Active ISP heeft haar resultaten voor het derde kwartaal van 2003 bekend gemaakt. Voor het derde achtereenvolgende kwartaal heeft de onderneming groei in omzet en operationele winst gerealiseerd, terwijl de resultaten in het derde kwartaal normaliter lager zijn dan in de voorgaande kwartalen.
Omzet van de groep (exclusief Virtual Internet) is gegroeid met 4% en het operationele resultaat met 40% ten opzichte van het vorige kwartaal.
Details vindt u in onderstaand persbericht. Als u naar aanleiding van het bericht met een woordvoerder van Active ISP wilt spreken, dan kunt u contact opnemen met Mascha Dolman van Ladot, op 020 578 7700 of via mascha@ladot.com.
Met vriendelijke groet,
Ezra van Tiel
Text 100 Public Relations
Tel: +31 20 530 4343
Email: Ezra.vanTiel@text100.nl
- PERSBERICHT -
Active ISP's improved results continue
Q3 2003 Highlights for the Active IPS Group
Oslo, November 5 2003
For the third quarter, Active ISP reports continued steady growth in revenue and operating profit. Recognised revenue of the group excluding Virtual Internet ("VI") was up by 4% compared to the previous quarter and the operational result (EBITDA) of EUR 0.8 mill was an increase of more than 40% compared to Q2. Net earnings* were EUR (0,1) mill for the quarter, but this was due to a EUR 0.4 mill negative exchange rate variation between the Norwegian Krone and other European currencies.
Including VI, revenue of the group was EUR 6.3 mill and operating result
(EBITDA) of the group was EUR 0.9 mill. Cash and Bank increased by EUR 0.5 mill during the quarter.
Eric Tolsma, CEO: "Historically, sales during the third quarter are always lower than during the rest of the year. We are pleased to see that this year is different with a third quarter that is showing higher sales than the first and second quarter - especially when we take into consideration the extreme summer climate this year. We are also very satisfied with the performance of VI in the UK. It is proving to be a great addition to Active ISP and I expect they will continue to add to the group results".
Financial highlights of the third quarter
* Recognised revenues of EUR 5.4 mill (EUR 6.3 mill incl.
VI), an increase of 4% or EUR 0.2 mill over Q2 2003 of EUR 5.2 mill
* Operating profit of EUR 0.8 mill (EUR 0.9 mill incl. VI),
compared to Q2 2003 profit of EUR 0.56 mill
* Net earnings* of EUR (0.1) mill compared to net earnings of
EUR 1.3 mill in Q2 2003
* Cash and Bank was EUR 8.9** mill as of 30 September 2003
compared to EUR 8.4 mill at the end of Q2 2003
Key milestones in the third quarter
Virtual Internet finished the move of the data center to a larger and improved location while significantly reducing the monthly rental and operating costs. In Sweden the liberalization of the domain market in Q2 and the pre-registration of .se IDN had a positive impact on new sales in Q3.
Active ISP Norway joined Microsoft as a preferred hosting partner on their Norwegian roadshow with a focus on Windows 2003 Hosting and ASP.net. Ladot introduced in the Netherlands a new sitebuilder and online photobook tool, which will be rolled out across all countries in the coming quarter.
On October 1st, Thomas W. N. Christensen joined the management of the company as Chief Financial Officer. Thomas is an experienced CFO, returning to Oslo after having spent some years in the USA in similar positions.
*Note: Because Active ISP ASA has historically a significant amount of loans denominated in Euro's outstanding to its foreign subsidiaries, currency differences between the Norwegian Krone and the Euro lead to large financial technical effects in the P&L. These effects should not be evaluated as realized profit from operations.
**Note: Aprox. Euro 0.4 mill of the cash increase in Q3 is due to timing of a number of receivables and payables. Consequently, management expects a reversed effect during Q4.
P&L Q3 2003 vs trailing 6 quarters (in EUR mill)
Q3-03* Q2-03* Q1- 03 Q4- 02 Q3-02 Q2-02
Q1-02
Net Sales 5.4 5.2 4.9 5.0 5.5 5.4 5.2
Direct Costs (1.1) (1.2) (1.3) (1.9) (1.5) (0.9)
(1.3)
Gross profit 4.3 4.0 3.6 3.1 4.0 4.5 3.9
Gross margin 79% 77% 74% 62% 73% 84% 75%
Operating Costs (3,5) (3.4) (3.4) (5.7) (3.9) (4.3)
(6.3)
EBITDA 0.8 0.56 0.2 (2.6) 0.1 0.2
(2.4)
Depreciation (0.9) (0.8) (0.8) (3.9) (1.0) (1.1)
(1.0)
EBIT (0,1) (0.2) (0.5) (6.5) (0.9) (0.9)
(3.4)
Restructuring - - - - - (1.8) -
Financial items, net 0.3 - 0.2 - 0.3 0.3
0.3
FX-rate change (0.4) 1.6 2.4 (3.8) - - -
Net Earnings (0,1) 1.3 2.1 (10.3) (0.6) (2.4)
(3.1)
* VI figures are not included for comparison reasons
Balance Sheet Q3 2003 vs Q2 2003 and Q1 2003 (in EUR million)
Q3-03 Q2- 03 Q1- 03
Assets
Total Fixed Assets 5.2 5.4 5.4
Cash and Bank 8.9 8.4 22.9*
Other current assets 5.5 6.6 6.3
Total Current Assets 14.4 15.0 29.2
Total Assets 19.6 20.4 34.6
Liabilities
Current Liabilities 14.2** 14.9** 28.6*
Long term Liabilities 1.3 1.5 1.9
Total Group Equity 4.1 4.0 4.1
Total Liabilities 19.6 20.4 34.6
*Note: Current Liabilities and Cash and Bank both include EUR 13.6 mill because of the planned capital reduction.
**Note: Current Liabilities include deferred revenue from previous periods.
About Active ISP
Active ISP is a leading pan-European provider of Internet-related services with over 200.000 customers. We offer domain name, web space, e-commerce and database services, plus more advanced solutions like cluster and dedicated servers to European business customers.
Active ISP ASA was founded in May 1998 and is headquartered in Oslo, Norway with local country operations in Sweden, the UK and The Netherlands as well as representation in other European markets. Active ISP puts special focus on the development of standardised solutions with a high degree of user-friendliness and scalability. Through Active ISP's products and services, our customers reduce their Internet related costs and increase the quality, reliability and possibilities of their business.
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Forward Looking Statements
The statements contained in this release that are not historical facts may be deemed to contain forward-looking statements and results may differ from those anticipated as a result of certain risks and uncertainties.
For more information about Active ISP ASA: <http://www.activeisp.co>
Or contact:
Active ISP ASA, Eric Tolsma, CEO
Phone +47 21 93 30 00, e-mail: eric.tolsma@activeisp.com
Ladot, Mascha Dolman
Phone +31 20 578 7700, e-mail: mascha@ladot.com