3U HOLDING AG: Continuing positive development
Significant earnings increase / New Group structure creates synergies / Subsidiary LambdaNet on the upswing
Substantial resources have been concentrated within the 3U Group and a new organizational structure was established in the reporting period. Today, the 3U Group consists of four divisions and the groupwide Holding. The Telephony and Broadband/IP segments continue to dominate the results of the Group. "We aim to stabilize the revenues in the Telephony segment on the current level. In the Broadband/IP segment we anticipate a growing demand in future, however, in a very competitive market environment and an accompanying tendency of reduced prices", says Board Member Michael Schmidt. "The newly established segments "Services" and especially "Renewable Energies" have very promising growth prospects and are expected to contribute considerably to the Group's results in the following quarters" adds fellow Board Member Michael Göbel.
With the implementation of the package of measures, decided on in the fourth quarter of 2009, a sustainable trend reversal was initiated at LambdaNet. Accordingly, business figures have developed positively during the first halfyear: Net income came in at EUR 0.79 million, while in the previous year a considerable negative half year net result was reported.
The Management Board reaffirms its most recent forecast and still expects the 3U Group to realise external revenues of around EUR 85 m, an EBITDA of around EUR 13 m, and a net income of around EUR 3 m for 2010. For 2011 the Management Board expects revenues to be between EUR 82 m and EUR 90 m, EBITDA between EUR 12 m and EUR 14 m, and a Group result between EUR 3.5 m and EUR 5 m.