.
- Revenue as expected declined to EUR 82.4 million
- Earnings increased to EUR 5.83 million
- EBITDA decreased to EUR 6.42 million due to one-time special items
- Equity ratio increased to 51.76%
- Positive start to the year 2011 - Positive outlook confirmed
- Proposed dividend of EUR 0.02
3U HOLDING AG (ISIN DE0005167902) today published its annual report for fiscal year 2010.
Group sales expectedly decreased significantly from EUR 92.08 million by EUR 9.68 million to EUR 82.40 million. Mainly responsible is the segment Telephony which has to compete in a rapidly shrinking market in which the level of competition continues to be high. This sharp drop in sales could not be compensated by the new business segments yet, since the available resources had to be temporarily used in fundamentally important projects, which will contribute only in the medium term to sustainable business success.
With an EBITDA of EUR 6.42 million, EBITDA was halved compared to fiscal year 2009 (EUR 13.24 million). In addition to lower profits from the segment Telephony also various one-time special items contributed to this.
Also influenced by one-time special items, the Group increased its earnings decisively to EUR 5.83 million after reporting just slightly positive earnings of EUR 0.04 million the previous year.
With EUR 78.00 million total assets remained almost unchanged compared to the previous year level of EUR 78.32 million. As a result of the net profit for the year, equity increased by EUR 2.9 million from EUR 37.41 million to EUR 40.31 million. It should be noted, that a capital reduction of 3,244,714 shares (6.93% of the share capital) was made in the past financial year and an additional 4.14 million shares were in the possession of 3U HOLDING AG on the balance sheet date. Accordingly, the corresponding equity attributed to each share rose by EUR 0.20 to EUR 1.02 as at December 31, .2010. The equity ratio has improved steadily since 2005, exceeding the mid 50% mark for the first time in the middle of the year. At December 31, 2010, the equity ratio was at 51.76% compared to 47.75% as at 31 December 2009.
Liquid funds decreased from EUR 33.29 million (December 31, 2009) to EUR 29.14 million as at December 31, 2010. Compared to the status at the end of the third quarter 2010 (EUR 26.87 million) this represents a rise of EUR 2.27 million It should be noted that in the past fiscal year, approximately EUR 4.80 million (2009: EUR 4.17 million) were invested primarily in the development of the technical locations and the new Group headquarters as well as in the development of new business areas.
Due to the positive development of the Group, which continues at the beginning of 2011, the Management Board of 3U HOLDING AG expects sales of about EUR 100 to 110 million, EBITDA of EUR 12.0 to 14.0 million and earnings of about EUR 4.0 to 5.5 million in fiscal year 2011.
The Supervisory Board of 3U HOLDING AG approved the Management Board's resolution to propose a dividend payment of EUR 0.02 per share from the net retained earnings for fiscal 2010 at the Annual General Meeting to be held in Marburg on May 26, 2011.
The Annual Report 2010 can be downloaded from the website of 3U HOLDING AG at www.3u.net.
- Revenue as expected declined to EUR 82.4 million
- Earnings increased to EUR 5.83 million
- EBITDA decreased to EUR 6.42 million due to one-time special items
- Equity ratio increased to 51.76%
- Positive start to the year 2011 - Positive outlook confirmed
- Proposed dividend of EUR 0.02
3U HOLDING AG (ISIN DE0005167902) today published its annual report for fiscal year 2010.
Group sales expectedly decreased significantly from EUR 92.08 million by EUR 9.68 million to EUR 82.40 million. Mainly responsible is the segment Telephony which has to compete in a rapidly shrinking market in which the level of competition continues to be high. This sharp drop in sales could not be compensated by the new business segments yet, since the available resources had to be temporarily used in fundamentally important projects, which will contribute only in the medium term to sustainable business success.
With an EBITDA of EUR 6.42 million, EBITDA was halved compared to fiscal year 2009 (EUR 13.24 million). In addition to lower profits from the segment Telephony also various one-time special items contributed to this.
Also influenced by one-time special items, the Group increased its earnings decisively to EUR 5.83 million after reporting just slightly positive earnings of EUR 0.04 million the previous year.
With EUR 78.00 million total assets remained almost unchanged compared to the previous year level of EUR 78.32 million. As a result of the net profit for the year, equity increased by EUR 2.9 million from EUR 37.41 million to EUR 40.31 million. It should be noted, that a capital reduction of 3,244,714 shares (6.93% of the share capital) was made in the past financial year and an additional 4.14 million shares were in the possession of 3U HOLDING AG on the balance sheet date. Accordingly, the corresponding equity attributed to each share rose by EUR 0.20 to EUR 1.02 as at December 31, .2010. The equity ratio has improved steadily since 2005, exceeding the mid 50% mark for the first time in the middle of the year. At December 31, 2010, the equity ratio was at 51.76% compared to 47.75% as at 31 December 2009.
Liquid funds decreased from EUR 33.29 million (December 31, 2009) to EUR 29.14 million as at December 31, 2010. Compared to the status at the end of the third quarter 2010 (EUR 26.87 million) this represents a rise of EUR 2.27 million It should be noted that in the past fiscal year, approximately EUR 4.80 million (2009: EUR 4.17 million) were invested primarily in the development of the technical locations and the new Group headquarters as well as in the development of new business areas.
Due to the positive development of the Group, which continues at the beginning of 2011, the Management Board of 3U HOLDING AG expects sales of about EUR 100 to 110 million, EBITDA of EUR 12.0 to 14.0 million and earnings of about EUR 4.0 to 5.5 million in fiscal year 2011.
The Supervisory Board of 3U HOLDING AG approved the Management Board's resolution to propose a dividend payment of EUR 0.02 per share from the net retained earnings for fiscal 2010 at the Annual General Meeting to be held in Marburg on May 26, 2011.
The Annual Report 2010 can be downloaded from the website of 3U HOLDING AG at www.3u.net.
