Archive for year: 2022

• All three segments with partly significant revenue growth
• Earnings development in line with expectations
• Forecast for the 2022 financial year confirmed

Marburg, 11 May 2022 – In line with expectations, consolidated revenue at 3U HOLDING AG (ISIN DE0005167902) rose sharply in the first quarter of 2022 (Q1 2022) compared with the first quarter of 2021 (Q1 2021). Consolidated revenue came in at EUR 16.84 million, up 19.4% in a year-on-year comparison (Q1 2021: EUR 14.10 million). All three segments contributed to raising revenue.

Despite the rapid increase in personnel numbers in the ITC segment and higher other operating expenses, the Group’s EBITDA margin matched the year-earlier level. Other operating income of EUR 2.21 million (Q1 2021: EUR 2.27 million), largely generated from selling office space in the InnoHubs building complex in Würzburg, also contributed to this result. The Group’s cost of materials came in at EUR 8.11 million in the first quarter of 2022, reflecting an increase of 3.7 % year on year (Q1 2021: EUR 7.82 million). Compared with higher consolidated revenue, the cost of materials ratio (cost of materials as a percentage of revenue) declined from 55.5 % in the first quarter of 2021 to 48.2 % in the period under review.

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 by EUR 1.86 million (59.1 %) to currently EUR 5.00 million (Q1 2021: EUR 3.14 million). Despite the sharp increase in revenue, the personnel expenses ratio (personnel expenses as percentage of revenue) posted 29.7 % which significantly exceeds that of the year-earlier quarter (Q1 2021: 22.3 %).

The share of other operating expenses in revenue came in at 14.9 %, reflecting a decline compared with previous year’s figure (Q1 2021: 15.5 %).

Earnings before interest, taxes, depreciation and amortisation (EBITDA) therefore rose by 12.4 % to EUR 3.77 million in the first quarter of the financial year 2022 (Q1 2021: EUR 3.35 million). Along with the positive contributions to earnings from the Renewable Energies segment, the increase is also due to proceeds from selling office space in the new building in Würzburg. The EBITDA margin (EBITDA in relation to revenue) nevertheless declined slightly due to higher revenue and stood at 22.4 % (Q1 2021: 23.8 %).

Adjusted for expenses of EUR 0.26 million to take account of the currently shelved preparations for an initial public offering and for M&A projects in the Cloud Computing business, (adjusted) EBITDA would have amounted to EUR 4.02 million, reflecting an (adjusted) EBITDA margin of 23.9 %.

Depreciation and amortisation totalled EUR 1.21 million in the first quarter of 2022 (Q1 2021: EUR 0.99 million). The increase is attributable to depreciation and amortization from the purchase price allocation pertaining to the acquisition of ITscope GmbH. Tax expenses of EUR 0.73 million were incurred in the first quarter of 2022 (Q1 2021: EUR 0.28 million).

Consequently, the proportion of the consolidated result attributable to the shareholders of the parent company dropped to EUR 1.39 million in the first quarter of the current financial year (Q1 2021: EUR 1.82 million). Earnings per share stood at EUR 0.04 (basic and diluted).

Segment results

The ITC segment reported strong revenue growth again. Segment revenue of EUR 7.06 million was generated in the first quarter of 2022, marking growth of 29.2 % compared with the first three months of 2021 when revenue was stood at EUR 5.46 million.

The Cloud Computing business in the weclapp SE subgroup remains the key driver of expansion within the Group and in the ITC segment. Revenue came in at EUR 4.00 million in the first three months of 2022 at a 67.4 % growth rate. At EUR 1.20 million, ITscope GmbH’s revenue also fully meets expectations. Revenue of weclapp SE at single company level grew strongly by 19.2 % climbing to EUR 2.85 million year on year (Q1 2021: EUR 2.39 million). Since 2021, management capacities have extensively been tied up in preparing mergers and acquisitions as well as the potential IPO. The ongoing refocusing of sales aims at more intensive market penetration, and a phase of accelerated growth. The associated massive increase in new personnel will also lead to a temporary denting effect on margins. As already explained in the management report on the consolidated financial statements, the Management Board anticipates strong growth in the financial year 2022. Full-year revenue growth in the subgroup is forecast at around 60% – to between EUR 18.0 million and EUR 20.0 million (2021 revenue growth was 63.5 %).

At EUR 2.88 million, the Telecommunication business line generated sales revenue at the year-earlier level in line with expectations (Q1 2021: EUR 2.86 million). The slight decline in Voice Retail, and the lower volume of services delivered to companies associated with the Group was offset by growth in data centre services. Management intends to continue to pursue the underlying strategy of compensating the declines anticipated in Voice Retail by generating growth in other parts of the Group’s operations.

Despite higher contribution by Telecommunication of 30.1 %, segment EBITDA dropped by a disproportionate 34.9 % to EUR 1.00 million (Q1 2021: EUR 1.54 million) due to the sharp increase in Cloud Computing costs in the first quarter of the financial year 2022. The ITC segment’s EBITDA margin (EBITDA as a percentage of revenue) therefore came in at 14.2 % (Q1 2021: 28.2 %).

Adjusted for non-recurrent expenses of EUR 0.11 million for preparations for a possible IPO of subsidiary weclapp which have now been suspended, as well as for M&A projects, (adjusted) segment EBITDA would have amounted to EUR 1.11 million. Moreover, with regard to an imminent IPO, a share option programme for the employees in the weclapp SE subgroup was launched. Keeping this programme running increases non-cash relevant personnel expenses by around EUR 0.17 million per quarter. The counter entry is reflected as an increase in capital reserve. Net of this expense, adjusted segment EBITDA would have amounted to EUR 1.26 million, corresponding to an adjusted EBITDA margin of 17.8 %.

The first quarter of 2022 was the sunniest Q1 ever since the Adelebsen solar power plant went online. For this reason, and thanks to the plentiful supply of wind, revenue generated by the Renewable Energies segment increased by 62.6 % to EUR 2.42 million (segment revenue Q1 2021: EUR 1.48 million). The favourable conditions of newly concluded electricity supply contracts also contributed to this strong growth. As a result, segment EBITDA also improved substantially in a year-on-year comparison and, at EUR 2.02 million, marked an increase of 89.5 % (Q1 2021: EUR 1.07 million). With a lower level of depreciation and amortisation, a slightly improved financial result, and despite higher taxes, the segment result comes in at EUR 1.10 million (Q1 2021: EUR 0.16 million).

The SHAC segment’s revenue climbed by an overall 2.4 % to EUR 7.55 million (Q1 2021: 7.37 million). Subsidiary Selfio’s e-commerce business is gradually returning to a growth trajectory. Although revenue of EUR 6.01 million in this segment dropped 3.6 % below that of the first quarter of 2021 (EUR 6.23 million), it exceeded the figure posted in the fourth quarter of 2021 by 6.6 % (Q4 EUR 5.64 million). Supply bottlenecks which had already hampered e-commerce in the financial year 2021 still persist and will likely be exacerbated by the war in Ukraine. In this scenario as well, all efforts are being channelled into satisfying customer wishes to the greatest extent possible, thereby reinforcing the company’s market position. Given the current trend towards reducing emissions and the use of fossil fuels, our extensive know-how, in heating systems with low flow temperatures, for instance, may open up additional opportunities.

The increase in procurement prices across the industry were not able to be passed on in full to the customer. This situation is evident in the cost of materials ratio rising to 81.9 % in the first quarter of 2022 (Q1 2021: 79.1 %). With costs otherwise largely steady, segment EBITDA remained in marginally negative territory. The segment result dropped to EUR –0.41 million (Q1 2021: EUR –0.03 million).

Revenue of EUR 0.48 million, from management services in particular, was reported under Other Activities in the first quarter of 2022 (Q1 2021: EUR 0.38 million). The holding’s personnel expenses of EUR 0.75 million remained at the year-earlier level (Q1 2021: EUR 0.75 million). Other operating expenses of EUR 0.55 million declined significantly (Q1 2021: EUR 0.87 million). Other operating income of EUR 1.88 million resulted from the sale of office space in the InnoHubs building project in accordance with progress made in construction work, bringing Other Activities’ EBITDA to EUR 1.06 million (Q1 2021: EUR 0.73 million).

Net assets and financial position

Total assets had grown to EUR 130.86 million as of 31 March 2022 (31 December 2021: EUR 119.05 million). The balance sheet extension is essentially due to the increase in property, plant and equipment and liquid funds on the asset side and the increase in non-current financial liabilities and equity on the liabilities side. The other current and non-current items in the statement of financial position as of 31 March 2022 largely corresponded to the level posted on 31 December 2021.

The changes are essentially determined by progress made in the InnoHubs building project in Würzburg. As progress is made in building the office space earmarked for future leasing, this results in an increase in property, plant and equipment. As of 31 March 2022, property, plant and equipment totalled EUR 38.39 million, reflecting an increase of EUR 4.84 million compared with 31 December 2021 when this figure stood at EUR 33.55 million. In a two-account model which accords with the rules and regulations set out under the German Property Broker and Developer Ordinance (MaBV), the buyers of office space remit the payments agreed to a dedicated property developer account. The developer makes payment to the general contractor from a loan account in accordance with the progress of construction work. The loan amount taken out for this purpose rose by EUR 6.78 million over the course of the first quarter, which essentially contributed to raising the non-current financial liabilities to EUR 37.11 million as of 31 March 2022 (31 December 2021: EUR 29.26 million). Against this, cash and cash equivalents in the consolidated statement of financial position were valued at EUR 22.05 million (31 December 2021: EUR 12.72 million). The difference compared with cash and cash equivalents of EUR 9.95 million disclosed in the cash flow statement is primarily explained by the balance on the aforementioned developer account.

Cash inflow from operating activities stood at EUR 7.68 million, thereby considerably exceeding the year-earlier figure (Q1 2021: cash inflow of EUR 1.51 million). Further drawdowns on the loan to finance the InnoHubs building project in Würzburg generated a cash inflow from financing activities of EUR 7.53 million (Q1 2021: cash outflow from financing activities of EUR 0.75 million). The cash outflow from investing activities of EUR 5.87 million also mainly relates to the InnoHubs building project. In the first quarter of 2021, the high cash inflow from investing activities (Q1 2021: EUR 3.36 million) was principally due to the partial sale of the Adelebsen property. The positive cash flow of EUR 9.33 million (Q1 2021: EUR 4.11 million) includes incoming payments in an amount of EUR 7.01 million on the aforementioned blocked account. Free cash flow advanced to EUR 1.81 million in the first three months of the financial year (Q1 2021: EUR 4.86 million).

The change in the key financials as of 31 March 2022 is also principally attributable to the activities in Würzburg: The debt-to-equity ratio climbed to 104.5 % (31 December 2021: 91.7 %). By contrast, net liabilities (cash and cash equivalents minus financial liabilities) had decreased slightly to EUR 16.71 million (31 December 2021: EUR 18.2 million).

Equity was reported at EUR 56.77 million mainly thanks to the consolidated result (31 December 2021 EUR 55.25 million). Owing to the balance sheet extension, however, the equity ratio of 48.9 % was lower than on 31 December 2021 when it stood at 52.2 %.

Outlook

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, taxes, 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 in the cloud computing business 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 or more stringent economic restrictions imposed to combat the COVID-19 pandemic later this year will impact on business activities is not possible.

Quarterly announcement

The quarterly announcement on the first quarter of the 2022 financial year will be published today, 11 May 2022. 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).

• 2021 forecast essentially achieved – revenue at the lower end and adjusted result at the upper end of the forecast range
• Adjusted for one-off expenses for M&A and IPO preparations, operating EBITDA margin reaches 22.1 %
• Dividend proposal of EUR 0.05
• External factors: Renewable Energies weaker due to weather conditions; global supply chain difficulties in the construction sector
• Plans for sustainable, profitable growth

Marburg, 30 March 2022 – 3U HOLDING AG (ISIN DE0005167902) is reporting on its consolidated financial statements and the results of the financial year 2021. The publication of the full Annual Report on the financial year 2021 has been delayed by a few days due to necessity of transferring to the ESEF data format, which is the precondition for the subsequent approval and adoption of the financial statements by the Supervisory Board. Inasmuch, the financial statements are therefore still provisional.

As expected, consolidated revenue decreased by EUR 5.11 million (8.4 %) to EUR 55.94 million, down from EUR 61.05 million in the previous year. The decline is essentially due to the disposal of parts of the company in the fourth quarter of the financial year 2020 which generated revenue of EUR 8.02 million in the financial year 2020. A counter trend emanated from the initial consolidation of two companies – acquired in the second half of the year – in the fourth quarter of 2021, which contributed around EUR 0.99 million to revenue in the ITC segment and the Group. The 3U Group therefore achieved organic growth of 3.6 % in the financial year 2021. In comparison with the previous financial year, the development of organic growth was hampered by a significantly lower level of wind yield from the wind farm portfolio, as well as by supply bottlenecks in the construction sector, which also affected the SHAC segment.

These circumstances are also reflected in the segments’ development. Including the newly acquired companies, the ITC segment generated revenue growth of 24.1 %, as opposed to the SHAC segment and the Renewable Energies segment which recorded declines of 18.6 % and 31.1 % respectively.

Other income in the financial year 2021 mainly results from disposals of part of the Adelebsen property and of office space in the InnoHubs building complex, currently under construction Würzburg. At EUR 6.86 million, income is 28.5 % higher than in the previous year (2020: EUR 5.34 million).

The cost of materials ratio (cost of materials as a percentage of revenue) came in at 52.4 % compared with the previous year’s period when it stood at 54.4 %. The share of personnel expenses in revenue (personnel expenses ratio) rose significantly to 26.8 % in the financial year 2021, up from 21.5 % in 2020. This increase is essentially explained by the ongoing recruiting of personnel on the back of growth and takes account of greater staff requirements in cloud computing in all areas of tasks right up to Management Board level, as well as gaining new employees through the Acquisitions.

The share of other operating expenses in revenue was also significantly higher at 17.8 % in the financial year 2021 (2020: 13.6 %). This position comprises the majority of costs incurred by preparing company acquisitions and a possible IPO of subsidiary weclapp SE. Accordingly, earnings before interest, taxes, depreciation and amortisation (EBITDA) in the financial year 2021 stood at EUR 11.27 million, which is EUR 0.28 million (2.5 %) lower compared with the previous year’s figure (2020: EUR 11.55 million). By contrast, the EBITDA margin (EBITDA in relation to revenue) increased from 18.9 % in 2020 to 20.1 % in the reporting year, a development mainly due to lower revenue and the higher level of other operating income.

Personnel expenses and, in particular, other operating expenses, include costs amounting to EUR 1.08 million (2020: no one-off expenses) for preparing for company acquisitions and a possible IPO of subsidiary weclapp SE. Adjusted for the aforementioned one-off expenses, EBITDA is calculated at EUR 12.35 million and the adjusted EBITDA margin comes in at 22.1 %.

The consolidated result for the financial year 2021 attributable to shareholders of the parent company therefore reflected the forecast: At EUR 2.92 million, it fell EUR 0.35 million short of the previous year’s figure of EUR 3.72 million. At this juncture, the fact that that, without the one-off expenses incurred for the preparation of company acquisitions and a possible IPO of subsidiary weclapp SE, a higher consolidated result would have been generated should also be taken into Account.

Dividend proposal:

EUR 0.05 with no tax reduction In view of the further positive development of business within the Group, the Management Board and the Supervisory Board will put forward a proposal to the Annual General Meeting to pay dividend of EUR 0.05 per share (dividend payment 2021: EUR 0.05). Dividend would be paid from the tax deposit account with no deduction of tax.

Segment results

The ITC segment achieved a share of 42.9 % (2020: 31.7 %) in consolidated revenue, the Renewable Energies segment 11.2 % (2020: 15.0 %) and the SHAC segment 48.2 % (2020: 54.3 %). The difference between the sum total of segment sales revenue and 100 % of consolidated sales revenue is attributed to Other Activities.

In comparison with the previous year, the ITC segment lifted its revenue by 24.1 %, from EUR 19.33 million to EUR 23.98 million in the financial year 2021.

Telecommunications generated EUR 11.13 million in sales revenue, unchanged from the year-earlier level (2020: EUR 11.20 million).

The cloud computing business was given a new operational and balance sheet structure due to the acquisition of two subsidiaries. The revenues, expenses and earnings of the two companies were included by way of consolidation in the consolidated statement of income of the newly established subgroup of weclapp SE for the period from October to December 2021.

In the financial year 2021, the subgroup achieved consolidated revenue of EUR 11.98 million (2020: EUR 7.33 million), reflecting growth of 63.5 %. Sales revenue for this period was as follows: FinanzGeek whose product still has to be launched on the market contributed to a minor extent, while ITscope contributed EUR 1.17 million and weclapp SE EUR 10.99 million (2020: EUR 7.33 million), marking revenue growth at single company level of 49.8 %. In the process of consolidating the subgroup, sales revenue was eliminated in an amount of EUR 0.18 million. The segment’s earnings trend overall was significantly impacted by one-off expenses of EUR 1.08 million in connection with preparations for company acquisitions and a possible IPO of subsidiary weclapp SE (2020: no one-off expenses).

This resulted in a decline of 9.2 % in this segment’s EBITDA to EUR 4.51 million, down from EUR 4.91 million. The EBITDA margin (EBITDA as a percentage of revenue) dropped from 25.7 % to 18.8 %. Adjusted for one-off expenses, EBITDA stood at EUR 5.59 million, corresponding to an EBITDA margin of 23.3 %.

The power generated by the portfolio of wind farms was negatively impacted by the fact that winds were unusually low in all of our wind farm locations in 2021. All in all, revenues dropped from EUR 9.13 million in 2020 to EUR 6.29 million in the reporting year. The previous year still included sales revenue of EUR 1.06 million from operating the Lüdersdorf wind farm, however. EBITDA therefore declined from EUR 8.80 million in the previous year to EUR 4.63 million in the financial year 2021.

Revenue in the SHAC segment dropped from EUR 33.14 million to EUR 26.96 million. Along with the absence of sales revenue from the company that left the Group in 2020, the global supply chain crisis and the associated difficulties in procuring goods caused a significant decline in sales revenue by 18.6 %. This situation negatively impacted sales revenue generated from e-commerce in Group company Selfio GmbH in particular, which fell by 8.8 % to EUR 21.59 million (2020: EUR 23.67 million). The SHAC segment delivered EBITDA of EUR –0.53 million in the reporting year compared with a positive EBITDA of EUR 1.09 million in 2020.

EBITDA in Other Activities/Reconciliation amounted to EUR 2.65 million (2020: EUR –3.31 million), contributing earnings EUR 0.57 million to the consolidated result in the financial year 2021 compared with a negative result of EUR 3.22 million in the previous year.

Cash flow and financials

Operating cash flow was negative at EUR –9.46 million in the reporting year (2020: cash inflow of EUR 4.78 million). The sharp increase in current trade receivables, mainly resulting from the sale of office space in the Würzburg construction project as well as advance payments in the SHAC segment and business expansion in the ITC segment, is reflected in cash outflow.

Cash flow from investing activities was largely determined by acquisitions in the cloud computing business. Cash outflow for the purchase of consolidated companies and other business units came in at EUR 13.24 million.

The cash flow from financing activities generated a cash inflow of EUR 9.23 million (2020: cash inflow of EUR 5.30 million). Payments for the scheduled and unscheduled repayment of loans and leasing liabilities as well as to shareholders of 3U HOLDING AG and to minority interest are offset by incoming payments from taking out bank loans worth EUR 14.95 million (2020: EUR 8.15 million).

Total assets stood at EUR 119.05 million on 31 December 2021 (31 December 2020: EUR 85.90 million) and have therefore risen by EUR 33.15 million compared with the year-earlier reporting date. The balance sheet extension is essentially attributable to the increase in intangible assets following the acquisition of two companies. This is set against higher non-current financial liabilities and equity which have risen by EUR 10.11 Million.

Along with goodwill of EUR 18.35 million (31 December 2020: EUR 0.60 million), non-current assets of EUR 69.85 million (31 December 2020: EUR 39.20 million) comprise in particular intangible assets taken over in the context of acquiring the new companies which have joined the Group. Among other aspects, this includes the brand rights, customer relationships and the cloud platforms, which together total EUR 8.03 million. As of 31 December 2021, current assets stood at EUR 49.20 million (31 December 2020: EUR 43.53 million), reflecting an increase of EUR 5.67 million compared with the 2020 reporting date. Cash and cash equivalents of EUR 12.72 million represented 25.8 % of current assets as of 31 December 2021. On 31 December 2020, cash and cash equivalents stood at EUR 26.42 million, accounting for 60.7 % of current assets.

The key financials remained at a satisfactory level at the end of the financial year 2021. Owing to borrowing, the debt-to-equity ratio increased from 65.2 % as of the reporting date in 2022 to currently 91.7 %. The financial liabilities exceeded the cash and cash equivalents by EUR 18.2 million as of 31 December 2021 (31 December 2020: net cash of EUR 9.32 million). At the same time, working capital rose by 8.6 % and had reached a level of EUR 34.21 million by the reporting date (31 December 2020: EUR 31.51 million).

The continued sound equity ratio stood at 52.2 % on 31 December 2021 (31 December 2020: 60.5 %). Along with the profit available for distribution in the financial year 2021, the increase in the absolute amount of equity which rose by EUR 10.11 million to EUR 62.11 million (31 December 2020: EUR 52.0 million) resulted from other companies joining in the ITC segment as well as from changes in capital reserve, largely following a capital reduction in subsidiary weclapp SE carried out in the context of preparations for this company’s IPO.

Plans for sustainable, profitable growth The Management Board anticipates a double-digit increase in consolidated revenue which will derive support from the strong organic growth of our 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, taxes, 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 in the cloud computing business 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 or the recently more stringent economic restrictions imposed to combat the COVID-19 pandemic will impact on business activities is not possible.

“The financial year 2021, was one of light and shadow,” commented Michael Schmidt, Spokesman of 3U HOLDING AG’s Management Board. “We achieved our forecast, made some fine progress and generated value, true to our company’s purpose. We were, however, constrained by external factors which we were unable to foresee or to influence to any great degree: lower power yield due to weather conditions, supply bottlenecks in the wake of COVID-19 lockdowns, and the plunge in the stock market value of technology shares. Unfortunately, we have had to temporarily halt the intensive preparations for a possible initial public offering of weclapp SE. But even without a launch on the stock market, we are generally satisfied with the result of the financial year and plan to pay dividend to enable our shareholders to participate in our success again. For the coming year, we have long since paved the way forward with our operations – for sustainable, profitable growth in all segments: ‘The year 2022 will be a good year!’”

Annual report

The publication of the full Annual Report on the financial year 2021 has been delayed by a few days due to necessity of transferring to the ESEF data format, which is the precondition for the subsequent approval and adoption of the financial statements by the Supervisory Board. The report will be made available on the company’s website at 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).

• Wind-yield well above previous year and long-term average
• System availability at a high level of 99 %
• Favourable conditions for power purchase Agreements

Marburg, March 9, 2022 – The Renewable Energies segment in the 3U HOLDING AG (ISIN DE0005167902) Group has recorded a good start into the year 2022. While 2021 was a period of extraordinarily low wind, electricity generation from wind power in the months of January and February 2022 was around 100 % above that of the first two months of 2021 and almost 40 % above the long-term electricity yield average. As the electricity yield of wind farms is not predictable, the long-term average serves as the basis for Group planning in this segment. The technical availability of the wind farms, another key factor for the yields and thus the profitability of wind turbines, remains at a high level at 3U with an average of around 99 %.

3U’s wind turbines no longer receive any income under the German Renewable Energy Act (EEG). The electricity generated is being commercialised by way of individual power purchase agreements (PPAs) with utilities. The 3U Management Board was able to secure favourable conditions for electricity deliveries in 2022 and in some cases already for 2023, thanks to which average revenues above the former feed-in tariff will be achieved.

“Obviously, the business of electricity generation from wind and sun is dependent on the weather conditions. But becoming independent of fossil fuels: That is crucial to combating climate change. At the same time, the further expansion of renewable energies is also the key to energy self-sufficiency, to greater independence from coal, oil and gas supplies from abroad,” Uwe Knoke, CFO of 3U HOLDING AG, is convinced. “Within the scope of our possibilities, we at 3U are also making our contribution to achieving these goals.”

3U HOLDING’s portfolio includes 3 wind farms with a combined nominal capacity of around 43 MW, a photovoltaic power plant with a nominal capacity of around 10 MWp, as well as a number of smaller solar power plants.

 

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).

• 1st place for weclapp in the category “price-performance ratio” among ERP providers
• weclapp “Outstanding” in all categories across all industries
• weclapp is one of the three best ERP Systems

Marburg, 16 February 2022 – weclapp SE, a subsidiary of 3U HOLDING AG (ISIN DE0005167902) receives top marks in all categories of the DtGV study (German Association for Consumer Studies) in this year’s German B2B Awards. The study results were officially published yesterday at www.dtgv.de. They show that weclapp is one of the best ERP systems from the point of view of the surveyed customers. In the category “price-performance ratio”, the weclapp ERP platform takes 1st place and is thus crowned industry champion.

In the cross-industry comparison of 1,387 companies from 101 industries, weclapp SE is among the top 20 % in all three categories examined: “customer satisfaction”, “customer service” and “price-performance ratio” and was awarded the top mark “Outstanding” on a 10-point scale. In an online customer survey, decision-makers from middle and top management gave their opinion in December 2021. Only providers that had received at least 50 ratings were included in the final Evaluation.

The DtGV study is independent; 100,000 decision makers from the B2B sector are surveyed annually. According to the DtGV, the aim of the empirical study is to provide an orientation aid for customers. weclapp stands out against its competitors and convinces customers on all levels. In order to maintain and expand this market position, weclapp cooperates closely with the user and partner community and constantly improves its product.

“It is our goal to make weclapp the preferred ERP solution for SMEs in Germany and abroad. The satisfaction of our German customers and the constant growth in the number of customers and revenue shows us that we are on the right track! Our aim is to join together the digitisation of business processes with access to the latest technological solutions, thus democratising the pinnacle of cutting-edge solutions – for our existing customers as well as for future users all over the world,” says founder and CEO Ertan Özdil.

 

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).