Intershop resolves strategic plan 'Lighthouse 2020' and adjusts annual targets
Jena, 10 October 2016 - The Management Board and the Supervisory Board of Intershop Communications AG which was newly composed as of mid-2016, today resolved the strategic plan "Lighthouse 2020" and specified the company's strategic targets in order to make Intershop fit for the future. The related restructuring measures and the lacking growth momentum in the year to date have prompted the company to adjust its annual forecast. Intershop now projects revenues of between EUR 34 million and EUR 36 million as well as negative earnings before interest and taxes (EBIT) of between EUR 1 million and 2.5 million including special exceptional expenses of approx. EUR 1 million. The company had previously expected EBIT to be positive and slightly higher than in the previous year. The restructuring measures primarily serve to increase the company's efficiency through personnel adjustments in administration, which will result in annual cost savings of approx. EUR 3 million starting 2017. At the same time, the company plans to make investments in the same amount in sales and marketing, where departments are to be centralized and the workforce is to be expanded to support the focus on the wholesale sector. A revenue target of EUR 50 million and an EBIT margin target of 5% have been set for the "Lighthouse 2020". The strategic focus of the roadmap adopted by the governing bodies is on the concentration on the B2B market, especially the wholesale sector that is facing massive changes resulting from digitalization and therefore offers above-average potential for growth. Furthermore the company will focus on the consistent expansion of the cloud business building on the Intershop 7.8 Cloud solution, which is to be launched in November. For further information on the "Lighthouse 2020", see the interim report on the first nine months of 2016, which will be published on 2 November.
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10.10.2016 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
Language: English Company: Intershop Communications AG Intershop Tower 07740 Jena Germany Phone: +49 (0)3641-50-0 Fax: +49 (0)3641-50-1309 E-mail: email@example.com Internet: www.intershop.de ISIN: DE000A0EPUH1 WKN: A0EPUH Indices: CDAX, PRIMEALL, TECHALLSHARE Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange End of Announcement DGAP News-Service