Ad-hoc | 21 October 2009 10:37
Intershop Communications AG / Miscellaneous
21.10.2009
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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- Exact volume of impairment still to be ascertained
- Negative Q3 result expected
Jena, October 20, 2009 - Intershop Communications AG, a provider of
integrated e-commerce solutions, will be making an impairment of several
hundred thousand euros on existing receivables from its customer Quelle
Deutschland. This move is due to the planned discontinuation of Quelle
Deutschland's operations announced yesterday evening in the wake of the
insolvency. The exact amount of the impairment is still being assessed.
There is however certainty that a negative result will be posted for Q3
2009.
Intershop is the e-commerce service provider for the mail order company
Quelle as well as a number of the company's specialized mail order
retailers and foreign subsidiaries. These are currently not affected by the
liquidation, according to the insolvency administrator of the Quelle parent
company Arcandor.
The impairment as a result of Quelle Deutschland ceasing operations, will
also have an impact on Intershop's full year guidance. The Board of
Management is anticipating that the expected increase in revenues of at
least 7% will not be achieved, as the potential insolvency of Quelle will
result in lost revenues of several hundred thousand euros. Despite this
decline in revenues, the Board of Management is expecting business to be
positive in Q4 given the encouraging development of other customers.
More detailed revenues and earnings forecasts for the financial year 2009
will be announced as soon as the exact amount of the impairment has been
ascertained.
Investor Relations:
Stephan Leschke
T: +49-3641-50-1371
F: +49-3641-50-1309
ir@intershop.com
21.10.2009 Financial News transmitted by DGAP
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Language: English
Company: Intershop Communications AG
Intershop Tower
07740 Jena
Deutschland
Phone: +49 (0)3641-50-0
Fax: +49 (0)3641-50-1002
E-mail: ir@intershop.de
Internet: www.intershop.de
ISIN: DE000A0EPUH1, DE000A0C4ZE3
WKN: A0EPUH, A0C4ZE
Indices: CDAX, PRIMEALL, TECHALLSHARE
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, München, Düsseldorf, Stuttgart, Hamburg
End of News DGAP News-Service
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