3U HOLDING AG can further increase EBITDA, profit and cash flow in the first nine months 2009

  • Operative cash flow significantly increased
  • Organic growth fostered
  • Cost savings decided

Marburg, 25 November 2009 – The 3U HOLDING AG was able to significantly improve profits over the past nine months. Given Group sales that decreased from EUR 80.6 m to EUR 70.8 m due to the expected decline in the fixed-line telephony segment, Earnings before Interest, Taxes, Depreciation and Amortisation (EBITDA) as well as net profit for the period increased significantly.

At EUR 10.7 m, EBITDA of the reporting period was 26.3 % higher than EBITDA of the first nine months 2008 (EUR 8.5 m). The result improved by EUR 4.1 m to EUR 1.1 m in the first nine months 2009, compared to the respective period last year. Earnings in the third quarter 2008 included the special item of backlog depreciations and amortisations in the broadband/IP segment. Earnings per share are reported at EUR 0.02 for the current business year.

The 3U HOLDING AG continues to show a very solid equity ratio. This ratio continuously changed for the better and was at 49.3% on 30 September 2009 – after being at 44.9 % on 31 December 2008.

Operating cash flow was increased by 88.3% and was, at EUR 6.6 m in the first three quarters 2009, EUR 3.5 m higher than in the same period last year.

The Groups’ liquid assets decreased from EUR 35.5 m on 31 December 2008 to EUR 31.1 m on 30 September 2009 due to redemption payment for loan and lease liabilities of LambdaNet, the repurchase of own stock, prepaid network rentals as well as investments into the new Groups’ Headquarters.

Despite the overall positive development of the Group there continues to be a divergent development within the two core segments. While the corporations in the fixed-line telephony segment hold their grounds within their market niches successfully through innovative products and newly founded affiliates, the results in the broadband/IP segment continue to disappoint. Taking the difficult market conditions into consideration, LambdaNet’s management has planned a far-reaching package of measures for a reversal of trend that also includes personnel adjustments. The implementation of this package was started with urgency in the current quarter and should lay the groundwork for a getting LambdaNet profitable in short time.

The activities in the Renewable Energies sector are continuously expanded. Besides the progress made with regards to the construction of the new Group Headquarters that is equipped with progressive technology, in which the concept of “Solar Heating Power Plant” (“Solarheizkraftwerk, SHKW”) is implemented for the first time, a further business venture, the 3U SOLAR Systemhandel AG, was entered into in the current fourth quarter 2009 that will be operating as of the first quarter 2010 at the latest.

In the scope of our continuous screening of investment inquiries, an opportunity occurred to acquire a minority stake in an attractive business venture that was opportunistically entered into in the current fourth quarter. “It would be negligent not to consider attractive investment opportunities outside of our investment focus,” explains CFO Oliver Zimmermann. “With our financial means we are capable to grab opportunities at any time and to therefore pave the way for future profitable growth of our Corporation. Hence we are confident that the positive trend of earnings increases will continue in the future”, adds fellow executive board member Michael Schmidt.


Peter Alex

Head of Investor Relations

Frauenbergstraße 31–33
35039 Marburg

Tel.: +49 6421 999-1200
Fax: +49 6421 999-1222
E-Mail: ir@3u.net