INTERSHOP Communications AG — Earnings Release 2008

Aug 7, 2008

News Details

Ad-hoc | 7 August 2008 08:33

Intershop continues on positive growth path with renewed profit

Intershop Communications AG / Quarter Results

Release of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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• Net profit for the fourth consecutive quarter
• Revenue growth of 9% in the first six months of 2008
• Unrestricted cash and cash equivalents now risen to EUR 7.4 million

Jena, Germany, August 7, 2008 – Intershop Communications AG (Prime
Standard: ISH2) today announced its results for the second quarter and the
first half of 2008.

Intershop ended the past three months in profit for the fourth consecutive
time. Earnings before tax for the first half of 2008 amounted to EUR 0.8
million. Half of this figure was generated in Q2, despite a one-time charge
of EUR 0.25 million in this quarter. This means the Company has recorded
positive net earnings from operating activities (before restructuring
expenses in 2007) for the fifth consecutive quarter, and positive net
earnings overall for the fourth consecutive quarter.

Revenues
Intershop's gross revenues rose by 11% to EUR 16.1 million in the first six
months of fiscal year 2008, up from EUR 14.6 million in the prior-year
period; total net revenues were up 9% year-on-year, from EUR 12.7 million
to EUR 13.8 million. Net revenues from services, maintenance, and other
included in this figure rose by 21%, from EUR 9.8 million to EUR 11.9
million. In the second quarter of 2008, this item increased by 10% compared
with the prior-year period, from EUR 5.5 million to EUR 6.0 million. Total
net revenues for the quarter amounted to EUR 6.9 million, compared with EUR
7.5 million in the prior-year quarter (however, it should be noted that the
figure for the corresponding prior-year quarter includes license revenues
of EUR 1.4 million from a major order).

Earnings
Intershop was able to sustain its positive earnings trend thanks to its
results for the second quarter: the result from operating activities (EBIT)
amounted to EUR 0.4 million in the second quarter of 2008. Overall, EBIT of
EUR 0.8 million was generated in the first half of 2008. EBIT in both the
comparable prior-year quarter and the first six months of 2007 was clearly
negative, at EUR -1.6 million and EUR -3.0 million respectively. The EBIT
margin improved as against the first half of 2007 from -24% to +6%.

Earnings after tax totaled EUR 0.3 million in Q2 2008, while Intershop's
earnings per share were EUR 0.01. Overall, earnings after tax for the first
six months amounted to EUR 0.6 million and earnings per share were EUR
0.02. In the prior-year quarter and the first half of 2007, losses after
tax of EUR 1.7 million and EUR 3.1 million respectively were recorded,
resulting in losses per share of EUR 0.07 and EUR 0.12.

Balance sheet and cash flow
Intershop's equity increased from EUR 12.4 million as of December 31, 2007
to EUR 13.3 million as of June 30, 2008. The equity ratio was unchanged at
53%.

Unrestricted cash increased from EUR 5.9 million as of December 31, 2007
and EUR 2.7 million as of June 30, 2007 to EUR 7.4 million as of June 30,
2008. Total liquidity (cash and restricted cash) amounted to EUR 9.0
million as of June 30, 2008.

Outlook
The results for the first six months of 2008 confirm the forecast that
Intershop will generate a significant profit for 2008 as a whole.

The full press release relating to this adhoc disclosure is available at
www.intershop.com.

Public Relations:
Dr. Ute Danz
T: +49-3641-50-1000
F: +49-3641-50-1002
pr@intershop.com

Investor Relations:
Annett Koerbs
T: +49-3641-50-1370
F: +49-3641-50-1309
ir@intershop.com

07.08.2008 Financial News transmitted by DGAP

Language: English
Issuer: Intershop Communications AG
Intershop Tower
07740 Jena
Deutschland
Phone: +49 (0)3641-50-0
Fax: +49 (0)3641-50-1002
E-mail: ir@intershop.de
Internet: www.intershop.de
ISIN: DE000A0EPUH1, DE000A0C4ZE3
WKN: A0EPUH, A0C4ZE
Indices: CDAX, PRIMEALL, TECHALLSHARE
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Stuttgart, München, Hamburg, Düsseldorf

End of News DGAP News-Service

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