ots Ad hoc-Service: buecher.de AG <DE0005285209>

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buecher.de is delighted with business growth

Four-fold increase in revenues, orders up 300 per cent. Growth and profits forecasts realised.

buecher.de, Germany's leading independent Internet bookseller, is attending this year's Frankfurt Book Fair with new products and unique marketing activities, and is able to post results to the end of the third-quarter '99 which correspond to forecasts made at the time of the IPO.

In the third-quarter 1999, buecher.de reported revenues of around DM3 million. This is four times higher than the DM700,000 posted for the same period last year. In the first three quarters of the current financial year, revenues rose to DM6.3 million, compared to just DM1.4 million for the first nine months of the previous year. This represents a more than four-fold increase. For the fourth quarter, which includes the extremely busy Christmas period, the company expects a further hike in revenues equivalent to the whole of the first three quarters of the year to push annual revenues well over the DM12 million mark. Since the IPO, orders have tripled. Currently, considerably more than 2,000 books are sold daily.

For the first three quarters , the company points to a deficit of DM3 million (according to US GAAP accounting rules, not including the one- off costs of the initial public offering). This result was within estimates and was caused primarily be strategic marketing measures, which cannot be classified as investments. In addition, the deficit improved slightly over the course of the financial year vis a vis the revenue situation, despite the significantly higher marketing expenditures. "Without these costs, which are, nonetheless, unavoidable for the future success of buecher.de, we would already be posting a profit," states Richard Freiherr von Rheinbaben, Chairman of the Board. "We and our shareholders intend to tolerate technical accounting losses for a further one year to eighteen months," Rheinbaben says. "Overall, we are very satisfied with business growth. In comparison with other young e-commerce stocks, we are performing extremely well. And we will continue to implement the growth strategy established at the time of the IPO."

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