EANS-News: SinnerSchrader AG / SinnerSchrader grows by 24 per cent in the first half-year of 2011/2012 /margin development below plan / predicted profit for the 2011/2012 financial year compromised

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quarterly report

Hamburg, 12 April 2012 (euro adhoc) - In its second business quarter
in 2011/2012 (1 December 2011 to 29 February 2012), SinnerSchrader
once again exceeded the 9 million euro mark with net revenue at
9.1 million euros, surpassing the revenue for the same quarter of the
previous year by 27.2 per cent. After a first-quarter growth rate of
more than 20 per cent had already been achieved, the total rise in
revenue in the first half-year of 2011/2012 was 23.9 per cent over
that of the same period of the previous year. This corresponds to
growth of about 3.5 million euros on a half-year value of just over
18.4 million euros. The preceding second half-year of 2010/2011 was
thus exceeded by 14.2 per cent.

Double-digit growth was achieved in all three segments - Interactive
Marketing, Interactive Media and Interactive Commerce - in the first
half-year of the report. On the one hand, this is an indication of
the sustained strong demand for services in the areas of e-commerce,
digital marketing and online media - demand which was used to extend
the customer base. On the other hand, it is also a result of the
acquisitions in the Interactive Marketing and Interactive Commerce
segments carried out at the end of the first half-year and during the
course of the second half-year of 2010/2011.

While revenue was thus well above plan, SinnerSchrader remained below
plan in the development of margins and profits for the first
half-year of 2011/2012. EBITA in the second quarter amounted to
0.4 million euros, which corresponds to a margin of only 4.6 per cent
on net revenue. EBITA for the half-year reached just over 1.1 million
euros, or 5.9 per cent of net revenue. A determining factor for the
weakness in operating results is a considerable overrunning of costs
in a fixed-price project, which continued throughout the half-year
period and resulted in operative losses in the mid six-digit range.
The project was successfully delivered to one of SinnerSchrader´s
biggest customers at the beginning of April 2012, so no further
negative effects on earnings are expected. Marketing costs also rose
considerably in the half-year of the report, due on the one hand to a
large number of customers with high potential, who invited
SinnerSchrader to pitches in the core business, and on the other hand
to an increase in marketing efforts in the new business areas.

Net income for the first half-year of 2011/2012 amounted to
0.4 million euros, or just over 4 per cent per share.

While it is highly likely that the revenue forecast of 35.5 million
euros for the 2011/2012 financial year will be clearly exceeded, the
accrued shortfall in income is now jeopardising the achievement of
projected profits. EBITA of 3.25 million euros and net income of
1.7 million euros remain possible. However, the realisation of this
target depends strongly on the success of individual existing
business initiatives. Current information nevertheless indicates that
SinnerSchrader will definitely exceed the results of the previous
year - EBITA of 2.6 million euros and net income of 1.3 million
euros.

Fortunately, the funds tied up in working capital were significantly
reduced again as of 29 February 2012. The operating cash flow
amounted to 3.0 million euros in the second quarter of 2011/2012 and
to 1.5 million euros in the first half-year. The strong operating
cash flow in the quarter of the report meant that the dividend
payment of 1.1 million euros, which also took place in this quarter,
was more than offset. The liquidity reserve increased by just more
than 1.4 million euros over the reserve at the end of the previous
quarter, to reach 5.3 million euros.

On the balance sheet date of 29 February 2012, the shareholders´
equity rate amounted to 59.2 per cent, falling just short of the
59.4 per cent rate on 31 August 2011. At the end of the quarter of
the report, there were 431 employees in the SinnerSchrader Group,
i.e. 31 employees more than on 31 August 2011.

The complete quarterly report can be downloaded from the Internet at
www.sinnerschrader.ag/s2ir/de/Finanzberichte.html as of 3 p.m. today.

About SinnerSchrader

SinnerSchrader is one of the leading digital agencies in Europe.
SinnerSchrader develops interactive strategies, platforms, and
applications which create radical relationships between consumers and
brands. The SinnerSchrader Group has more than 400 employees in
Hamburg, Frankfurt am Main, Berlin, and Hanover who work for
customers such as Allianz, TUI, Tchibo, simyo, REWE, comdirect bank,
PPR Group, OTTO, and Steigenberger. SinnerSchrader was founded in
1996 and has been quoted on the stock exchange since 1999.

Contact for press and public relations

Benjamin Nickel
Head of Corporate Communications
presse@sinnerschrader.com

Contact for shareholder information

Thomas Dyckhoff
CFO
ir@sinnerschrader.com

SinnerSchrader Aktiengesellschaft
Völckersstr. 38
D-22765 Hamburg
T. +49. 40. 39 88 55-0

Further inquiry note:
Thomas Dyckhoff
CFO
Telefon: +49(0)40 398855-113
E-Mail: t.dyckhoff@sinnerschrader.de

end of announcement euro adhoc
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company: SinnerSchrader AG
Völckersstraße 38
D-22765 Hamburg
phone: +49(0)40-398855-0
FAX: +49(0)40-398855-55
mail: info@sinnerschrader.de
WWW: http://www.sinner-schrader.de
sector: Software
ISIN: DE0005141907
indexes: CDAX, Prime All Share, Technology All Share
stockmarkets: free trade: Berlin, München, Hamburg, Düsseldorf, Stuttgart,
regulated dealing/prime standard: Frankfurt
language: English