SinnerSchrader : BUSINESS CONTINUED POSITIVE TREND IN THE SECOND QUARTER

/ BUSINESS CONTINUED POSITIVE TREND IN THE SECOND QUARTER
/ REVENUE 14 PER CENT OVER PREVIOUS YEAR; EBITA NEARLY DOUBLED
/ FORECAST FOR THE ENTIRE 2016/2017 FINANCIAL YEAR CONFIRMED

SinnerSchrader continued its positive business development in the second quarter of 2016/2017. From 1 December 2016 to 28 February 2017, SinnerSchrader achieved revenue of 13.7 million euros. The comparable figure for the previous year was thus exceeded by 13.8 per cent. Despite negative seasonal factors, revenue in the second financial quarter also surpassed the figure for the first quarter by 2.7 per cent. This is proof of an increase in the dynamics of the business development, as planned and expected.

The operating result (EBITA) of the quarter under review amounted to just under 1.0 million euros. In the second quarter of the previous year, SinnerSchrader had achieved an EBITA of a good 0.5 million euros. The EBITA of the quarter of the report includes costs of approx. 0.25 million euros for consulting services in connection with the business combination between SinnerSchrader and Accenture announced on 20 February 2017.

For the first half of the 2016/2017 financial year (1 September 2016 to 28 February 2017), revenue added up to 26.9 million euros. This was an increase in revenue over the first half of the 2015/2016 financial year of 2.1 million euros, or 8.5 per cent. Revenue for the preceding second half of the 2015/2016 financial year was exceeded by 2.1 per cent.

The EBITA of the half year under review reached almost 2.3 million euros. Compared to the same period of the previous year, EBITA was up by 0.9 million euros, or 66 per cent. The net income of the SinnerSchrader Group for the reporting period has improved by a similar rate of 65 per cent, amounting to just under 1.6 million euros or 0.14 euro per share.

At 1.9 million euros, the operating cash flow also developed positively in the first half of 2016/2017. Given the pay-out of 2.2 million euros in dividends in January 2017, the amount of liquid funds, however, decreased to a level of 5.4 million euros compared to 6.1 million euros as at 31 August 2016. The equity ratio was 58.4 per cent as at 28 February 2017. The number of employees reached 524 employees by the end of February, 19 employees more than at the end of the previous year.

Based on the positive development of revenue and earnings in the first half of the current financial year - subject however to personnel related expenses potentially incurred in connection with the implementation of the Business Combination Agreement with Accenture of up to 3.8 million euros - SinnerSchrader sees itself well on the way to achieving its forecast for the entire year of 2016/2017 announced in November 2016 - i.e. revenue of more than 56 million euros, EBITA in the range of 5.8 to 5.9 million euros and net income of at least 4 million euros, or 0.35 euros per share.

The full report of the SinnerSchrader Group for the second quarter and the first half of the 2016/2017 financial year will be made available at http://www.sinnerschrader.ag/en/reports on 13 February 2017 at 4 p.m. CET.

ABOUT SINNERSCHRADER
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, BMW, 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, Prague and Hanover. Since April 2017, SinnerSchrader has been part of Accenture Interactive.
http://sinnerschrader.com