euro adhoc: OnVista AG / Quarterly or Semiannual Financial Statements / Six months report 2003: Group sales match last year’s level / OnVista Media doubles profit / OnVista Technologies records sales and performance deficit / Distinctly positive group result 2003 forecast (E)

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Disclosure announcement transmitted by euro adhoc.
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In the first six months of 2003, OnVista generated group sales of
Euro 5.59 mill., compared to Euro 5.60 mill. in the same period last
year. Sales therefore remained almost unchanged (-0.2%). In the
second quarter of 2003, group sales amounted to Euro 2.76 mill. This
represents a fall of 2.7% compared to the same quarter last year
(Q2/02: Euro 2.83 mill.).

According to plan, the after-tax group result in the first six months
of 2003 was negative, totalling Euro -0.33 mill. (6 mths./02: Euro
-0.28 mill.). The pre-tax group result (EBT) amounted to Euro -0.89
mill., compared to Euro -0.17 mill. in the same period last year. In
the first six months of 2003, EBIT (Earnings Before Interest and
Taxes) totalled Euro -1.55 mill. (6 mths./02: Euro -0.89 mill.).
EBITDA (Earnings Before Interest and Taxes + Depreciation and
Amortisation) equalled Euro -0.15 mill. (6 mths./02: Euro 0.31
mill.). In Q2/03, the OnVista Group recorded an after-tax result of
Euro -0.33 mill. (Q2/02: ‘000 Euro 18) and a pre-tax result of Euro
-0.66 mill. (Q2/02: Euro 0.11 mill.). EBIT amounted to Euro -0.97
mill. (Q2/02: Euro -0.29 mill.). EBITDA totalled Euro -0.21 mill.
(Q2/02: Euro 0.31 mill.).

The stagnation in group sales and the negative group performance are
due to the ongoing difficult demand situation in the Technologies
business segment. In contrast, sales in the company’s second business
segment, Media, increased distinctly. OnVista Media increased its
total revenues in the first six months of 2003 by 19% to Euro 2.01
mill. (6 mths./02: Euro 1.69 mill.). The pre-tax result in the amount
of Euro 0.35 mill. advanced markedly and exceeded the figures for the
same period last year by 125% (6 mths./02: Euro 0.16 mill.). In the
first six months of 2003, OnVista Technologies generated total
revenues of Euro 4.11 mill. (6 mths./02: Euro 4.46 mill.). This
represents a fall of 7.7%. As a result of the sluggish revenues, the
business segment recorded a pre-tax result of Euro -0.83 mill. (6
mths./02: Euro -0.24 mill.).

The consolidated cash flow was again positive and improved from Euro
-0.01 mill. in 6 mths./02 to Euro 1.16 mill. in the period under
review. The cash flow from operating activities amounted to Euro
-0.17 mill. (6 mths./02: Euro 0.10 mill.). As at 30 June 2003, cash
and cash equivalent positions of the OnVista Group totalled Euro
26.72 mill., compared to Euro 27.46 mill. as at 31 December 2002 (-
1.9%). The cash value per share stood at Euro 3.99 (31 Dec. 2002:
Euro 4.10).

The Executive Board reaffirmed its annual projections for 2003. The
pre-tax group result under US GAAP will be markedly positive. OnVista
Media will increase its revenues (2002: Euro 3.51 mill.) in the
region of upper single digit percent and will be profitable. The
Executive Board does not anticipate any appreciable burden on
OnVista’s performance from its 31.5% investment in IS.Teledata AG -
the company arising from the merger between OnVista Technologies and
IS Innovative Software. The extraordinary income from the release of
hidden reserves in connection with the merger, which does not impact
the company’s liquidity, will lead to an increase in performance.

Due to the imminent merger of OnVista Technologies GmbH and IS
Innovative Software AG, the account of the first half of the year is
not very meaningful in respect of future developments. OnVista Group
has two strong mainstays, which from 2004 will both sustain to be
profitable: the 100% subsidiary OnVista Media GmbH and the 31.5%
investment in the strengthened IS.Teledata AG, which, thanks to its
leading position in the market and synergy effects, will make a
positive contribution to OnVista’s performance latest from 2004.
Additionally there are the high cash holdings, which yield interest
income and in future can be used to exploit strategic opportunities.

All figures group accounts under US GAAP; detailed press release:
www.onvista-ag.de, under Press’; full Q2/2003 report:
www.onvista-ag.de, under 'Investor Relations'

Further inquiry note:
IR contact: Stefan Bohlmann, Tel.+49-2203/9146-220, ir@onvista.de;
Press contact: Anja Seipp, Tel.-306, presse@onvista.de
Tel: +49(0)2203 9146-0
FAX: +49(0)2203 180 640
Email: info@onvista.de

end of announcement        euro adhoc 29.08.2003
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Emittent: OnVista AG
          Stollwerckstr. 3-5
          DE-51149 Köln
Tel:      +49(0)2203 9146-0
FAX:      +49(0)2203 180 640
Email:    info@onvista.de
WWW:      http://www.onvista-ag.de
ISIN:     DE0005461602
WKN:      546160

Indizes: CDAX, Prime All Share, Prime Standard, Technologie All
Share
Börsen: regulated dealing Frankfurter Wertpapierbörse; free trade
Niedersächsische Börse zu Hannover, Berliner Wertpapierbörse,
Bayerische Börse, Hamburger Wertpapierbörse, Bremer Wertpapierbörse
(BWB), Börse Düsseldorf, Baden-Württembergische Wertpapierbörse
Branche: Computing & Information Technology
Sprache: Englisch

OTS0008    2003-08-29/07:58

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