PopNet Internet AG
Ad hoc-Service: Popnet Internet AG half resul
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Special announcement: 1st half results just in
PopNet Internet AG releases 1st half figures for 2000:
Group revenue up 343 percent over previous year / Sales
in 2nd quarter well above target
PopNet Internet AG is experiencing some very
substantial growth. Group revenue in the first half of
the year increased by 343 percent compared with the
same period the previous year, reaching a total of DM
14.75 million. This sharp rise in revenue was entirely
attributable to organic growth.
Hamburg-based PopNet Internets core business is
represented by its subsidiary PopNet Kommunikation a
full service, interactive service provider. PopNet
Kommunikation experienced a jump of 131 percent in
revenue between the first and second quarters of 2000
alone (from DM 6.33 million to DM 14.61 million,
respectively), exceeding the budgeted target by some DM
4.44 million, or 43 percent. EBITDA (earnings before
interest, tax, and depreciation, according to IAS) at
the end of the 2nd quarter was DM – 105,000. The
company has thus made significant progress towards
achieving its stated goal of reaching the break-even
point by next year.
The positive trend can be ascribed to the companys
revenue from providing services. PopNet Kommunikation
managed to win such major clients as Astrium (Europes
largest aerospace enterprise), the online marketplace
of Pecunet and the worlds largest energy service
provider, E.ON, thereby continuing its record of
winning seven-figure budgets. PopNet Kommunikation was
also the interactive service provider exclusively
charged with redesigning the Internet presence of
comdirect Bank, enabling the company to even further
diversify its client base.
And the upward trend is being maintained in the third
quarter of the year, as the company has secured an
Internet contract in the distinct seven-figure range
from German automotive giant, BMW (www.bmw.de).
PopNet Agentscape AG, a developer of high-tech
software, also had a good first half. In May, PopNet
Internet AG increased its shareholding in the company
from 40 to 52.5 percent. The resulting capital increase
was recorded in July of this year in the German
Commercial Register, so that PopNet Agentscape AG
continued to be treated as a 40 percent consolidated
shareholding in the 2nd quarter. The agent-driven
dating site, FlirtMaschine.de, launched on 26 April,
performed well over target, acquiring 73,713 members by
30 June, compared with an anticipated 50,000. The core
business of PopNet Agentscape i.e. the development of
its basic software product Si.MON also made great
strides. Initial B2B applications for this program are
expected in the third quarter of the year.
PopNet Crossmedia GmbH, publisher of the dual-media
product, Gold.de, and an associated firm according to
IAS 28, was only recognized in the Groups consolidated
financial report via the equity method.
The Group recorded a loss of DM -4.180 million in the
second quarter before tax, interest and write-downs
(EBITDA, in accordance with IAS). Overall, the Groups
annual net loss for the first half-year, calculated in
accordance with IAS, amounted to -8.110 million. This
figure however includes DM 2.620 million in write-
downs, of which DM 1.485 million alone stems from write-
downs of acquired goodwill within the PopNet Internet
AG balance sheet. PopNet Agentscape AG invested DM
1.954 million in the further development of its Si.MON
software, and additional investment in staff and
equipment was required to build up its IT subsidiaries
in Kiev, Ukraine, and Mumbai, India. This targeted
investment in developing IT resources represents the
cornerstone for PopNet Internets sustained growth over
the next few years.
The Groups overall above-average growth is also
reflected in the number of staff employed: By the end
of June, PopNet Internet AG had some 323 employees; in
March, the figure was only 237.
For more information, please contact:
Investors: Janice Buchholtz, Head of Investor
Relations,
Phone: +49 (0)40-27827-269, e-mail:
j.buchholtz@popnet.de
Media: Susanne Jesche, Head of Corporate
Communications,
Phone: + 49 (0)40- 27827-141, e-mail:
s.jesche@popnet.de
End of Message
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