Intershop publishes figures for Q1 2024

EQS-News: Intershop Communications AG / Key word(s): Quarter Results
Intershop publishes figures for Q1 2024

24.04.2024 / 07:20 CET/CEST
The issuer is solely responsible for the content of this announcement.

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* Positive start to 2024: EBIT breaks even after three months

* Total revenues grow by 7% to EUR 9.5 million

* Cloud revenues up 32% to EUR 4.9 million

Jena, 24 April 2024 - Intershop Communications AG (ISIN: DE000A254211), a
global provider of B2B commerce solutions for the manufacturing and
wholesaler sectors, increased its revenues by 7% to EUR 9.5 million in the
first three months of the financial year 2024 (previous year: EUR 8.9
million). Revenues from the strategically important cloud business rose by
32% to EUR 4.9 million (previous year: EUR 3.7 million). Cloud revenues
accounted for 52% of total revenues, up ten percentage points on the
previous year's 42%. Incoming cloud orders increased by 79% to EUR 4.8
million (previous year: EUR 2.6 million). Cloud ARR (annual recurring
revenues) rose to EUR 18.0 million as of 31 March 2024 - an increase of 15%
(previous year: EUR 15.7 million). Net New ARR doubled to EUR 0.6 million
(previous year: EUR 0.3 million).

However, service revenues fell short of expectations with a decline of 16%
to EUR 2.7 million (previous year: EUR 3.2 million). The service business in
the first quarter of 2024 was particularly burdened by individual complex
and long-term major projects, while at the same time there were fewer new
projects. As expected, license and maintenance revenues decreased by 3% to
EUR 1.9 million (previous year: EUR 2.0 million) due to the focus on the
cloud business.

Gross profit on revenues amounted to EUR 4.2 million in the reporting period
(previous year: EUR 3.6 million). The gross profit margin increased by four
percentage points to 45%. Operating expenses and income decreased by 6% to
EUR 4.2 million (previous year: EUR 4.5 million). R&D expenses fell by 8% to
EUR 1.7 million (previous year: EUR 1.8 million). Sales and marketing
expenses remained at the prior year level at EUR 1.9 million; this also
applied to general administrative expenses, at EUR 0.8 million. Earnings
before interest, taxes, depreciation, and amortization (EBITDA)
significantly improved in the reporting period to EUR 0.8 million (previous
year: EUR -5 thousand). Earnings before interest and taxes (EBIT) were
slightly positive in the first quarter of 2024 at EUR 6 thousand (previous
year: EUR -0.9 million). Intershop's strict cost management, efficiency
enhancement, and process optimization measures thus began to take effect in
the first quarter of 2024. Earnings after taxes improved to EUR -0.1 million
(previous year: EUR -1.0 million).

Markus Klahn, CEO of Intershop Communications AG: "Despite continued
reluctance to invest as a result of the ongoing uncertain economic
situation, the start of the 2024 financial year was promising for Intershop.
Thanks to significant growth in the cloud business and the cost-cutting
measures initiated, we were able to break even on an EBIT basis. We will
continue to rigorously pursue cost and efficiency measures. Although the new
customer business remains challenging, we are confident that our cloud
strategy, coupled with the integration of AI, will enable us to make
significant operational and strategic progress in 2024 and confirm our
forecast for the full year."

At the interim balance sheet date, equity capital amounted to EUR 11.2
million (31 December 2023: EUR 11.4 million). The equity ratio remained
largely stable at 29% (31 December 2023: 30%). Cash flow from operating
activities declined to EUR -0.2 million in the first three months from EUR
1.5 million in the same period of the previous year due to an increase in
trade receivables. Cash and cash equivalents as of 31 March 2024 amounted to
EUR 8.9 million (31 December 2023: EUR 10.0 million).

For the full year 2024, the Management Board continues to expect a slight
increase in both incoming cloud orders and net new ARR. The company also
projects a moderate increase in revenues and a break-even operating result
(EBIT).

The quarterly statement for the first quarter of 2024 is available at
https://www.intershop.com/financial-reports.

Contact:
Investor Relations
Mercedes Celine Zaremba
T: +49-3641-50-1000
ir@intershop.de


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24.04.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS
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   Language:       English
   Company:        Intershop Communications AG
                   Steinweg 10
                   07743 Jena
                   Germany
   Phone:          +49 (0)3641-50-0
   Fax:            +49 (0)3641-50-1309
   E-mail:         ir@intershop.de
   Internet:       www.intershop.de
   ISIN:           DE000A254211
   WKN:            A25421
   Indices:        CDAX, PRIMEALL, TECHALLSHARE
   Listed:         Regulated Market in Frankfurt (Prime Standard);
                   Regulated Unofficial Market in Berlin, Dusseldorf,
                   Hamburg, Munich, Stuttgart, Tradegate Exchange
   EQS News ID:    1887643

End of News EQS News Service
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1887643 24.04.2024 CET/CEST