SINNERSCHRADER FINISHES 2016/2017 FINANCIAL YEAR WITH A GOOD FOURTH QUARTER / PROVISIONAL RESULTS FOR THE ENTIRE YEAR SLIGHTLY ABOVE THE FORECAST / FINAL RESULTS TO BE PUBLISHED PRESUMABLY ON 20 OCTOBER 2017
SinnerSchrader closed the financial year 2016/2017 (1 September 2016 to 31 August 2017) with a pleasing fourth quarter. On the basis of provisional, unaudited figures, SinnerSchrader achieved quarterly revenues of some 14.6 million euros. This corresponds to an increase by almost 13 per cent compared to the same quarter of the previous year. All three business segments contributed to the Group's overall development with sound growth rates. The development of the mobile business in the Interactive Marketing segment and of the content marketing business in the Interactive Media business was particularly pleasing.
Operating earnings (EBITA) before direct costs incurred by SinnerSchrader in connection with the conclusion and implementation of the merger agreement signed with Accenture on 20 February 2017 reached approx. 2.2 million euros in the fourth quarter of 2016/2017, surpassing previous year's EBITA by around 12 per cent.
The provisional operative figures for the whole year of 2016/2017, thus, came out slightly ahead of the forecast. Annual revenue added up to a total of between 56.6 million euros and 56.7 million euros. That corresponds to a growth rate of the SinnerSchrader business of more than 10.5 per cent. The forecast - originally published in November 2016 - allowed for growth by around 10 per cent and revenues of more than 56 million euros.
The preliminary figures from the consolidated annual accounts show operating earnings before business combination cost of between 6.2 million euros and 6.3 million euros. An EBITA in the range from 5.8 million euros to 5.9 million euros had been forecast. Consequently, net income before business combination cost will likely meet or exceed the minimum target of 4 million euros and 0.35 euros per share, respectively.
With respect to the costs incurred in connection with the conclusion and implementation of the merger agreement with Accenture based on the provisional numbers, SinnerSchrader expects a burden of some 2.8 million euros of which a good part were employee-related costs most prominently compensatory payments in connection with the revocation of the outstanding employee stock options. 2.4 million euros of the total cost were incurred in the fourth quarter. Thus, the annual income statement for the 2016/2017 financial year will likely show an EBITA between 3.4 million euros and 3.5 million euros.
SinnerSchrader will be consolidated into Accenture's group accounts based on the provisional numbers. The final, audited Consolidated Financial Statements and Financial Statements of SinnerSchrader AG will presumably be published on 20 October 2017, together with a forecast for the new financial year of 2017/2018 and a dividend proposal for the Annual General Meeting.
SinnerSchrader is one of the leading digital agencies in Europe with the focus on the design and development of digital products and services. More than 500 employees work on digital transformation for companies such as Allianz, Audi, comdirect bank, ERGO, Telefónica, TUI, Unitymedia and VW. SinnerSchrader was founded in 1996, has been listed on the stock exchange since 1999 and has offices in Hamburg, Berlin, Frankfurt am Main, Munich, and Prague. Since April 2017, SinnerSchrader has been part of Accenture Interactive.
Carmen Fesenbeck Corporate Communicationspresse@sinnerschrader.com
INVESTOR RELATIONS CONTACT
Thomas Dyckhoff CFOir@sinnerschrader.com
SinnerSchrader Aktiengesellschaft Völckersstraße 38 22765 Hamburg T. +49. 40. 39 88 55-0 F. +49. 40. 39 88 55-55
15.09.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.deLanguage: English Company: SinnerSchrader AG Völckersstraße 38 22765 Hamburg
Germany Phone: +49 (0)40 39 88 55-0 Fax: +49 (0)40 39 88 55-55 E-mail: firstname.lastname@example.org Internet: www.sinnerschrader.com ISIN: DE0005141907 WKN: 514190 Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange End of News DGAP News Service