WWL Internet AG
Ad hoc-Service: WWL Internet AG English
The sender —————————————————————————— WWL Internet AG completely within budget in the third quarter 2000 Revenues grew by 166% to EUR 4,333 thousand and number of employees by 180% to 375 compared to Q3 1999 / profit margins have improved substantially compared to Q3 1999 / earnings per share per IAS of EUR – 0.36 improved to EUR – 0.32 / future growth in staff will flatten out at a fast pace and employee productivity will increase rapidly (Nuremberg, 11/21/2000) WWL Internet AG recorded EUR 12,066 thousand revenues during the first 9 months of the 2000 financial year and in doing so surpassed the revenues for the first 9 months of 1999 by 205%. Revenues grew by 166% to EUR 4,333 thousand in Q3 2000 compared to Q3 1999. The summer vacation months of July and August are traditionally weak. In September WWL’s monthly revenues surpassed EUR 2 million for the first time ever. In the third quarter 2000 wwl vision2market contributed 99.3% of total group revenues. The interactive segment contributed revenues of EUR 2,073 thousand, the network segment EUR 2,027 thousand and the services segment EUR 203 thousand, wwl vision2product generated revenues of EUR 10 thousand and trendscouts.com AG revenues of EUR 20 thousand. In the third quarter 2000 material expenses increased to EUR 1,723 thousand after EUR 573 thousand in the third quarter 1999. The gross margin went up from EUR 1,142 thousand to EUR 2,730 thousand. Compared to the third quarter 1999 the number of employees grew at a 180% rate from 134 to 375 by the end of September 2000. Personnel expenses increased from EUR 1,309 thousand to EUR 4,103 thousand accordingly. Other operating expenses in Q3 2000 caused by the group’s growth and non-operating special costs amounted to EUR 2,009 thousand after EUR 302 thousand in Q3 1999. Included in other operating expenses of EUR 2,009 thousand are non-operating special costs in the amount of EUR 390 thousand, mainly for M&A consulting services. The development of revenues, earnings before taxes, interest, depreciation and amortization (EBITDA), earnings before interest and taxes (EBIT), the consolidated net loss and earnings per share per IAS are as follows: Revenues: III Q 2000: EUR 4,333 thousand III Q 1999: EUR 1,631 thousand I-III 2000: EUR 12,066 thousand I-III 1999: EUR 3,954 thousand EBITDA: III Q 2000: EUR -3,382 thousand III Q 1999: EUR -3,090 thousand I-III 2000: EUR -7,242 thousand I-III 1999: EUR -3,808 thousand EBIT: III Q 2000: EUR -4,009 thousand III Q 1999: EUR -3,221 thousand I-III 2000: EUR -8,863 thousand I-III 1999: EUR -4,207 thousand Consolidated net loss: III Q 2000: EUR -2,438 thousand III Q 1999: EUR -1,734 thousand I-III 2000: EUR -5,341 thousand I-III 1999: EUR -2,324 thousand Earnings per share: III Q 2000: EUR -0.32 III Q 1999: EUR -0.36 I-III 2000: EUR -0.71 I-III 1999: EUR -0.49 In the third quarter 2000 earnings before Interest, taxes, depreciation and amortization (EBITDA) totaled EUR – 3,382 thousand after EUR – 3,090 thousand in the third quarter 1999. The EBITDA margin improved from – 189% in the third quarter 1999 to – 78%. The other profit margins also improved substantially compared to Q3 1999. In the third quarter 2000 total depreciation of EUR 627 thousand was recorded. This includes goodwill amortization of EUR 253 thousand. Financial income totaled EUR 82 thousand after EUR 122 thousand in Q3 1999. Earnings per share per IAS in the third quarter 2000 amounted to EUR – 0.32 after EUR – 0.36 in the third quarter 1999. WWL Internet AG was also in a strong phase of expansion in the third quarter 2000. During this phase we were not yet able to achieve our normal productivity at our new locations, which was expected. Even so, we were already able in the third quarter 2000 to improve our profit margins from operating activities from month to month. Adjusted for non-operating special costs, we nearly broke even in September 2000 – something which makes us optimistic about the fourth quarter 2000 and the future. With this in mind and concerning the fact that the growth in the number of employees will flatten out at a fast pace, we expect to make rapid progress in productivity. We are sticking with our forecasts made on October 17,2000, which predicted EBITDA of + EUR 1.2 million already in 2001 and net income adjusted for goodwill amortization of EUR 70,000. End of Message