Active ISP heeft vandaag de resultaten over het tweede kwartaal bekend gemaakt. Active ISP heeft dit kwartaal een positief operationeel resultaat behaald van € 0.56 miljoen, meer dan een verdubbeling ten opzichte van het eerste kwartaal.
Bijgaand het persbericht met de cijfers. Active ISP’s CEO Eric Tolsma is beschikbaar om eventuele vragen naar aanleiding van het persbericht telefonisch te beantwoorden. Je kunt daarvoor contact met ons opnemen of direct met Active ISP op +47 21933000.
Op aanvraag kan ik een .pdf file van het persbericht sturen.
Met vriendelijke groeten,
Cora
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Cora van Muiswinkel
Account Manager
Applied Communications
Mobile: +31 6 53138011
email: cora@appliedcom.com
www.appliedcom.com
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Active ISP continues on track
Q2 2003 Highlights for the Active ISP group
Oslo, August 27 2003
Active ISP remained on track with its progress to sustained profitability. The demand for Active ISP’s services increased compared to the first quarter with recognised revenue up by 6%. The company again generated a positive operational result (EBITDA) of € 0.56 mill, more than doubling the result of the first quarter. Net earnings* were € 1.3 mill for the quarter, but this was due to positive exchange rate variations between the Euro and the Norwegian Krone.
In June, Active ISP acquired Virtual Internet in the UK, a leading provider of high end Internet Hosting Solutions. VI increases Active ISP’s presence in the UK and continental Europe, and brings new products and services to the group. Integration of VI is well under way. (In this report VI is excluded from the results of Active ISP to enable clear comparison of Active ISP’s numbers). Due mainly to the cash component in the VI acquisition and associated investments and capital expenses in Active ISP, total cash and bank was reduced during the quarter by € 1.1 mill to € 8.4 mill.
Eric Tolsma, CEO: “This was an exciting second quarter with a lot of activity. Every country in our group contributed to the results and we are pleased with the addition of Virtual Internet and the integration we have achieved. We have used the summer months to prepare a rollout of VI’s products across Europe which should show results in the coming quarters”.
Financial highlights of the second quarter
• Recognised revenues of € 5.2 mill, an increase of 6% or € 0.3 mill over Q1 2003 of € 4.9 mill
• Operating profit of € 0.56 mill, compared to Q1 2003 profit of € 0.24 mill
• Net earnings* of € 1.3 mill compared to net earnings of € 2.1 mill in Q1 2003
• Cash and Bank was € 8.4 mill as of 30 June 2003 compared to € 9.3 mill at the end of Q1 2003
Key milestones in the second quarter
Active ISP increased its revenue through the acquisition of Virtual Internet in the UK. During the second quarter, Virtual Internet won significant contracts with the BBC and Cypherware because of their strong offering and solid background as part of the Active ISP group.
In Sweden the liberalisation of the domain market, brought Carambole more than 7500 new customers. Platforms of Ladot in the Netherlands were consolidated in the Norwegian datacenter and customers were moved to the central customer database. Ladot also won a significant OEM contract from Cyberroute in Iran for webhosting and E-mail. As more and more companies are looking to outsource their webhosting services, Active ISP is well positioned to capture this business opportunity.
Active ISP Norway celebrated its 5 year anniversary and special promotions on that day won us 2.400 new customer orders.
*Note: Because Active ISP ASA has historically a significant amount of loans denominated in Euro’s outstanding to its foreign subsidiairies, currency differences between the Norwegian Krone and the Euro lead to large financial technical effects in the P&L. These effects should not be evaluated as realized profit from operations.
P&L Q2 2003 vs trailing 5 quarters (in EUR mill)
Q2-03 Q1- 03 Q4- 02 Q3-02 Q2-02 Q1-02
Net Sales 5.2 4.9 5.0 5.5 5.4 5.2
Direct Costs (1.2) (1.3) (1.9) (1.5) (0.9) (1.3)
Gross profit 4.0 3.6 3.1 4.0 4.5 3.9
Gross margin 77% 74% 62% 73% 84% 75%
Operating Costs (3.4) (3.4) (5.7) (3.9) (4.3) (6.3)
EBITDA 0.56 0.2 (2.6) 0.1 0.2 (2.4)
Depreciation (0.8) (0.8) (3.9) (1.0) (1.1) (1.0)
EBIT (0.2) (0.5) (6.5) (0.9) (0.9) (3.4)
Restructuring - - - - (1.8) -
Financial items, net - 0.2 - 0.3 0.3 0.3
FX-rate change 1.6 2.4 (3.8) - - -
Net Earnings 1.3 2.1 (10.3) (0.6) (2.4) (3.1)
Balance Sheet Q2 2003 vs Q1 2003 (in EUR million)
Q2- 03 Q1- 03
Assets
Total Fixed Assets 5.4 5.4
Cash and Bank 8.4 22.9*
Other current assets 6.6 6.3
Total Current Assets 15.0 29.2
Total Assets 20.4 34.6
Liabilities
Current Liabilities 14.9** 28.6*
Long term Liabilities 1.5 1.9
Total Group Equity 4.0 4.1
Total Liabilities 20.4 34.6
*Note: Current Liabilities and Cash and Bank both include € 13.6 mill because of the planned capital reduction.
**Note: Current Liabilities include deferred revenue from previous periods .
About Active ISP
Active ISP is a leading pan-European provider of Internet-related services with over 200.000 customers. We offer domain name, web space, e-commerce and database services, plus more advanced solutions like cluster and dedicated servers to European business customers.
Active ISP ASA was founded in May 1998 and is headquartered in Oslo, Norway with local country operations in Sweden, the UK and The Netherlands as well as representation in other European markets. Active ISP puts special focus on the development of standardised solutions with a high degree of user-friendliness and scalability. Through Active ISP’s products and services, our customers reduce their Internet related costs and increase the quality, reliability and possibilities of their business.
Forward Looking Statements
The statements contained in this release that are not historical facts may be deemed to contain forward-looking statements and results may differ from those anticipated as a result of certain risks and uncertainties.
For more information about Active ISP ASA: http://www.activeisp.com
Or contact:
Active ISP ASA, Eric Tolsma, CEO
Phone +47 21 93 30 00, e-mail: eric.tolsma@activeisp.com