3U HOLDING AG publishes quarterly report Q1/2014

  • Group sales up 43%
  • Results on track
  • Equity of EUR 1.29 per share

3U HOLDING AG (ISIN DE0005167902) today published its quarterly report for the first quarter of 2014.

In comparison to the first quarter of 2013 Group sales increased considerably by almost 43% to EUR 12.19 million. Following the low point in the first quarter of 2013, consolidated sales increased from quarter to quarter, mainly due to the sales growth in the segments Telephony and Renewable Energies.

EBITDA has increased significantly compared to the same quarter last year to EUR -0.44 million, but could not be kept quite on the level of the last quarter of fiscal year 2013. The slight decline in the first quarter of 2014 has to be seen in light of the fact that the first quarter in the area Renewable Energies is usually weaker due to seasonal reasons.

Group’s earnings of EUR –0.89 million in the first quarter of 2014 are EUR 0.84 million higher than the Group’s earnings in the same quarter last year. Even though no improvement in consolidated earnings was achieved compared to the fourth quarter of fiscal year 2013 it is still well within the plan for that period.

The balance sheet total at March 31, 2014 of EUR 57.07 million stayed virtually unchanged compared to December 31, 2013 (EUR 57.05 million). Shareholders’ equity decreased to EUR 44.58 million (December 31, 2013: EUR 45.71 million) due to the quarterly results and the buyback of own shares; this corresponds to an equity per share of EUR 1.29.

The liquid funds reported at the end of the reporting period have changed significantly in recent weeks. First, the Group accrued EUR 14.1 million from a general credit agreement to finance the PV project in Adelebsen on April 15, 2014 and thus increased the liquidity in the meantime to more than EUR 20 million. Thereafter, all acquisition costs from the purchase of the data centre in Hanover in the amount of approximately EUR 8.4 million have been paid. The planned debt financing of the property will increase liquid funds to nearly EUR 20 million again.