DGAP-News

Intershop publishes figures for first nine months of 2016

DGAP-News: Intershop Communications AG / Key word(s): 9-month figures
Intershop publishes figures for first nine months of 2016

02.11.2016 / 08:21
The issuer is solely responsible for the content of this announcement.

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- Revenues of EUR 24.7 million (previous year: EUR 32.7 million)
- Product business falls short of expectations, service revenues continue
to stabilize
- EBIT of EUR -2.0 million (previous year: EUR 0.05 million)
- "Lighthouse 2020" strategy: Focus on wholesale and cloud business

Jena, 2 November 2016 - Intershop Communications AG (ISIN: DE000A0EPUH1), a
leading independent provider of innovative solutions for omni-channel
commerce, generated revenues of EUR 24.7 million in the first nine months
of 2016 (previous year: EUR 32.7 million). On the one hand, the 25% decline
is attributable to a shift in projects and a shortfall of expected license
orders, which sent product revenues falling by 27% to EUR 9.5 million. On
the other hand, service revenues, at EUR 15.2 million, were still below the
prior year level (-23%). This is due to the changed customer structure,
with a focus on small and medium-sized customers. The quarterly comparison
shows, however, that the service business has stabilized, with service
revenues climbing from EUR 4.5 million in Q1 to EUR 5.4 million in Q3 2016.

Intershop's product revenues break down into approx. EUR 3.5 million in
license revenues (previous year: EUR 7.0 million) and EUR 6.0 million in
maintenance revenues (previous year: EUR 6.0 million) in the first nine
months of 2016. In the service segment, revenues from consulting contracts
amounted to EUR 11.8 million, (previous year: EUR 15.1 million) while full
service revenues stood at EUR 3.4 million (previous year: EUR 4.6 million).

The 44% gross margin for the nine months was consistent with the prior year
period. Operating expenses declined by 9% to EUR 13.0 million. Due to the
drop in revenues, earnings before interest, taxes, depreciation and
amortisation (EBITDA) declined to EUR -0.2 million (previous year: EUR 2.7
million). EBIT amounted to EUR -2.0 million in the reporting period,
compared to EUR 0.05 million in the previous year. The result for the
period stood at EUR -2.4 million (previous year: EUR -0.1 million). This is
equivalent to earnings per share of EUR -0.07 (previous year: EUR 0.00).

The Intershop Group's cash flow from operations amounted to EUR -1.4
million in the first nine months of 2016 (previous year: EUR 4.2 million),
which is mainly attributable to the net loss for the period. Cash and cash