- Significant profit and net cash inflow
- Earnings forecast for 2019 likely to be significantly exceeded
- Company headquarters to remain at site for up to five years
Marburg, 13 August 2019 – 3U HOLDING AG (ISIN: DE0005167902) is selling its Marburg site, generating a profit of approximately EUR 5 million and, after the repayment of existing loan obligations, a net cash inflow of EUR 9.7 million. A corresponding purchase agreement was concluded by the parties today.
The extraordinary income means that the earnings forecast for the 3U HOLDING AG Group given at the end of February will probably be significantly exceeded. Contrary to the proceeds from the sale of the site, there will be one-off write-downs, and the tax result is expected to deteriorate. The sale of a wind farm included in the forecast will also be suspended for the time being and will probably not be realised in the current financial year.
Against this backdrop, the Executive Board corrects the forecast for the 2019 financial year issued at the end of February as follows: It continues to expect consolidated revenue of EUR 51 million to EUR 55 million. For EBITDA, it anticipates earnings before interest, taxes, depreciation and amortization of between EUR 10 million and EUR 12 million (previous forecast for FY2019: EBITDA between EUR 7 million and EUR 9 million; actual 2018: EUR 6.7 million). This will result in a consolidated net income of between EUR 4 million and EUR 5 million (previous forecast for FY2019: consolidated net income between EUR 1 million and EUR 2 million; actual 2018: EUR 1.9 million).
3U HOLDING AG regards the transaction as a contribution to the pursuit of its growth strategy and the associated financing concepts. The proceeds are intended to be used for possible acquisitions in the cloud computing environment and could thus support the preparation of a possible IPO of the subsidiary weclapp SE.
As part of the purchase agreement, it is agreed that 3U HOLDING AG will be able to use the company headquarters currently in use for a further period of up to five years by way of a rental agreement. It is planned to move to a suitable location in the region in due course.