Marburg, 26th May 2009 – As expected, Group sales in the first three months of the current financial year fell by € 1.28 million to € 24.77 million against the same period last year (€ 26.02 million). The shrinking market brought a fall in fixed-line telephony revenue which was unable to be compensated for by the rise in broadband/IP sales. Profit figures, however, were up significantly over the same period. Earnings before interest, tax, depreciation and amortisation (EBITDA) of € 3.06 million were € 0.74 million up on the same period last year (€ 2.32 million), and significant growth was also seen in earnings before tax (EBT) and final net profit for the period, with EBT at € 0.49 million (€ -0.33 million) and final net profit for the year at € 0.13 million (€ -0.42 million). This equates to earnings per share of € 0.002.
Balance sheet ratios remained highly robust. The equity ratio is now 45.93% as opposed to 44.89% at 31st December 2008. Operating cash flow of € 1.00 million was € 2.39 million higher than the same period last year. Due to capital repayments on LambdaNet loans and lease obligations, own-share buy-backs and pre-paid network leases, Group cash and cash-equivalents ended the quarter down from € 35.47 million at 31st December 2008 to € 30.99 million at 31st March 2009.
The planned growth in our corporate investment portfolio has not yet yielded any visible success. “Nevertheless, our sceptical response to the business plans submitted by companies looking to acquire capital and our reticence in committing fresh investment funds have paid off”, explains CFO Oliver Zimmermann. “Any investment made in 2008 would have lost value by now. Having said that, we’ve now intensified our efforts to increase our deal-flow and stimulate a growing number of enquiries from attractive businesses. Right now, none of these businesses has been able to meet all of our detailed requirements, but it’s just a matter of time”, adds fellow CTO Michael Schmidt.
Head of Investor Relations
3U HOLDING AG
Tel.: +49 6421 999-1200
Fax: +49 6421 999-1222