WWL Internet AG
WWL Internet AG english
Improved earnings in the third Quarter 2001 at WWL – Revenues below 2000 levels
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Improved earnings in the third Quarter 2001 at WWL , Revenues below 2000 levels
Nuremberg, November 14, 2001. The IT service provider WWL Internet AG had
revenues of EUR 2.8 million in the third Quarter 2001 (Q3 2000: EUR 4.3
million). EBIT were EUR -1.5 million compared to EUR -4.0 million in third
Quarter 2000, consolidated earnings of EUR -1.5 million were EUR 0.9 million
above third Quarter 2000 (EUR -2.4 million). This material improvement in
earnings – despite the extremely difficult market conditions – confirms the
success of the restructuring program initiated by the new Management Board in
the Summer of 2001.
Revenues and earnings during the first nine months, however, are still
influenced by the very weak first six months of 2001. Revenues for that period
amounted to EUR 9.6 million (01-09 2000: EUR 12.1 million). EBIT were EUR -12.0
million (01-09 2000: -8.9 million), consolidated earnings were EUR -13.2 million
(01-09 2000: EUR -5.3 million).
The Company projects revenues of about EUR 12 million for the full year. These
revenues, which are less than year 2000 revenues (EUR 17.2 million), result on
the one hand from the drastic cuts in activities in the network segment, on the
other hand from closure of a total of three European locations since the
beginning of the year.
As of 09/30/2001 WWL Internet AG still had 176 employees; the personnel expenses
ratio sank in the third Quarter to 63 percent. Since the most recent increase
in capital, liquidity as of September 30, 2001 amounts to EUR 4.5 million.
The most important key figures (in millions of EUR):
Q3 2001 Q3 2000 01-09 2001 01-09 2000
Revenues 2,8 4,3 9,6 12,1
EBITDA -0,6 -3,4 -9,6 -7,2
EBIT -1,5 -4,0 -12,0 -8,9
Consol. earnings -1,5 -2,4 -13,2 -5,3
Earn per share EUR -0,18 -0,32 -1,67 -0,71
Please direct any queries to: WWL Internet AG, Monika Sommer, Investor
Relations, Phone: 0911/2526-553, Fax: 0911/2526 ,109, Mail: monika.sommer@wwl.de
end of ad-hoc-announcement (c)DGAP 14.11.2001
Issuer’s information/explanatory remarks concerning this ad-hoc-announcement:
Since the Summer of 2001, WWL has two new members of the Management Board
Angelika Benkert and Werner Kuno Loechle, both from outside the company who are
pressing forward with the unavoidable consolidation of the loss-making Company.
The most important aspects are the refocus on core expertise, adjusting
personnel levels to busines developments as well as closing unprofitable
locations. WWL still has five locations in Germany (in addition to the
headquarters in Nuremberg, branches in Berlin, Cologne, Munich and Stuttgart).
All of its foreign locations have been either closed or sold.
In the third Quarter 2001 the Company nearly completely retreated from the
network segment, which still had contributed nearly EUR 2 million in revenues in
the first six months. This retreat underscores the Company’s resolute focus on
its core expertise.
With its current payroll of 176 employees, the Company is concentrating
completely on both the interactive segment (revenues 01-09 2001: EUR 5.9
million) the multimedia creation of innovative web solutions as well as on
corresponding consulting services (respective revenues in the services segment
01-09 2001: EUR 1.4 million). The current personnel strength corresponds to
business developments and the structure of a mid-size service provider. The
administrative section was slimmed down by half.
Newest business developments indicate that this concentration will be
successful. Despite nearly halving their personnel levels, each of the remaining
locations was able to increase its revenues in the third Quarter 2001 over the
second Quarter. In the aggregate, these branch offices’ revenues grew in the
third Quarter by 27 percent to EUR 2.8 million. In September 2001, the Company
realized positive EBITDA in the amount of EUR 0.1 million for the first time.
Based on this development, WWL Internet AG projects that it will turn a profit
in the second Quarter of 2002.
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WKN: 783 010; Index:
Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf,
Hamburg, Hannover, München und Stuttgart
140730 Nov 01
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