3U HOLDING AG: Share Option Scheme 2018 marks start to the exercise phase

  • Issuing of a maximum of 1,625,998 new shares from Contingent Capital
  • First exercise window: 7 to 9 December 2022
  • Exercise price: EUR 1.42 per share

Marburg, 22 November 2022 – The Share Option Scheme 2018 for employees and managers in the Group of 3U HOLDING AG (ISIN DE0005167902) will enter into the exercise phase in December 2022 upon expiry of the four-year vesting period. For some subscribers to the first tranche of the scheme, launched in December 2018, the first exercise window opens from 7 to 9 December 2022. A maximum of 853,332 options can be exercised during this window. A second window opens upon release of the provisional figures for the financial year 2022 and closes on 9 March 2023. In this instance, options for another 616,666 shares from the first tranche can be exercised for the first time. Up to another 156,000 options can be exercised for the first time as from the third quarter of 2023.

The exercise price for the option rights amounts to EUR 1.24 per share. The company’s share capital will be increased to the extent that holders of option rights exercise their options. The new shares participate in profit as from the beginning of the financial year for which, at the time when the option rights are exercised, no resolution of the Annual General Meeting has yet been passed on the appropriation of profit.

The company has issued and submitted a global certificate for up to 1,625,998 shares in total. Admission of the new shares to trading will be applied for. The company will publish updated total number of voting rights announcements at the end of the respective month, as appropriate.

 

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

About 3U:
Founded in 1997, 3U HOLDING AG (www.3u.net) is based in Marburg, Germany. It heads up the 3U Group as the operating management and investment holding company. 3U HOLDING AG acquires, operates, and sells companies in its three segments of ITC (Information and Telecommunications Technology), Renewable Energies and SHAC (Sanitary, Heating and Air Conditioning Technology) for the purpose of increasing value for its shareholders, employees, customers, suppliers, and all stakeholders. The 3U Group operates successful and profitable business models based on megatrends in all three segments and strives to achieve leading positions in the market, in particular through its e-commerce operations.

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

Sale of stake in InnoHubs GmbH to co-shareholder completed

  • Strengthening of equity position – deconsolidation causes significant changes in the balance sheet as expected
  • Sale of participation supports the expectation that earnings forecasts for the 2022 financial year will be exceeded to a considerable extent

Marburg, 13 September 2022 – 3U HOLDING AG (ISIN DE0005167902) has sold its stake in InnoHubs GmbH to co-partner WüWi Beteiligungsgesellschaft mbH, Wuerzburg. A contract on the transaction was signed on 2 June 2022 and completed as expected by 1 September 2022. The strategic goal of increasing value for the stakeholders of 3U was thus successfully implemented also with this project.

In line with the progress of the construction project, the balance sheet total of the 3U Group had increased significantly in recent months. With the closing of the sale of the investment, this development is reversed and the balance sheet total decreases again. Significant effects are in particular the deconsolidation of the pertinent property, plant and equipment and a significant reduction in the short-term receivables from buyers of space associated with the construction project. At the same time, the inflow of the purchase price of EUR 6.5 million and the repayment of the loan granted to InnoHubs GmbH improve the available liquidity position of the group.

In line with the progress of the construction project, the balance sheet total of the 3U Group has increased significantly in recent months. With the completion of the sale of the stake in InnoHubs, this development will reverse, and the balance sheet total will decrease again. Subsequent effects are in particular the derecognition of property, plant and equipment and a significant reduction in the short-term receivables from buyers of space associated with the construction project. At the same time, the inflow of the purchase price will improve the group’s available liquidity position.

The deconsolidation of the property development loan reduces liabilities to banks at group level and the income from the sale contributes to strengthening equity. At the same time, the minority interests in equity are reduced by the other shareholder’s share in the sold InnoHubs GmbH. The equity ratio will therefore increase significantly due to the reduction in the balance sheet. Effects on earnings and other balance sheet changes as a result of the sale will also be shown in detail in the Q3 consolidated financial statements as of 30 September 2022, as will the deconsolidation of weclapp SE and its subsidiaries ITscope GmbH and FinanzGeek GmbH.

The Management Board emphasises that the balance sheet effects of this transaction do not significantly exceed or fall short of their estimates in the planning. In connection with the sale of weclapp SE to a subsidiary of Exact Group B.V. agreed on 3 September 2022, the sale of the shares in InnoHubs GmbH also supports the expectation that the earnings forecasts for the 2022 financial year will be exceeded to a considerable extent.

The deconsolidation of the property developer loan significantly reduces liabilities to financial institutions at group level. The other income from the sale contributes to strengthening equity. At the same time, the minority interests in equity are reduced by the co-partner’s share in the sold InnoHubs GmbH. As a result, and due to the balance sheet contraction, the equity ratio will increase noticeably.

“Our declared corporate purpose is to increase value for our shareholders and all stakeholders,” emphasises Uwe Knoke, responsible for strategy and business development on the Management Board of 3U HOLDING AG. “With diligent analysis, we identify projects, participations and investment opportunities with value enhancement potential and, if possible, develop them to successful completion. The InnoHubs project is another example of such a profitable venture. The gratifying current inflow of funds considerably expands our room for manoeuvre, and we will know how to use it responsibly.”

 

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 For the purpose of increasing value for its shareholders, employees, customers, suppliers and all stakeholders, it acquires, operates and sells companies in the three segments 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 and is striving to achieve leading positions in the market, in particular with its e-commerce business area.
3U HOLDING AG’s shares are traded on XETRA, Tradegate and on the German regional stock exchanges (ISIN: DE0005167902; identifier: UUU).

3U HOLDING AG sells stake in weclapp SE and realises increase in value

Disclosure of insider information pursuant to Art. 17 MAR

    • Sale of shares to a subsidiary of Exact Group B.V., Delft, the Netherlands, agreed
    • The agreement is based on an assumed equity value of around EUR 227 million

Marburg, 3. September 2022 – 3U HOLDING AG (ISIN: DE0005167902) has today signed an agreement with a subsidiary of Exact Group B.V., Delft, the Netherlands, on the sale of all shares it holds in weclapp SE. The sale implies an equity value of around EUR 227 million for all shares. 3U HOLDING AG holds around 71 % of the shares. The transaction is not subject to any closing conditions and is expected to be completed in September 2022. Ertan Özdil remains CEO of weclapp SE; companies, brands and products of weclapp will be continued.

3U HOLDING AG realises a significant increase in value through the separation from weclapp SE. The Management Board of 3U HOLDING AG expects that the sales forecast for the 2022 financial year will be achieved, as the weclapp SE subgroup will not be deconsolidated but after the closing of the transaction. On the other hand, the income from the transaction will reach the lower three-digit million-euro range for EBITDA and consolidated earnings, so that the earnings forecasts will be exceeded to a considerable extent.

The Management Board and Supervisory Board are considering allowing the shareholders to participate in the success of the transaction by distributing an appropriate dividend for the 2022 financial year.

 

Information published by:
Dr. Joachim Fleïng
Head of Investor Relations
Tel.: +49 (0)6421 999-1200
Fax: +49 (0)6421 999-1222
email: ir@3u.net

Issuer
3U HOLDING AG
Frauenbergstr. 31-33
35039 Marburg
Germany
LEI: 529900VVQ4470YJ67K26
Commercial Register: District Court Marburg HRB 4680
ISIN DE0005167902
Trading venues:
XETRA
Tradegate
Frankfurt, Berlin, Hamburg/Hanover, Düsseldorf, Munich, Stuttgart

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).

3U subsidiary Selfio expands product range with online planning software

  • Online configurator enables do-it-yourselfers to plan their underfloor heating systems themselves
  • Item parts lists are updated in real time with availability and can be placed directly in the shopping basket

Marburg, 30. August 2022 – Selfio GmbH, a wholly owned subsidiary of 3U HOLDING AG (ISIN: DE0005167902), has expanded its product and consulting portfolio to include an online configurator for underfloor heating systems. For the first time, customers can now also plan their underfloor heating projects themselves and online via the site https://fussbodenheizung-konfigurator.selfio.de/.

With this innovative service, Selfio is further expanding its position as one of the leading online suppliers of high-quality underfloor heating systems.

The online system was realised internally by a development team of 3U subsidiary weclapp SE on the basis of Selfio’s many years of experience with underfloor heating systems. It is an innovative, fully-fledged tool for online project design and calculation: With the input of the required planning parameters, it automatically calculates the layout of the entire underfloor heating system, the required components and materials and provides a complete and reliable product list. The customer’s individual wishes and preferences are taken into account. The resulting shopping basket is based on current article information and stock levels or availability at the online shop selfio.de, and delivery and price conditions are displayed. The information for customers is thus always up to date and can be directly converted into orders.

Under the motto “Do it yourself. But do it right!”, Selfio offers a comprehensive service to do-it-yourselfers and sees itself as a partner in the implementation of construction, renovation, and modernisation projects. In addition to the material in the online shop with heating, air conditioning and sanitary technology products, Selfio also offers expert advice in the form of explanatory videos and tutorials. The configurator supplements and expands this range of advice with an essential, innovative element.

“Helping our customers to make their project a success: That is our mission. We offer them innovative solutions that make building and renovating easier, cheaper, more climate friendly. This has always included intensive advice – online and in person – so that our customers can tackle even large projects on their own. With the underfloor heating configurator, we simplify their planning considerably. With such customer-friendly service and high quality, we are laying the foundations for further growth and increasing profits,” emphasises Selfio Managing Director Roger Moore.

Background: On average, 70 percent of household energy costs in Germany are caused by heating. Underfloor heating systems play an important role in implementing the energy transition and reducing costs in the private building sector. The energy-efficient surface heat makes it the ideal partner for modern heating systems to reduce CO2 emissions. With strategic product development and expansion of the portfolio of own brands, Selfio offers a comprehensive range of underfloor heating systems that meet the requirements of different installation situations and are just as suitable for retrofitting in existing buildings as for new ones.

 

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 Selfio:
Selfio GmbH is a supplier of high-quality building technology products with a focus on sanitary, heating, air conditioning (SHK) and products such as underfloor heating, controlled domestic ventilation and water treatment as well as heat pumps, solar thermal systems, pumps and chimneys. Selfio supports DIY enthusiasts and do-it-yourselfers in projects with its professional planning service for both new construction and renovation projects. In addition, Selfio provides extensive video tutorials and product presentations and, in combination with its technical pre-calculations (quick designs), offers services for everyone.

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 makes its contribution to the expansion of onshore wind energy

  • Application submitted for repowering project at Langendorf wind farm
  • Significantly higher electricity production if realised
  • High investment volume with good return

Marburg, 23. August 2022 – 3U ENERGY PE GmbH, a subsidiary of 3U HOLDING AG (ISIN DE0005167902), has submitted an application for approval in accordance with the Federal Immission Control Act (BImschG) to the Burgenlandkreis, Saxony-Anhalt, for the partial repowering of its Langendorf wind farm. The plan is to erect five wind turbines (WT) with a nominal output of 6.2 MW. The measures will sustainably almost triple the energy yields of the park, despite a reduction in the number of WTs. Additional yields of approximately 72,000 MWh per year are expected.

The investment volume, including the dismantling of seven old turbines, will amount to about EUR 40 million and is to be financed mainly with a bank loan. The profitability calculations have been made on the basis of conservative assumptions for wind generation and prices achievable on the market. They indicate a sustainable return of around 5% per year from the operation of the wind turbines.

“Sustainable use of renewable energies is not only urgently needed from an ecological and energy industry point of view but is also a successful model from an economic point of view,” emphasises Uwe Knoke, member of the Management Board of 3U HOLDING AG. “This certainty also guides us in the planned and now applied for repowering project. At a time when outdated bureaucratic obstacles and reservations that still exist in many places have significantly impaired the expansion of onshore wind energy, we are investing a considerable amount in the expansion of our capacities. We are taking more than five years of preparation and approval time and have rented a van to submit the unfortunately still required flood of paperwork, a total of about 80 A4 folders, to the approval authority; but we will make our small contribution to sustainable CO2-free power generation and to further value creation for our shareholders.”

3U HOLDING’s portfolio includes 3 wind farms with a combined nominal capacity of currently around 43 MW, a photovoltaic power plant with a nominal capacity of around 10 MWp, as well as a number of other, smaller solar power plants. The 3U wind turbines no longer receive any subsidies under the Renewable Energy Sources Act (EEG). The electricity generated is marketed to utilities with whom electricity supply contracts are concluded. 3U was able to secure favourable conditions for electricity deliveries for 2023, thanks to which the average electricity revenues will be above the former EEG subsidy.

 

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’s consolidated revenue up by 22% in the first six months of 2022, rising to 25% in the second quarter

  • All three segments report partly substantial revenue growth
  • Earnings performance fully in line with expectations, EBITDA margin reaches 17.4%, adjusted EBITDA to 19.6%
  • Statement of financial position temporarily impacted by sale of the shares in InnoHubs GmbH, with closing imminent
  • Forecast for the 2022 financial year confirmed

Marburg, 10 August 2022 – 3U HOLDING AG (ISIN: DE0005167902) recorded a sharp increase in its consolidated sales in the first half of 2022 (H1 2022) compared with the year-earlier period (H1 2021). Earnings came in at EUR 33.40 million, reflecting a year-on-year increase of 22.1% (H1 2021: EUR 27.34 million). All three segments contributed to this growth. The ITC segment generated a share of 42.6% (H1 2021: 39.6%) in consolidated revenues, while the Renewable Energies segment delivered 12.4% (H1 2021: 11.4%) and the SHAC segment 46.1% (H1 2021: 50.6%).

As a result of the greater numbers of personnel in Cloud Computing, both new staff hired and the additional employees in the subsidiaries acquired in 2021, the Group’s personnel expenses rose disproportionately to EUR 10.01 million (H1 2021: EUR 6.49 million). The personnel expenses ratio (personnel expenses as percentage of revenue) posted 30.0% in the first half year, thereby significantly exceeding the year-earlier figure (H1 2021: 23.8%).

Profitability was nevertheless improved in the first six months of the financial year 2022 and EBITDA (earnings before interest, taxes, depreciation and amortisation) of EUR 5.81 million was achieved (H1 2021: EUR 4.59 million). The EBITDA margin (EBITDA as a percentage of revenue) in relation to substantially higher consolidated revenue increased from 16.8% in the first six months of 2021 to 17.4% in the reporting period.

Adjusted for non-recurrent expenses in connection with a possible IPO and other financing options of weclapp SE, EBITDA would have come in at EUR 6.54 million (H1 2021: EUR 4.73 million), which corresponds to an adjusted EBITDA margin of 19.6% (H1 2021: 17.3%).

Depreciation and amortisation amounted to EUR 2.41 million in the first half of 2022 (H1 2021: EUR 2.01 million). The increase is primarily attributable to the higher level of depreciation due to the acquisition of ITscope GmbH.

The financial result which stood at EUR –0.25 million fell only marginally short of the first six months of 2021 (H1 2021: EUR –0.20 million). On the other hand, tax expenses rose to EUR 1.09 million in the first half of 2022 (H1 2021: tax expense of EUR 0.70 million).

A positive consolidated result of EUR 0.31 million was delivered in the second quarter of 2022 (Q2 2021: consolidated result of EUR –0.35 million). In terms of the first six months of 2022, consolidated net income of EUR 1.69 million was achieved (H1 2021: EUR 1.47 million), reflecting an increase of 15.0%. Group earnings per share (basic and diluted) therefore stood at EUR 0.05 in the first six months of the financial year 2022.

Segment results

The ITC segment delivered strong revenue growth again. Segment revenue rose by 31.4% to EUR 14.23 million in the first six months of 2022 (H1 2021: EUR 10.83 million). With growth of 77.8%, the Cloud Computing business in the weclapp SE subgroup remains the key driver of expansion within the Group and in the ITC segment. ITscope GmbH, acquired in 2021, also contributed to this growth. As a result, the share of Cloud Computing in segment revenue rose to almost 60% as against only one third in the first half of 2021.

As expected, the revenue growth of weclapp SE as a separate company accelerated in the second quarter compared with the first quarter of 2022 (year-on-year revenue growth came in at 32.2% in Q2 2022 as against 19.2% in Q1 2022). A comparison of the figures posted in June 2022 and in June 2021 shows that monthly recurring revenues (MRR) as a factor decisive for the future grew faster than weclapp SE’s revenue in the first six months of 2022 (MRR growth in June 2022 versus June 2021: 29.9%; weclapp SE’s revenue growth in H1 2022 versus H1 2021: 25.6%).

At EUR 2.44 million, ITscope GmbH’s revenue also fully meets expectations. Compared with the year-earlier period (H1 2021: EUR 4.68 million), revenue of weclapp SE as a separate company recorded strong growth to EUR 5.88 million in the first six months of 2022.

At EUR 5.63 million, the Telecommunications business line generated sales revenue at the year-earlier level, thereby meeting expectations (H1 2021: EUR 5.70 million). The slight decline in Voice Retail and Voice Business was offset by growth in data centre services. Management intends to continue its pursuit of the underlying strategy which consists of compensating the declines anticipated in Voice Retail by generating growth in other parts of the Group’s operations.

Against the backdrop of the successful hiring of additional personnel in the area of cloud-based solutions, along with the employees joining in the companies acquired in 2021, personnel expenses in the ITC segment have more than doubled: from EUR 3.44 million to EUR 7.01 million. The personnel expenses ratio rose accordingly, from 31.8% to 49.3%. The proportion of other operating expenses as a percentage of revenues also increased, from 15.3% to 21.5%, which was due, among other things, to the aforementioned increase in expenditure in connection with company acquisitions in Cloud Computing and to preparations for a possible IPO and other financing options of weclapp SE.

The higher costs pared down the segment results. Segment EBITDA of EUR 1.85 million was generated in the first half of 2022 (H1 2021: EUR 2.55 million). The EBITDA margin declined from 23.6% in the first six months of the financial year 2021 to 13.0% in the reporting period.

Net of these extraordinary expenses in Cloud Computing, adjusted EBITDA would have amounted to EUR 2.58 million, corresponding to an adjusted EBITDA margin of 18.1%.

The result of the ITC segment stood at EUR 1.00 million in the first six months of 2022, down 38.0% year on year (H1 2021: EUR 1.61 million), which was essentially due to the higher costs.

Wind yield and solar irradiation was considerably more powerful in the first six months of 2022 than in the year-earlier period when there was little wind. The favourable weather conditions, along with significantly improved power purchase agreement conditions, boosted the Renewable Energies segment’s key performance indicators. Whereas, in the first half of 2021, segment revenue of EUR 3.12 million was generated, revenue in the period under review came in at EUR 4.15 million, reflecting growth of 33.0% in the first six months of 2022.

Segment EBITDA of EUR 3.27 million in the first half of 2022 also significantly exceeded the figure of EUR 2.44 million posted in the year-earlier period. Against the backdrop of generally consistent cost ratios in the period under review, the Renewable Energies segment’s EBITDA margin of 78.8% approximated the year-earlier level of 78.3%, however. The segment result was raised substantially to EUR 1.59 million (H1 2021: EUR 0.37 million), which was also attributable to the lower level of depreciation and amortisation.

The SHAC segment which comprises our 3U e-commerce operations has returned to its growth trajectory following a difficult year in 2021. The segment’s revenue rose by 11.3% to EUR 15.40 million in the period under review, up from EUR 13.84 million in the first six months of 2021.

This segment’s business is nevertheless adversely affected by the drastic price hikes in materials and components observed across the entire construction industry. While this trend triggered a slight increase in the cost of materials ratio to 81.2% (H1 2021:79.9%), the measures introduced to lower other expenses and to enhance efficiency served to improve earnings performance. The proportion of other costs in revenue declined from 12.2% in the first half of 2021 to 10.0% in the first six months of 2022. EBITDA improved from EUR –0.22 million in the previous year’s period to EUR –0.06 million in the first half of 2022. Positive segment EBITDA of EUR 0.12 million was generated in the second quarter (Q2 2021: EUR -0.28 million). Personnel expenses rose slightly in the first half of 2022: The personnel expenses ratio (personnel expenses as a percentage of revenue) nevertheless decreased from 10.2% (H1 2021) to 9.5%.

Despite improvements in the second quarter of 2022, another negative segment result was delivered in the first half of 2022 (H1 2022: EUR -0.53 million; H1 2021: EUR -0.48 million). The initiatives introduced in procurement and for the purpose of raising process and cost efficiency are aimed at improving earnings.

Revenue of EUR 0.96 million was reported under Other Activities in the first half of 2022 (H1 2021: EUR 0.73 million). This revenue largely pertains to intra-group management services.

Other income of EUR 3.16 million (H1 2021: EUR 2.08 million) was generated in the first half-year, in particular from the sale of units and further progress made in construction of the InnoHubs property.

Both the personnel expenses and other operating expenses from other activities exceeded the year-earlier level in the first half of 2022. Expenditure for employees in the holding company totalled EUR 1.45 million (H1 2021: EUR 1.52 million). Other expenses from other activities amounted to EUR 1.23 million (H1 2021: EUR 1.41 million). EBITDA came in at EUR 1.44 million (H1 2021: EUR –0.12 million). The result from Other Activities/Reconciliation of kEUR –0.37 remained in negative territory in the first half of 2022. In the year-earlier period, the result from this area almost reached breakeven at EUR –0.02 million.

Summary of second quarter results

The first quarter is generally stronger in terms of revenue and results than the second. Consolidated revenue in the second quarter of 2022 declined only marginally by 1.6% compared with the first quarter of the year. As against the second quarter of 2021 when EUR 13.24 million was generated, consolidated revenue rose 25.0% to EUR 16.56 million. The SHAC segment performed especially well in a year-on-year comparison of quarters, raising its revenue by 21.5% to EUR 7.86 million in the second quarter of 2022, up from EUR 6.47 million in the previous year’s period.

Over the period from April to June 2022, the Group generated EBITDA of EUR 2.04 million, reflecting a sharp increase compared with the year-earlier figure (EUR 1.24 million). The EBITDA margin advanced to 12.3% in the second quarter of 2022 compared with 9.3% in the year-earlier period. Accordingly, the Group recorded profit for the period of EUR 0.31 million in the second quarter of 2022 following a loss in the same period in 2021 (Q2 2021: EUR -0.35 million).

Net assets and financial position

Total assets had increased to EUR 136.58 million as of 30 June 2022 (31 December 2021: EUR 119.05 million). The balance sheet extension is essentially due to events in connection with the InnoHubs building project. From 3U HOLDING AG’s standpoint, the project has meanwhile been brought to a successful conclusion. In the second quarter of 2022, a contractual agreement was reached specifying the sale of 3U HOLDING AG’s participating interest in InnoHubs GmbH to the co-shareholder. This process is scheduled for completion in the third quarter of 2022. The assets and liabilities pertaining to InnoHubs were therefore reclassified in the interim financial statements as at 30 June 2022 and disclosed separately as held for sale. On the assets side, this relates to assets of EUR 34.50 million. Specifically, the value of construction progress amounting to EUR 9.68 million, trade receivables of EUR 6.37 million from buyers of units in the office complex, as well as the balance on the developer account of EUR 17.64 million were items reclassified to this position. The corresponding items of non-current and current assets were adjusted in the process of these transfer postings.

Along with the reclassifications, the decline in current trade receivables is attributable to payments remitted by the buyers of units in the InnoHubs complex. Including time deposits and restricted cash deposited as collateral of EUR 2.80 million, the 3U Group had cash and cash equivalents of EUR 10.80 million at its disposal as of 30 June 2022 (31 December 2021: EUR 12.72 million).

The assets held for sale item is offset by reclassified liabilities amounting to EUR 23.69 million in connection with the disposal, essentially comprising loans to finance the construction.

Non-current and current financial liabilities declined by EUR 9.72 million. As of 30 June 2022, they stood at EUR 21.16 million compared with EUR 30.88 million on 31 December 2021. Non-current and current leasing liabilities totalled EUR 3.67 million on 30 June 2022, down EUR 0.49 million compared with year-end 2021 (31 December 2021: EUR 4.16 million).

The increase in current trade payables which rose by EUR 2.18 million to EUR 6.07 million (31 December 2021: EUR 3.88 million) is largely due to business developing well in the subgroup of weclapp SE where customer prepayments incurred trade payables from usage of the software, but partly also due to higher levels of goods purchased and deliveries as of the reporting date in the e-commerce business.

Group equity settled at EUR 62.79 million (31 December 2021: EUR 62.11 million). At the end of the first half of 2022, the equity ratio stood at around 46.0% due to the balance sheet extension (31 December 2021: 52.2%). Equity attributable to shareholders of the parent company posted EUR 55.46 million (31 December 2021: EUR 55.25 million).

The cash inflow from operating activities totalled EUR 2.18 million in the first half of 2022 (H1 2021: EUR 2.61 million). Other non-cash changes resulted in an adjustment of EUR 5.21 million (H1 2021: cash inflow of EUR 0.01 million). These changes result from the balance of the aforementioned reclassifications into assets and liabilities held for sale.

Cash outflow from investment activity stood at EUR 3.52 million (H1 2021: cash outflow of EUR 0.70 million). Investment in property, plant and equipment pertains to weclapp SE’s acquisition of office space in the InnoHubs building. The investment in intangible assets results from own work capitalised at subsidiary ITscope GmbH.

Disbursements for the repayment of loans and leasing liabilities in an amount of EUR 1.39 million (H1 2021: cash outflow of EUR 1.34 million) and payments of EUR 1.77 million (H1 2021: cash outflow of EUR 1.78 million) to 3U HOLDING AG’s shareholders and minority interest were offset by borrowing of EUR 2.59 million (to finance construction work on the InnoHubs building complex). Cash outflow from financing activity therefore came in at EUR 0.57 million (H1 2021: EUR 2.54 million).

The key financials as of 30 June 2022 are partly of little informative value due to the agreed, but not yet concluded, sale of the shares in InnoHubs GmbH. The debt-to equity ratio advanced to 117.5% (31 December 2021: 91.7%). Net indebtedness (current and non-current financial liabilities minus cash holdings) stood at EUR 10.36 million as of 30 June 2022 (31 December 2021: EUR 18.16 million). Working capital (current assets minus current liabilities) amounted to EUR 16.42 million (31 December 2021: EUR 34.21 million).

Forecast for 2022 confirmed

The Management Board confirmed the guidance issued in March and anticipates a double-digit increase in consolidated revenue, which will derive support from the strong organic growth of the operating units in the financial year 2022. Sales revenue in 2022 is expected to settle within a range of between EUR 65 million and EUR 70 million. Moreover, earnings in the single-digit million range from the disposal of assets have been incorporated into planning. In view of the measures introduced to strengthen profitability, on the one hand, and the higher level of expenses for expanding cloud computing, on the other, the Management Board anticipates earnings before interest, depreciation and amortisation of EUR 10 million to EUR 12 million. Profit of the 3U Group is therefore expected in a range of between EUR 2 million and EUR 4 million.

The actual performance of business may be higher or lower than forecast here due to the acquisition of companies by 3U HOLDING AG or other Group companies, or from selling operating units of the Group. The resulting effects can only be planned for to limited extent, however.

Predicting with any degree of certainty to what extent the war in Ukraine, potential further interest rate hikes by central banks, or even recently more stringent economic restrictions imposed to combat the COVID-19 pandemic, will impact on business activities is not possible.

Half-year financial report

The half-year financial report on the first half of the 2022 financial year will be published on today, 10 August 2022. The report can be downloaded from the company’s website (www.3u.net) under the “Investor Relations/Publications” 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).

weclapp presents complete, audited consolidated financial statements and group management report for the first time in the annual report 2021

  • Group turnover grows by 63.5 % compared to the previous year
  • weclapp SE establishes sustainable structures for future growth

Marburg, 21 July 2022 – weclapp SE, a subsidiary of 3U HOLDING AG (ISIN DE0005167902), has presented its annual report for the year 2021., Thus, results for the weclapp Group are available for the first time. The published figures underpin the focused growth course of the 3U subsidiary and at the same time reflect the successful acquisitions of two companies as well as the integration of these new subsidiaries into the weclapp Group: ITscope GmbH is a provider of a B2B platform for eProcurement for IT service providers, FinanzGeek GmbH is a developer of an order and financial management platform for micro enterprises.

The income statement of the newly formed group includes the expenses and income of the two acquired subsidiaries for the months October 2021 to December 2021 by way of consolidation. In the financial year 2021, the newly formed weclapp group achieved consolidated revenues of EUR 11.98 million (2020: EUR 7.33 million per individual financial statement). This corresponds to a revenue growth of the group of 63.5 %. Revenues in this period were contributed to a small extent by FinanzGeek GmbH, whose product is still to be launched on the market, ITscope GmbH in the amount of EUR 1.17 million and weclapp SE in the amount of EUR 10.99 million (2020: EUR 7.33 million); this results in a revenue growth of the individual company weclapp SE in the amount of almost 50 %.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) were EUR 0.73 million below the previous year’s result at EUR 1.90 million. Adjusted for necessary expenses for M&A projects and IPO preparations, the adjusted EBITDA for the weclapp Group amounts to EUR 2.99 million. This corresponds to an adjusted operating EBITDA margin of 24.96 %.

“2021 was characterised by events that were very time-consuming and costly: IPO preparations, two company acquisitions and their structural and technical integration. In filling key positions in our process-oriented organisation, we were able to attract talent to drive the topics of product development, customer success, sales, and our sales-oriented marketing. These were and are the foundations for our further growth. Our platform solutions meet the high digitalisation needs of small and medium-sized enterprises – they drive the automation of business processes and companies gain competitive advantages in the process. Through our proven product feedback loop, we know the needs of SMEs and offer them suitable solutions with software-as-a-service,” says Ertan Özdil, founder and CEO of weclapp.

Since the 2019 reporting year, weclapp SE has voluntarily presented an annual report with audited and certified financial statements to provide the capital market with transparency as a growth company, which comprehensively supplements the reporting of the parent company 3U HOLDING AG.

The annual report is available in German Language on the website of weclapp SE https://www.weclapp.com/de/ueber-uns/ and 3U HOLDING AG https://www.3u.net/investor-relations/berichte.html.

 

Further Information: 
Dr Stephanie Nickel
Investor Relations
3U HOLDING AG
Tel.: +49 6421 999-2211
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 AG can continue Voice Retail business for two more years

  • 3U Group companies join agreement on continuation of call-by-call
  • Call-by-call and Preselection fixed-line telephony possible until 31 December 2024
  • Contract extension strengthens business in the ITC segment

Marburg, 14 June 2022 – 3U HOLDING AG (ISIN DE0005167902) can continue its traditional Voice Retail business for another two years.

Deutsche Telekom and the registered Association of Telecommunications and Value-Added Service Providers (VATM e.V.) have agreed to enable the so-called network provider selection until the end of 2024. The previously existing agreement was limited until 31 December 2022.

3U TELECOM GmbH is a member of VATM. 3U TELECOM and all other Call-by-Call companies within the 3U Group have joined and benefit from the contract extension.

In its business area Telecommunications in the ITC (Information and Telecommunications Technology) segment, Group companies of 3U HOLDING AG provide services in the fields of Voice Retail, Voice Business, Data Centre Services and Managed IT Services. Under Voice Retail, the company offers call-by-call and pre-selection services to fixed-network customers of Deutsche Telekom. Using these services, customers can make cheap and reliable calls worldwide.

Uwe Knoke, board member of 3U HOLDING AG and Managing Director of 3U TELECOM GmbH, says: “3U HOLDING AG has its origins in the Voice Retail business. This business model has shaped our company and was the main reason for its success, especially in the early years. Even today, there is still a relevant, albeit rather declining, demand for this service: last year, Voice Retail had a 17 percent share of the Telecommunications Division’s revenue within the ITC segment. With regards to total revenue of the ITC segment, Voice Retail accounted for almost 8 percent in the 2021 financial year. We are pleased that, contrary to expectations, Voice Retail will now contribute two more years to the business success of this segment.”

Pascal Koppetsch, who accompanied the negotiations with VATM on behalf of Deutsche Telekom, emphasises in the joint statement: “we are happy to extend our agreement with VATM. As long as call-by-call and preselection are in demand in the market and these are economically feasible for us, we are happy to continue to enable the existing variety of offers.”

The joint announcement by Deutsche Telekom and VATM is available in German language on the VATM press portal: https://www.vatm.de/pressemitteilung-call-by-call-preselection-werden-verlaengert/

 

Further Information: 
Dr Stephanie Nickel
Investor Relations
3U HOLDING AG
Tel.: +49 6421 999-2211
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 AG sells its stake in InnoHubs GmbH to co-partner

  • 3U HOLDING successfully achieves targeted value enhancement for shareholders
  • Impact on earnings within the Group’s forecast, effective in the third quarter of 2022
  • Strengthening of equity position, deconsolidation will cause changes in the balance sheet
  • Management board confirms forecast for fiscal 2022

Marburg, 7 June 2022 – 3U HOLDING AG (ISIN DE0005167902) has sold its stake in InnoHubs GmbH to co-partner WüWi Beteiligungsgesellschaft mbH, Wuerzburg. A contract on the transaction was signed on 2 June 2022. The transfer of 3U’s stake of 75 percent in the share capital of InnoHubs GmbH to WüWi is subject to the condition precedent of the purchase price payment and the redemption of collateral and is expected to become effective as of 1 September 2022. In the half-year financial report as of 30 June 2022, the associated assets and liabilities will be reported separately as “held for sale”. Earnings effects and further changes to the balance sheet resulting from the sale will be recognized in the consolidated financial statement for Q3 (30 September 2022).

Right from the start of the building project InnoHubs in the immediate vicinity of the IT campus of the Julius-MaximiliansUniversity and the University of Applied Sciences in Wuerzburg, the objective of 3U HOLDING AG was to increase value in the interests of shareholders, employees, and all stakeholders. The building complex offers around 14,500 m² of large, modern office and innovation space for entrepreneurs and businesspeople and, with its immediate proximity to the universities, is intended to facilitate close interaction between science and business. It is particularly suitable for start-ups and science-related companies. Once again, 3U and its partners have identified and successfully exploited a trend. The high demand for the space on offer confirms the attractiveness of the location and the building. The construction project was only initiated in 2019, started in autumn 2021 after a short planning and approval phase, and successfully progressed in a short time. In recent months, a significant proportion of the available space has already been sold in advance. Rental agreements have also already been concluded with InnoHubs GmbH. The first owners and tenants are scheduled to move in at the end of this year.

3U HOLDING AG reports its shareholding in InnoHubs GmbH under the segment “Other Activities”. The income from the construction and sale of partial areas of the InnoHubs construction project is reported as other income.

In line with the progress of the construction project, the balance sheet total of the 3U Group has increased significantly in recent months. With the completion of the sale of the stake in InnoHubs, this development will reverse, and the balance sheet total will decrease again. Subsequent effects are in particular the derecognition of property, plant and equipment and a significant reduction in the short-term receivables from buyers of space associated with the construction project. At the same time, the inflow of the purchase price will improve the group’s available liquidity position.

The deconsolidation of the property developer loan significantly reduces liabilities to financial institutions at group level. The other income from the sale contributes to strengthening equity. At the same time, the minority interests in equity are reduced by the co-partner’s share in the sold InnoHubs GmbH. As a result, and due to the balance sheet contraction, the equity ratio will increase noticeably.

Uwe Knoke, member of the Management Board of 3U HOLDING AG, says: “By building InnoHubs as a center of exchange between business and science, we have met our own aspirations and contributed to the innovative further development of technologies. With weclapp SE as an owner of space, we will continue to benefit from the innovative concept of InnoHubs. But it also serves our corporate purpose of increasing value for our shareholders, employees, and stakeholders. With the sale of our stake in InnoHubs, we successfully complete this project. In total, income exceeds expenses considerably and, with the closing in the third quarter, we are also significantly strengthening our equity position and increasing our balance sheet quality.”

Against this backdrop, the Management Board confirms its forecast for fiscal 2022. For the financial year 2022, 3U HOLDING AG expects strong sales growth in the Group with a stable earnings situation. In 2022, according to the forecast, sales revenues are to be generated in the range between EUR 65 million and EUR 70 million. In addition, income in the single-digit million range from the sale of assets has been included in the planning. These include the expected income from the stake in InnoHubs. In terms of EBITDA, in view of the measures introduced to strengthen earnings on the one hand and the higher expenses for the expansion of Cloud Computing on the other, the Executive Board again expects earnings before interest, taxes, depreciation and amortization to be between EUR 10 million und EUR 12 million. This leads to an earnings expectation for the Group in a range of probably EUR 2 million to EUR 4 million.

Further Information: 
Dr Stephanie Nickel
Investor Relations
3U HOLDING AG
Tel.: +49 6421 999-2211
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).

Annual General Meeting of 3U HOLDING AG elects Michael Schmidt to the Supervisory Board

  • Dividend of 5 Eurocent resolved
  • Christoph Hellrung reappointed as Chief Financial Officer
  • Three-member Management Board acts as collegial body
  • Positive outlook for the current financial year

Marburg, 30 May 2022 – The Annual General Meeting of 3U HOLDING AG (ISIN DE0005167902) on May 25, 2022 paved the way for far-reaching changes in the Company’s supervisory and executive bodies. With a large majority, the shareholders approved an amendment to the Articles of Association to expand the Supervisory Board to now four seats. They also elected Michael Schmidt, the founder and long-time CEO of 3U, to the Supervisory Board by a large majority. Michael Schmidt resigned from his position on the Company’s Management Board with effect from the end of the day of the Annual General Meeting. His membership of the Supervisory Board will commence upon entry of the amendment to the Articles of Association in the Commercial Register. During the meeting, Ralf Thoenes, as Chairman of the Supervisory Board, thanked Michael Schmidt for his many years of service and his special commitment as a member of the Management Board and Spokesman of the Management Board of 3U HOLDING AG, as well as for the trusting and always open cooperation. At the same time, he expressed the hope that Michael Schmidt’s experience and commitment would continue to benefit 3U with his move to the Supervisory Board.

The members of the Management Board and Supervisory Board were also discharged by large majorities, the remuneration report was approved and the auditors Ebner Stolz GmbH & Co. KG Wirtschaftsprüfungsgesellschaft Steuerberatungsgesellschaft was again elected as auditor. The Annual General Meeting almost unanimously approved the proposal of the Management Board and Supervisory Board to distribute a dividend of 0.05 euros per share for the 2021 financial year.

Following the Annual General Meeting, the Supervisory Board in its previous composition resolved to appoint Christoph Hellrung to the Management Board of 3U HOLDING AG, where he will again hold the position of Chief Financial Officer. In the run-up to a possible IPO of the subsidiary weclapp SE, he had been appointed to weclapp’s Management Board and had resigned from his office at 3U HOLDING AG as of 31 October 2021.

The Management Board of 3U HOLDING AG will therefore continue to comprise three members: Christoph Hellrung, Uwe Knoke and Andreas Odenbreit. The Management Board acts as a collegial body, the position of a spokesperson or chairman is not created.

In the address of the Management Board and in the detailed answers to the questions and contributions of the shareholders and shareholder associations, the successful start into the financial year 2022 with sales and EBITDA growth in the first quarter was highlighted. The Management Board of 3U HOLDING AG reaffirmed the forecast for the current year, which anticipates strong sales growth with stable earnings, and emphasized that it expects 2022 to be a good year.

 

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).