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Intershop publishes figures for Q1 2013

DGAP-News: Intershop Communications AG / Key word(s): Quarter Results
Intershop publishes figures for Q1 2013

08.05.2013 / 08:13

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- Net revenues of EUR 12.2 million down 8% on previous year
- Increased sales and marketing investments weighing on bottom line
- Forecast for 2013 confirmed

Jena, May 8, 2013 - Intershop Communications AG (ISIN: DE000A0EPUH1), a
leading provider of integrated e-commerce solutions, generated net revenues
of EUR 12.2 million in the first quarter of 2013. This represents an 8%
decline compared to the prior year period, in which the company posted
extraordinarily high consulting revenues. The decline in the traditionally
weaker first quarter is also attributable to reduced licensing revenues,
which amounted to EUR 0.7 million (2012: EUR 1.1 million).

'The licensing business is feeling fiercer competition, primarily for
larger e-commerce contracts, and the extended decision-making process of
potential clients. The growing trend towards software subscriptions (SaaS
revenue model) instead of license purchases also leads to former 'standard
license revenues' being spread over the term of the subscription period,
thereby shifting the recognition of revenues into the future. We are
confident, however, that our investments in sales and marketing will bear
fruits in the upcoming quarters and will drive new customer business
significantly. We, therefore, confirm our forecast of single-digit revenue
growth and an almost break-even result for 2013,' says Ludwig Lutter, Chief
Financial Officer of Intershop Communications AG.

At EUR 6.8 million or approx. 56%, the Consulting segment again made the
biggest contribution to net revenues in the first quarter of 2013.
Maintenance revenues amounted to EUR 2.0 million, compared to EUR 2.2
million in the prior year period. Other revenues, which also include
Full-Service revenues, increased by an impressive 35% to EUR 1.6 million.
The Online Marketing segment also reported higher net revenues, which
picked up by 9% to EUR 1.0 million.

Gross profit for the first three months of 2013 dropped by 27% to EUR 3.4
million, which represents a gross margin of 28%. The reduced gross profit
was attributable to lower licensing revenues, higher depreciation,
declining consulting and support services. Operating expenses rose by 6% to
EUR 5.2 million, which was mainly due to the 43% increase in sales and
marketing expenses. EBIT and the net result amounted to EUR -1.7 million