expenses and other operating expenses in Other Activities/Reconciliation exceeded the year-earlier level in the first half of 2021. Expenditure for employees in the holding company stood at EUR 1.52 million (H1 2020: EUR 1.48 million). Other Activities’ other expenses amounted to EUR 1.41 million (H1 2020: EUR 1.34 million). EBITDA came in at EUR –0.18 million (H1 2020: EUR -1.66 million).

Key financial figures remain at a good Level
The cash inflow from operating activities totalled EUR 2.61 million in the first half of 2021 (H1 2020: cash inflow of EUR 0.91 million). Investing activities resulted in a cash outflow of EUR 0.70 million (H1 2020: cash outflow of EUR 1.72 million). Cash inflow from the disposal of parts of the Adelebsen property not used by the company was offset by cash outflow in the first half of 2021 for the completion of the new distribution centre in Koblenz and for the construction of a property in Würzburg.

In addition to payments for the redemption of financial loans and leasing liabilities amounting to EUR 1.34 million (H1 2020: cash outflow of EUR 1.47 million), the distribution of dividend to the shareholders of 3U HOLDING AG and to minority interest of EUR 1.78 million (H1 2020: cash outflow of EUR 1.41 million) led to a cash outflow from financing activities of EUR 2.54 million (H1 2020: EUR 2.88 million. Free cash flow in the first six months of the 2021 financial year reached EUR 1.91 million (H1 2020: negative free cash flow EUR 0.81 million).

Total assets came in at EUR 87.21 million on 30 June 2021, reflecting an increase of EUR 1.31 million compared with 31 December 2020 when they amounted to EUR 85.90 million. The balance sheet extension is mainly due to the completion of the new distribution centre in Koblenz capitalised under property, plant and equipment. A countereffect emanated from the position comprising assets held for sale (Adelebsen) of EUR 3.16 million which is no longer included. Changes in current assets are largely business or reporting-date related.

Working capital (current assets minus current liabilities) amounted to EUR 30.50 million (31 December 2020: EUR 31.51 million).

Non-current and current financial liabilities were reduced slightly by EUR 0.21 million. As of 30 June 2021, they still stood at EUR 16.89 million compared with EUR 17.10 million on 31 December 2020. Non-current and current leasing liabilities amounted to EUR 2.69 million on 30 June 2020, down EUR 0.35 compared with year-end 2020 (31 December 2020: EUR 3.04 million). By the end of the first half year, the provisions of EUR 1.55 million had dropped only marginally below the 2020 balance sheet date (EUR 1.65 million).

After accounting for the dividend payment and thanks to consolidated net income for the period of EUR 1.47 million, consolidated equity amounted to EUR 51.94 million (31 December 2020: EUR 52.00 million). At the end of the first six months of 2021 the equity ratio therefore remained virtually unchanged at 59.6% (31 December 2020: 60.5%). The gearing ratio rose slightly to 67.9% as of 30 June 2020, up from 65.2% on 31 December 2020.

Forecast confirmed
In spite of the aforementioned challenges in the SHAC segment, the Management Board reaffirms its forecast for the financial year 2021 published in March 2021 and anticipates consolidated revenue at the year-earlier level. The lack of revenue from the sold participations in ClimaLevel Energiesysteme GmbH and the Lüdersdorf wind farm is not expected to be fully compensated for by the strong organic growth of the remaining business areas. In 2021, sales revenues in the range of EUR 58 million to EUR 63 million are expected to be generated. In addition, income in the single-digit million range from the sale of assets has been included in the planning. With regard to EBITDA, the Management Board expects a slightly higher result before interest, taxes, depreciation and amortisation of between EUR 11 million and EUR 13 million in view of the measures introduced to strengthen earnings and the increasing share of higher-margin business. Net earnings of the 3U Group are therefore expected in a range of between EUR 2 million and EUR 4 million.

Events since the end of the interim reporting period
Since the end of the reporting period, Group company weclapp SE concluded an agreement with the shareholders of Karlsruhe-based ITscope GmbH on 8 July 2021. Under this agreement, weclapp acquires all the shares in ITscope. At the time when this interim financial report was being drawn up, the completion of the transaction was contingent on conditions precedent, the entering of the capital increase into the commercial register in particular. This, in turn, depends on the expert opinion of the court-appointed auditor of the non-cash contribution.

On 26 July 2021, taking account of current capital market developments and other factors, weclapp SE’s Management Board decided to determine a date for a potential launch of the company on the stock exchange, set rather more in the second half of the period announced in April 2021, specifically over the course of the first half of 2022. The decision has no impact on the forecast of the 3U Group.

“We are resolutely implementing our growth strategy, working rigorously on increasing the company’s value for you, and in the first half of the financial year 2021 we have achieved further milestones,“1underlines Michael Schmidt, Speaker of the Management Board 3U HOLDING AG. “The recently acquired ITscope GmbH offers an ideal addition to weclapp’s range of services; we are making suitable preparations for the possible IPO of weclapp SE; the move to the new distribution centre is already proving to be a benefit during extremely turbulent times throughout the construction industry. In these exciting times, with many challenges and many steps in the right direction, we are reliably steering a steady course and are implementing our growth strategy and our commitments step by step: We confirm our forecast for the current financial year.”

Half-year financial report
The interim financial report for the first six months of the 2021 financial year will be published today, 11 August 2020. It can be downloaded from the company’s website (www.3u.net) under “Investor Relations/Reports”.

 

Further Information: 
Dr Joachim Fleing
Investor Relations
3U HOLDING AG
Tel.: +49 6421 999-1200
Fax: +49 6421 999-1222
E-mail: ir@3u.net

About 3U:
3U HOLDING AG (www.3u.net) has its headquarters in Marburg, Germany, and was founded in 1997. It is the operating management and investment holding company at the head of the 3U Group. It acquires, operates and sells companies in the three segments of ITC (Information and Telecommunications Technology), Renewable Energies and SHAC (Sanitary, Heating and Air Conditioning Technology). The 3U Group has successful and profitable business models based on megatrends in all three segments. It continues to expand its business activities dynamically, particularly in its strongest growth areas of cloud computing and online trading, in which it is striving to achieve leading positions in the market.

3U HOLDING AG’s shares are traded on XETRA, Tradegate and on the German regional stock exchanges (ISIN: DE0005167902; identifier: UUU).