WWL Internet AG
Ad hoc-Service: WWL Internet AG english
Ad hoc announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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New Investor: XL Venture strengthens WWL
WWL has two new strategic partners: XL Venture and TellSell – both specialized
in eBusiness / WWL Lilienthal, Optinet Datentechnik, WWL Prague and FlowChief
sold / Personnel cuts and concentration on core expertise nearly completed /
Earnings burdened by restructuring measures for the last time in Q1 2001 / The
groundwork has been laid to reach profitability in Q4 2001
(Nuremberg, May 21, 2001) XL Venture GmbH, a venture capital fund which receives
80% of its financing from Beisheim Holding Schweiz (BHS), has acquired an 8%
share of WWL. This transaction will provide the Company with up to EUR 3.5
million in cash. Now WWL’s liquidity is ensured.
TellSell Consulting GmbH für Marketing und Vertrieb, a 90% subsidiary of BHS,
contributes its many years of experience as an eBusiness consultant. It is
pushing the implemented measures for strengthening sales and cutting costs.
In selling unprofitable activities, WWL has already made great progress. WWL was
able to execute management buy-outs of WWL Lilienthal as of 03/31/2001 as well
as with WWL Prag and for FlowChief as of Q2 2001. Optinet Datentechnik was sold
effective 05/16/2001. The planned concentration on core expertise has therefore
been completed to a great extent.
With sales of TEUR 4,041 – above target – WWL has unadjusted EBITDA of TEUR –
7,577 and EBIT of TEUR – 8,719 in Q1 2001. Adjusted for the effects of
restructuring, WWL had EBITDA of TEUR – 2,587 and EBIT of TEUR -2,983. Cash had
a balance of TEUR 4,366 as of 03/31/2001 and EUR 3.6 million as of 05/15/2001
(EBITDA: TEUR – 1,647 (Q1 2000) and TEUR – 4,407 (Q4 2000); EBIT: TEUR – 2,126
(Q1 2000) and TEUR – 18,367 (Q4 2000); cash: TEUR 26,358 (Q1 2000) and TEUR
9,176 (Q4 2000)).
The revised business plan envisions reaching the break-even point in the 4th
Quarter of 2001 based on a conservative estimate of annual revenues of EUR 15.3
million.
end of ad hoc announcement (c) DGAP 21.05.2001
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WKN: 783 010; Index:
Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf,
Hamburg, Hannover, München und Stuttgart
210731 Mai 01
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