euro adhoc: OnVista AG / Annual Reports / Successful financial year 2002: Return to the black / Positive cash flow / Cost reduction (E)

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7 April 2003 - In the financial year 2002, OnVista AG (DE0005461602) returned to profitability despite difficult market conditions. The group pre-tax result (EBT) totalled Euro 0.15 mill., slightly exceeding the company’s projections. In the previous year, OnVista still recorded a highly negative EBT of Euro -9.81 mill. As predicted, EBIT was negative (Euro -1.19 mill.) but did improve considerably compared to the previous year (Euro -5.68 mill.). EBITDA was even more positive than the pre-tax result. After Euro -2.56 mill. in the previous year, EBITDA totalled Euro 1.44 mill. in the year under review. Contrary to the last forecast, the group after-tax result was highly positive at Euro 2.45 mill. The large increase is purely the result of technical accounting. The reason lies in the spin-off of the two operating business segments, Technologies and Media, into independent limited liability companies and the related disclosure of hidden reserves, which led to the creation of prepaid deferred taxes in the group accounts. This is a one-off effect without impact on liquidity and does not materially affect the company’s economic position.

The only key figure affected is the after-tax result under US GAAP. The positive performance in operating business was primarily due to cost savings in the amount of Euro 1.92 mill. (-11%) to Euro 15.06 mill. (prev. year: Euro 16.98 mill.). Group sales totalled Euro 12.58 mill., after Euro 12.60 mill. in 2001. Total income from operating business, including additional income from licence agreements shown under ‘other operating income’ (Euro 0.87 mill.), amounted to Euro 13.45 mill., 6.7% higher than the result of the previous year. The Technologies business segment accounted for 72% of group sales with the Media business segment generating 28%. Both segments made a positive contribution to the group result.

In contrast to the previous year (Euro -5.77 mill.), cash flow was positive, totalling Euro 1.16 mill. As at 31 Dec. 2002, cash and cash equivalent positions increased to Euro 27.46 mill. (31.12.2001: Euro 27.27 mill.). The cash value per share rose to Euro 4.10 (31.12.2001:
Euro 4.07).

Consolidated financial statements under US GAAP; detailed press release in German language:, heading 'Presse'; publication of the annual report at time of Annual Press Conference on 16 April 2003 at:, heading 'Investor Relations'.

OnVista has been listed on the Frankfurt Regulated Market (Geregelter Markt) since 1 Jan 2003, Prime Segment.

Further inquiry note:
Stefan Bohlmann (IR)
tel. +49(0)2203 9146 220

Anja Seipp (Press)
tel. +49(0)2203 9146 306
Tel: +49(0)2203 9146-0
FAX: +49(0)2203 180 640

end of announcement euro adhoc

Emittent: OnVista AG
Stollwerckstr. 3-5
DE-51149 Köln
Tel: +49(0)2203 9146-0
FAX: +49(0)2203 180 640
ISIN: DE0005461602
WKN: 546160
Indizes: Nemax
Börsen: Neuer Markt Frankfurter Wertpapierbörse; free trade Baden-Württembergische Wertpapierbörse, Bayerische Börse, Berliner Wertpapierbörse, Bremer Wertpapierbörse (BWB), Börse Düsseldorf, Hamburger Wertpapierbörse, Niedersächsische Börse zu Hannover Branche: Computing & Information Technology
Sprache: Englisch