Contact
QR code for the current URL

Story Box-ID: 508450

3U HOLDING AG Frauenbergstraße 31-33 35039 Marburg, Germany http://www.3u.net
Contact Mr Peter Alex +49 6421 9991200
Company logo of 3U HOLDING AG

3U HOLDING AG: Quarterly report Q1/2012

(PresseBox) (Marburg, )
.
- Sales increase significantly
- Lower margins and amending laws burdening business
- Annual General Meeting on May 31, 2012

3U HOLDING AG (ISIN DE0005167902) today published its quarterly report for the first quarter of 2012.

Group sales increased in the first three months of fiscal 2012 compared to the corresponding period last year by EUR 4.15 million to EUR 23.2 million, although sales from discontinued operations Broadband/IP in the first quarter of 2011 accounted for EUR 8.52 million. The segment Telephony, where wholesale sales could be increased very significantly is mainly responsible for this positive sales development. However, this resulted in relatively low-margin sales and the delay of the amended Telecommunications Act caused customer uncertainty and led to significantly lower sales margins in the segment Telephony with corresponding effects on the consolidated earnings.

After a majority in the Bundesrat rejected the EEG amendment on May 11, 2012 the mediation committee was called on. This stalemate prolongs the time period of uncertainty in the market concerning solar subsidies and prevents a reliable basis for planning, leading to various customer groups to exercise restraint in purchases and contracts. In addition, the solar park under construction in Adelebsen ties up significant Group resources without income being generated in the development phase. Proceeds from the feed-in tariff and rent are expected starting in the third quarter of 2012.

EBITDA was at EUR -0.89 million and well below the EBITDA of the first three months of the previous year (EUR 2.55 million). In addition to lower earnings contribution from the segment Telephony increased losses resulting from the development and expansion phase of the segments Renewable Energy and Services also contributed to the decline. Accordingly, earnings with EUR -0.78 million were approximately EUR 1.5 million lower than in the same quarter last year (EUR 0.73 million).

The balance sheet total increased significantly to EUR 85.33 million (March 31, 2012) compared with December 31, 2011 (EUR 75.48 million). The strong sales growth in the segment Telephony and the associated higher accounts receivable are mainly responsible for the increase in total assets. The increase in long-term assets is due to the investment in the solar park as well as in land and buildings and led to a corresponding reduction in liquid funds.

This year's Annual General Meeting will be held in Marburg on May 31, 2012. After the encouraging results of fiscal year 2011, the Management Board and the Supervisory Board proposed a resolution to distribute a dividend for fiscal year 2011 of EUR 0.03 per share.

The Quarterly Report QI/2012 can be downloaded from the website of 3U HOLDING AG at: www.3u.net.

Website Promotion

Website Promotion
The publisher indicated in each case (see company info by clicking on image/title or company info in the right-hand column) is solely responsible for the stories above, the event or job offer shown and for the image and audio material displayed. As a rule, the publisher is also the author of the texts and the attached image, audio and information material. The use of information published here is generally free of charge for personal information and editorial processing. Please clarify any copyright issues with the stated publisher before further use. In case of publication, please send a specimen copy to service@pressebox.de.
Important note:

Systematic data storage as well as the use of even parts of this database are only permitted with the written consent of unn | UNITED NEWS NETWORK GmbH.

unn | UNITED NEWS NETWORK GmbH 2002–2024, All rights reserved

The publisher indicated in each case (see company info by clicking on image/title or company info in the right-hand column) is solely responsible for the stories above, the event or job offer shown and for the image and audio material displayed. As a rule, the publisher is also the author of the texts and the attached image, audio and information material. The use of information published here is generally free of charge for personal information and editorial processing. Please clarify any copyright issues with the stated publisher before further use. In case of publication, please send a specimen copy to service@pressebox.de.