Wirecard AG / Quarter Results
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Grasbrunn near Munich, November 18, 2008 – Both in the third quarter and in
the first nine months of the current fiscal year, Wirecard AG again
succeeded in recording substantial growth, gaining additional market share
in the process.
In the first nine months of 2008, sales revenues were up by 50.4 percent
year-on-year, from EUR 93.8 million to EUR 141.1 million. Earnings before
interest and taxes (EBIT) amounted to EUR 35.2 million, equivalent to an
increase by 55.8 percent compared with the previous-year period
(EUR 22.6 million). The EBIT margin in the first nine months of 2008
increased from 24 to 25 percent year-on-year.
In the third quarter of 2008, consolidated sales revenues in the Group rose
from EUR 37.3 million in the same quarter a year earlier to
EUR 52.8 million. Group earnings before interest and taxes (EBIT) in the
third quarter of 2008 increased to EUR 13.0 million, from EUR 9.3 million
in the previous-year quarter. The operating result for the third quarter
includes approx. EUR 1.0 million in extraordinary expenditure on additional
litigation and consultancy costs and for a special expert opinion.
Sustained growth in the core segments
The increasing pressure on companies to cut costs and optimize efficiency,
particularly during economically challenging times, made a positive
contribution to the general trend in the direction of migrating business
processes from the offline to the online world. In parallel with a
substantial increase in the trading volume in our customer portfolio,
a large number of new customers were acquired in the third quarter. Our
customer base meanwhile comprises more than 10,000 enterprises from Europe
and Asia.
In the first nine months of 2008, an increase in sales revenues by
54.4 percent was recorded in the core segment of 'Payment Processing & Risk
Management', to reach EUR 131.2 million (9M/2007: EUR 85.0 million). The
level of EBIT generated in this segment by risk management services and the
processing of online payment transactions after the first nine months of
fiscal 2008 amounted to EUR 24.6 million (9M/2007: EUR 17.7 million),
equivalent to an increase of 39.0 percent.
The share of the 'Acquiring & Issuing' segment and, therefore, of Group
sales revenues generated by Wirecard Bank AG, was up by 108 percent in the
first nine months of 2008 year-on-year, from EUR 13.7 million to
EUR 28.5 million. Earnings before interest and taxes (EBIT) in the first
nine months of 2008 increased from EUR 4.6 million to EUR 10.5 million.
On the one hand, it was possible to acquire numerous new customers; on the
other, the fast-growing market for online products had a positive impact on
the volume of business with portfolio customers.
'Regardless of the overall economic development, a substantial increase in
electronic trading remains in evidence in all target markets. Accordingly,
we are optimistic both for the fourth quarter of 2008 and the following
year and expect clearly positive business trends to continue in future,
too', said Dr. Markus Braun, CEO of Wirecard AG.
Forecast for 2008 affirmed
In view of the positive business trend in the first nine months of 2008,
the Management Board of Wirecard AG has affirmed its forecast of boosting
EBIT by 45 – 60 percent for fiscal 2008 as a whole. For the 2008 financial
year, therefore, earnings before interest and taxes are expected to range
somewhere between EUR 48 million and EUR 53 million.
The Q3 and 9-month report 2008 is available with immediate effect in
PDF format for download from our website http://ir.wirecard.com under the
heading 'Financial reports'.
Wirecard AG
Iris Stöckl
Bretonischer Ring 4
D-85630 Grasbrunn / Munich
Ph.: +49 (0) 89 4424 0424
Fax: +49 (0) 89 4424 0524
e-mail: iris.stoeckl@wirecard.com
Internet: www.wirecard.com
About Wirecard AG:
Wirecard AG is one of the leading international providers of electronic
payment and risk management solutions. Worldwide, Wirecard supports over
10,000 companies from many and various industry segments in automating
their payment processes and minimizing cases of default. Wirecard Bank AG
provides account and credit card services both for business and private
customers and is a Principal Member of VISA, MasterCard and JCB. The
Internet payment service Wirecard enables consumers to make secure payments
at millions of MasterCard acceptance outlets worldwide. In addition,
registered users can send or receive money orders to each other on a
real-time basis. Wirecard AG is listed on the Frankfurt Securities Exchange
(TecDAX, ISIN DE0007472060, WDI).
www.wirecard.com | www.wirecardbank.de | www.mywirecard.com
18.11.2008 Financial News transmitted by DGAP
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Language: English
Issuer: Wirecard AG
Bretonischer Ring 4
85630 Grasbrunn b. München
Deutschland
Phone: +49 (0)89-4424 0400
Fax: +49 (0)89-4424 0500
E-mail: ir@wirecard.com
Internet: www.wirecard.com
ISIN: DE0007472060
WKN: 747206
Indices: TecDAX, Prime All Share, Technology All Share
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, München, Hamburg, Düsseldorf, Stuttgart
End of News DGAP News-Service
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