Fossil and Biofuel Research Safeguards Sales Markets

Biodiesel and bioethanol are by far the most important alternative sustainable fuels in Germany and the European Union, not only today, but also in the years ahead. In Germany alone, they contributed about 7.7 million t CO2 equivalent towards greenhouse gas reduction in 2017. These biofuels are also by far the most important alternative fuels for attaining national energy and climate protection targets in transport on a global scale. Their ever-increasing importance is reflected in the statutory framework conditions for increasing admixture levels in the USA, Brazil, Argentina, as well as Malaysia and Indonesia. As a basic precondition for market access, this biofuel or different fuel mixtures must fulfil requirements relating to engine systems and emission laws at the same time.

In light of this, comprehensive biofuel system research is essential as a market-associated measure so that anticipated potentially negative interactions of the fuels – not only with each other, but also with engine components – can be evaluated and eliminated.  Approvals for different fuel mixtures determine the international or worldwide market development. While the relevant industry groups are implementing or have to implement the required statutory requirements under emissions law in the European Union, elsewhere political pressure is mounting to anchor technological concepts and biofuels in the market. Their market success is also established in the fact that this can be integrated comparatively easily in existing distribution systems and does not therefore lead to any additional investment costs or subsidies from tax revenues, in contrast to hydrogen technology or e-mobility.

In light of this, sustainable biofuels – optimised with greenhouse gases in mind – not only need to be developed further by systematic accompanying research, but also beyond this as a globally significant admixture component, while also examining synergy effects wherever possible. In view of the highly ambitious target time framework, climate protection measures cannot afford to dispense with existing and viable future options, especially in the transport sector that is continuing to grow globally. Against this background, scientists are presenting select research topics and results in the parallel forum “Biodiesel” of the 16th International Conference”, moderated by Dr Jürgen Krahl, Chairman of the UFOP Expert Commission “Biofuels and Renewable Resources”.

Dr Thomas Garbe, Volkswagen AG, explains in his presentation the significance of biodiesel as part of the solution for future mixed fuels. The focus here is on oxymethylene ether (OME), a renewable fuel that could play an increasing role in the renewable fuel mix long-term.Martin Kortschak from the Technology Transfer Center for Automotive Technology of Coburg University of Applied Sciences (TAC) discusses the influence of biofuels on emissions in conjunction with the so-called RDE test (Real Driving Emission) as an effective tool for fuel development.Dr Lukas Möltner, MCI Management Center Innsbruck, explains the consequences resulting from the ageing of biodiesel on oxidation mechanisms and engine usability and in the required countermeasures.The significance that the ageing process can have on various petrol and diesel fuels for black in-hybrid routes is outlined by Anja Singer from the TAC Coburg in her presentation.

In view of the international importance of biodiesel and bioethanol, it must be stressed that these research results are not only important for the German and European market, but are also of global interest because the engine requirements due to vehicle changes are also set to become stricter in key production and application countries in North and South America as well as in Asia. The Conference is therefore oriented towards all international research and industry groups interested in marketing as well as research and development in the field of biofuel production and application. The Conference offers an ideal platform for bringing science and industry together in this context.

Originalmeldung direkt auf PresseBox lesen
Mehr von Firma PresseBox

Rheinmetall to supply Bundeswehr with tank ammunition

The Bundeswehr has awarded Rheinmetall a major contract for tank ammunition. Encompassing 13,000 rounds of 120mm x 570 DM88 ammunition, the order is worth €21.4 million, including value added tax. Delivery begins in November 2018, and should be complete by the end of the year.

The DM88 is an advanced practice round made specifically for the Leopard 2 main battle tank. Ballistically, it is identical to the service ammunition developed and supplied by Rheinmetall, and meets the Bundeswehr’s full range of specifications with regard to precision and handling safety.

For over 125 years, the name Rheinmetall has been synonymous with first-class weapon and ammunition systems. Today the company is the global leader in smoothbore tank main armament technology.

Originalmeldung direkt auf PresseBox lesen
Mehr von Firma PresseBox

Transaction volume in 9M/18 increased by 44.2 percent

Wirecard AG had an extremely successful third quarter and first nine months of the current 2018 fiscal year.

Transaction volumes processed through the Wirecard platform grew in the first nine months of 2018 by 44.2 percent to EUR 90.2 billion (9M/2017: EUR 62.5 billion).

In this period, consolidated revenues increased by 41.4 percent to EUR 1.4 billion (9M/2017: EUR 1.0 billion). In the first nine months, earnings before interest, tax, depreciation and amortisation (EBITDA) increased by 38.0 percent to EUR 395.4 million (9M/2017: EUR 286.6 million).

In the third quarter of 2018, consolidated revenues for the Group increased by 34.8 percent to EUR 547.1 million (Q3/2017: EUR 405.9 million). EBITDA increased by 36.3 percent to EUR 150.1 million (Q3/2017: EUR 110.1 million).

Earnings after tax increased in the nine month period 2018 by 48.5 percent to EUR 250.2 million (9M/2017: EUR 168.5 million).

The cash flow from operating activities (adjusted) amounted to EUR 310.1 million. Free cash flow increased by 42.0 percent to EUR 257.3 million (9M/2017: EUR 181.2 million).

Wirecard CEO Dr. Markus Braun commented: "We expect strong business growth in both the fourth quarter of 2018 and also the coming 2019 fiscal year."

In view of the strong business performance, the Management Board has increased its EBITDA forecast for the 2018 fiscal year to between EUR 550 million and EUR 570 million (previously EUR 530 million to EUR 560 million).

The Q3/9M 2018 Interim Report as of 30 September 2018 is available on the company’s website at: ir.wirecard.com/financialreports

Originalmeldung direkt auf PresseBox lesen
Mehr von Firma PresseBox

Osisko Declares 17th Consecutive Quarterly Dividend

Osisko Gold Royalties Ltd ("Osisko" or the "Company") (TSX:OR) (NYSE:OR) is pleased to announce a fourth quarter 2018 dividend of $0.05 per common share. The dividend will be paid on January 15, 2019 to shareholders of record as of the close of business on December 31, 2018.

For shareholders residing in the United States, the U.S. dollar equivalent will be determined based on the daily rate published by the Bank of Canada on December 31, 2018. This dividend is an "eligible dividend" as defined in the Income Tax Act (Canada).

Sean Roosen, Chair and Chief Executive Officer of Osisko, noted: “With the declaration of the 17th consecutive quarterly dividend, we are pleased to return a significant portion of our operating cash flow to our owners. With the payment of this dividend, we will have distributed approximatively C$78.5 million since 2014.”

The Company also wishes to remind its shareholders that it has implemented a dividend reinvestment plan (the “Plan”). Shareholders who are residents of Canada and the United States may elect to participate in the Plan in connection with the dividend to be paid on January 15, 2019 to shareholders on record as of December 31, 2018. If a shareholder elects to participate in the Plan, the Company will issue to the shareholder, in lieu of a cash dividend, common shares from treasury at a 3% discount to the weighted average price of the common shares during the five (5) trading days immediately preceding the dividend payment date. Participation in the Plan is optional and will not affect a shareholders’ cash dividends if the shareholder elects not to participate in the Plan. Quarterly dividends are only payable as and when declared by Osisko’s Board of Directors.

A complete copy of the Plan and the enrolment form are available on Osisko’s website at http://osiskogr.com/en/dividends/drip/. Shareholders should carefully read the complete text of the Plan before making any decisions regarding their participation in the Plan.

Non-registered beneficial shareholders who wish to participate in the Plan should contact their financial advisor, broker, investment dealer, bank or other financial institution that holds their common shares to inquire about the applicable enrolment deadline and to request enrolment in the Plan. For more information on how to enroll or any other inquiries, contact the Agent at 1-800-387-0825 (toll-free in Canada) or inquiries@canstockta.com.

Participation in the Plan does not relieve shareholders of any liability for taxes that may be payable in respect of dividends that are reinvested in common shares under the Plan. Shareholders should consult their tax advisors concerning the tax implications of their participation in the Plan having regard to their particular circumstances.

This press release is not an offer or a solicitation of an offer of securities.

About Osisko Gold Royalties Ltd

Osisko Gold Royalties Ltd is an intermediate precious metal royalty company that holds a North American focused portfolio of over 130 royalties, streams and precious metal offtakes. Osisko’s portfolio is anchored by its 5% NSR royalty on the Canadian Malartic Mine, which is the largest gold mine in Canada. Osisko also owns a portfolio of publicly held resource companies, including a 32.4% interest in Barkerville Gold Mines Ltd., a 17.9% interest in Osisko Mining Inc., a 15.5% interest in Victoria Gold Corp., a 12.6% interest in Falco Resources Ltd and an 11.4% interest in Osisko Metals Incorporated.

Osisko is a corporation incorporated under the laws of the Province of Québec, with its head office located at 1100 avenue des Canadiens-de-Montréal, Suite 300, Montréal, Québec, H3B 2S2.

Forward-looking statements

Certain statements contained in this press release may be deemed "forward-looking statements" within the meaning of applicable Canadian and U.S. securities laws. These forward-looking statements, by their nature, require the Company to make certain assumptions and necessarily involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these forward-looking statements. Forward-looking statements are not guarantees of performance. In this news release, these forward-looking statements may involve, but are not limited to, comments with respect to the directors and officers of the Company, information pertaining to the fact that all conditions for payment of the dividend will be met and that such dividend will continue to be an “eligible dividend” as defined in the Income Tax Act (Canada). Words such as "may", "will", "would", "could", "expect", "believe", "plan", "anticipate", "intend", "estimate", "continue", or the negative or comparable terminology, as well as terms usually used in the future and the conditional, are intended to identify forward-looking statements. Information contained in forward-looking statements is based upon certain material assumptions that were applied in drawing a conclusion or making a forecast or projection, including that the financial situation of the Company will remain favourable. The Company considers its assumptions to be reasonable based on information currently available, but cautions the reader that its assumptions regarding future events, many of which are beyond the control of the Company, may ultimately prove to be incorrect since they are subject to risks and uncertainties that affect the Company and its business.

For additional information with respect to these and other factors and assumptions underlying the forward-looking statements made in this press release, see the section entitled “Risk Factors” in the most recent Annual Information Form of Osisko which is filed with the Canadian securities commissions and available electronically under Osisko’s issuer profile on SEDAR at www.sedar.com and with the U.S. Securities and Exchange Commission and available electronically under Osisko’s issuer profile on EDGAR at www.sec.gov. The forward-looking information set forth herein reflects Osisko’s expectations as at the date of this press release and is subject to change after such date. Osisko disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than as required by law.

Originalmeldung direkt auf PresseBox lesen
Mehr von Firma PresseBox

Copper Mountain Mining Announces Q3 2018 Financial Results

Copper Mountain Mining Corporation (TSX: CMMC | ASX:C6C) (the “Company” or “Copper Mountain” – http://www.commodity-tv.net/c/search_adv/?v=298551 ) announces third quarter 2018 financial results.  All currency is in Canadian dollars, unless otherwise stated.  All results are reported on a 100% basis.  The Company’s Financial Statements and Management Discussion & Analysis (“MD&A”) are available at  www.CuMtn.com  and  www.sedar.com

Third quarter 2018 highlights:

  • Production at the Copper Mountain Mine was 22.0 million pounds of copper equivalent in the third quarter of 2018, which includes 18.3 million pounds of copper, 7,500 ounces of gold and 64,900 ounces of silver and in line with expectations.
  • Company on track to achieve 2018 annual production guidance of 80 million pounds of copper (+/-5%) with the expectation of a strong fourth quarter.
  • Revenue for the third quarter 2018 was $60.7 million, from the sale of 17.6 million pounds of copper, 6,300 ounces of gold, and 62,500 ounces of silver, net of pricing adjustments.
  • Increased mineral reserves at the Copper Mountain Mine to 210 million tonnes0F[1] grading 0.26% copper, 0.08 grams per tonne gold, and 0.89 grams per tonne silver for 1.2 billion pounds of copper, 504,000 ounces of gold and 6.0 million ounces of silver.
  • Positive feasibility study results for the Eva Copper Project demonstrated an after-NPV of US$256 million at an 8% discount rate and total copper production of 959 million pounds over a 12-year mine life.
  • Robust preliminary economic assessment (PEA) results for New Ingerbelle demonstrated an after-tax Net Present Value (NPV) of US$394 million at an 8% discount rate and total copper production of 768 million pounds over a 12-year mine life.

Gil Clausen, President and CEO of Copper Mountain, remarked “This quarter was an exceptionally busy quarter for Copper Mountain as we delivered on all of the project milestones as promised.  We completed the phase 2 drilling program at New Ingerbelle and subsequently announced an updated mineral resource along with a base case mine development and production PEA which demonstrated strong economics.  We also announced solid feasibility study results for our Eva Copper Project in Australia, which exhibited robust economics and is expected to produce over 120 million pounds of copper annually in the early years of its mine life. “

Mr. Clausen added, “We will continue to focus on ensuring Copper Mountain produces predictably and reliably as it has year to date.  Production in the fourth quarter is forecast to be strong as we get back to mining higher grade ore, reduce stripping and we do not anticipate any of the non-recurring items that impacted the third quarter.”

The Company recognized revenue of $60.7 million in Q3 2018 on the sale of copper concentrates net of treatment charges. Third quarter revenue was impacted by a shipping delay at the Port of Vancouver over the quarter-end which resulted in 1.1 million pounds of copper, 440 ounces of gold, and 4,000 ounces of silver not being recorded in Q3 2018. This revenue will be recognized in Q4 2018.  The decrease in revenue in the third quarter was also the result of lower realized copper prices, lower quantities of metal sold and negative provisional pricing adjustments. Pricing adjustments totaled negative $2.4 million and reflects a weakening of copper prices during the quarter and resulted in downward adjustments for shipments not yet finalized at the period end. This decrease was partly offset by a higher gold grade and recovery during the quarter.  

At the end of Q3 2018, the Company recorded an increase in accounts receivable primarily attributable to a shipping delay at the Port of Vancouver over the quarter-end for which the Company did not receive payment of $19.2 million from the September shipment until October 3, 2018. This cash, if received in the quarter, would have increased the quarter-end cash balance to $60.9 million.

The Company recorded higher Q3 2018 operating costs as a result of increased cost of sales of $70.3 million. The increase is largely due to a $5.3 million inventory adjustment to the low-grade stockpile. This adjustment was necessary to record the low-grade stockpile at net realizable value due to the decline in copper price. Additionally, Q3 2018 operating costs reflect increases mainly associated with timing of planned major mine maintenance, fuel unit costs, and other consumable unit costs as compared to Q3 2017.    

Exploration expenditures for the quarter were $2.9 Mio, which includes both exploration in Australia and British Columbia. 

The Copper Mountain Mine produced 22.0 million pounds of copper equivalent which is comprised of 18.3 million pounds of copper, 7,500 ounces of gold and 64,900 ounces of silver during Q3 2018. Lower copper production in Q3 2018 was as forecast and within expectations of the 2018 production plan.  Gold production was higher quarter-over-quarter and year-over-year on higher gold grades and improved recoveries after installation of a flash flotation circuit in the concentrator.  Copper grades and therefore copper production is expected to improve in the fourth quarter of 2018.

Site cash costs for Q3 2018 were US$1.78 per pound of copper produced, net of precious metal credits, and total cash costs were US$2.25 per pound sold, net of precious metal credits. Site cash costs and total cash costs were higher primarily due to lower copper production and sales as a result of lower head grades in the quarter, as planned, the $5.3 million inventory adjustment to the low-grade stockpile, and the shipping delay at the Port of Vancouver which decreased metal sales by 1.1 million pounds of copper, 440 ounces of gold, and 4,000 ounces of silver.  As production and sales are expected to be higher in the fourth quarter of 2018, site cash costs and total cash costs are expected to decrease.

The Company is on track to meet full year guidance for copper production as year-to-date production has been in-line with the plan and production is expected to be strong in the fourth quarter. The Company maintains 2018 annual production guidance of 80 million pounds of copper (+/ 5%).   

Q3 2018 Financial and Operating Results Conference Call and Webcast

The Company will hold a conference call on Wednesday, October 31, 2018 at 7:30 am (Pacific Standard Time) for management to discuss the Q3 2018 financial and operating results.

Live Dial-in information
Toronto and international: 647-427-7450
North America (toll-free): 1-888-231-8191

To participate in the webcast live via computer visit the Company’s website at www.cumtn.com or https://event.on24.com/wcc/r/1833337/29A6E0EF562FD710672ED8952756F33F

Replay information
Toronto and international: 416-849-0833
Passcode: 9499185
North America (toll-free): 1-855-859-2056
Passcode: 9499185

The conference call replay will be available from 10:30 am (PST) on October 31, 2018 until 20:59 pm PST on November 7, 2018. An archive of the audio webcast will also be available on the company’s website at www.cumtn.com.

About Copper Mountain Mining Corporation

Copper Mountain’s flagship asset is the 75% owned Copper Mountain mine located in southern British Columbia near the town of Princeton. The Copper Mountain mine produces about 100 million pounds of copper equivalent per year with a large resource that remains open laterally and at depth. Copper Mountain also has the permitted, development stage Eva Copper Project in Queensland, Australia and an extensive 397,000 hectare highly prospective land package in the Mount Isa area.

Additional information is available on the Company’s web page at www.CuMtn.com.

Cautionary Note Regarding Forward-Looking Statements

This news release may contain forward-looking statements and forward-looking information (together, “forward-looking statements”) within the meaning of applicable securities laws.  All statements, other than statements of historical facts, are forward-looking statements.  Generally, forward-looking statements can be identified by the use of terminology such as “plans”, “expects”, “estimates”, “intends”, “anticipates”, “believes” or variations of such words, or statements that certain actions, events or results “may”, “could”, “would”, “might”, “occur” or “be achieved”.  Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance and opportunities to differ materially from those implied by such forward-looking statements.  Factors that could cause actual results to differ materially from these forward-looking statements include the successful exploration of the Company’s properties in Canada and Australia, the reliability of the historical data referenced in this press relase and risks set out in Copper Mountain’s public documents, including in each management discussion and analysis, filed on SEDAR at www.sedar.com.  Although Copper Mountain believes that the information and assumptions used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all.  Except where required by applicable law, Copper Mountain disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

[1]Includes low-grade stockpile. 

Originalmeldung direkt auf PresseBox lesen
Mehr von Firma PresseBox

Wirecard AG: Preliminary results 9M/ Q3 2018

Within the first nine months and third quarter of fiscal 2018 Wirecard AG continued its positive development of revenue growth and operating profit.

Preliminary Group revenues after nine months 2018 increased at around 42 percent to EUR 1.447 billion (9M/2017: EUR 1.021 billion). In the third quarter 2018 revenues increased by 35 percent to EUR 549.2 million (Q3/2017: EUR 405.9 million).

According to preliminary figures earnings before interest, tax, depreciation and amortisation (EBITDA) improved by 38 percent to EUR 395.5 million (9M/2017:
EUR 286.6 million) in the first nine months of 2018. In the third quarter 2018 EBITDA increased, in comparison with the previous period, by approx. 36 percent to
EUR 150.1 million (Q3/2017: EUR 110.1 million).

The Management Board of Wirecard AG expects a strong business development in the fourth quarter 2018 and confirms its forecast for earnings before interest, tax, depreciation and amortisation (EBITDA) of between EUR 530 million to EUR 560 million.

All results are preliminary. The quarterly statement for the third quarter 2018 will be published on 14 November 2018.

Originalmeldung direkt auf PresseBox lesen
Mehr von Firma PresseBox

Bookkeeping and Beer

We are excited to announce our very first „bookeeping and beer“ in our new office space in Prenzlauer Berg.

Eifas will show you the traps of bookeeping, how to manage it and which tools are useful for your daily business.

CEO and founder Moe Dorfner will start the end season workshop sessions with teh first part of the bookkeeping and beer event.

Agenda:

· Financial admin and accounting basics

· Reporting and general tax reporting ; liquidity planning

· How mobile work from anywhere in the world and bookkeeping on the go make your daily work life easier

· How the digitalisation of accounting and a digital tax office optimises your administrative processes

· Questions

Originalmeldung direkt auf PresseBox lesen
Mehr von Firma PresseBox

Web-Konferenz mit Moe Dorfner als Speaker über die Zukunft der Buchhaltung

Die erste Freeliance Web-Konferenz: Erfolgreiche Selbstständige braucht das Land

Unter dem Motto “How to start your Business as a Solopreneur in Germany” veranstaltet die FREELIANCE die erste Web-Konferenz zu der Frage, wie man sich als Ausländer in Deutschland erfolgreich selbstständig macht.

Der erste FREELIANCE Web-Konferenz steht in den Startlöchern.eifas beteiligt sich als Sponsor und mit seinem Speaker Moe Dorfner am Samsatg den 06. Oktober mit einem Beitrag über die Tücken der Buchhaltung. In dem sechstägigen Online Format Anfang Oktober teilen über 20 Speaker aus verschiedensten Bereichen ihre Expertise rund um das Thema “Selbständig arbeiten als Freelancer in Deutschland” mit den Konferenz-Teilnehmern. Mit der englischsprachigen Konferenz sollen vor allem Expats angesprochen werden, welche die Ambition haben, sich in Deutschland selbständig zu machen oder bereits als Freelancer tätig sind. Bereits jetzt sind schon über 1200 Registrierungen eingegangen. Interessierte können sich dennoch weiterhin auf der Webpage der Veranstaltungfür ein Ticket registrieren. Angeboten wird ein kostenfreies Ticket, welches einen 24-stündigen Zugang zu den Inhalten bietet sowie das 99€-Premium Package für die gesamte Konferenz.

Das Rundum-Paket: Vom “ABC der Unternehmensgründung” zur “Future of Freelancing”

Die Vielfalt des Fachwissens der Sprechenden piegelt sich in einem weiten Spektrum der angebotenen Talks wieder. Verteilt auf sechs Tage gibt es jeden Tag vier bis fünf Webinare, die ab 9 Uhr für jeweils 24 Stunden für die Teilnehmenden der Konferenz auf einem Portal zugänglich gemacht werden. Hinzu kommen Offline-Events, die in Frankfurt, Stuttgart, München, Hamburg und Berlin stattfinden.

Die Schwerpunkte der Web-Konferenz liegen hierbei in zehn verschiedenen Themenfeldern. Diese beinhalten nicht nur das Vermitteln von Expertise in den Bereichen “Finance”, “Taxes”, “Legal”, “Business Automation” sowie “Bureaucracy”, sondern auch Fachkompetenz rund um “Branding”, “Trainers, Coaches and Consultants”, “Newcomers”, “The Future of Freelancing”, “Customer Acquisition” und “Health”. Unter anderem führt Christopher Plantener, Co-Gründer von Kontist, dem ersten Banking-Tool speziell entwickelt für Selbständige und Freelancer und Sponsor der Freeliance, angehende Solopreneure in seinem Webinar zum “German Tax Trap Demystified” durch den oftmals gefürchteten Dschungel des deutschen Steuersystems für Selbständige. Während Tia Robinson, Co-Gründerin von Expath, einem Portal, das Expats in Deutschland unterstützt, mit “How to get your Freelance visa with ease” alle diejenigen berät, die ihren (rechtlichen) Grundstein für eine erfolgreiche Karriere in Deutschland noch legen müssen, ist der Talk von Dr. Antoine Larchez “How to get yourself in the productivity workflow?” von Productivity Day auch für alle die interessant, die bereits im Business sind und dieses mit dem Steigern der eigenen Produktivität boosten wollen. Der komplette zeitliche Ablauf der Konferenz mit allen Speakern und Themen kann hier aufgerufen werden.

Von Freelancern für Freelancern: Freeliance, die Community für die Selbständigen der Zukunft

Die Web-Konferenz wird von der  FREELIANCE organisiert und durchgeführt, einer Community für die erfolgreiche Selbständigkeit, die bereits um die 3000 Mitglieder hat.

“Die Vision der Freeliance ist die einer Zukunft, in der sich das Verständnis von Arbeit grundsätzlich wandelt und selbständige Arbeitsmodelle zunehmend an Bedeutung gewinnen und so schließlich die “Future of Work” prägen. Wir glauben bereits jetzt daran, dass Selbstständigen die Zukunft gehört und möchten sie daher mit der Freeliance dabei unterstützen, ein selbstbestimmtes Leben zu führen und mit ihrer eigenen Idee durchzustarten. Deswegen bin ich Teil der Freeliance als Expertin und berate ich Selbständige auf ihrem Lebensweg”

beschreibt Catharina Bruns, Autorin von “Work is not a job” die Mission der Community. Neben Zugang zu einem Pool an Experten, organisiert der Verein auch exklusive Events und Meet-Ups und bietet Zugang zu einem einzigartigen Netzwerk für Selbständige. Dabei ist die Freeliance Web-Konferenz nur der erste Schritt einer Bewegung, die Selbständigkeit in Deutschland grundlegend verändern wird.

 

Originalmeldung direkt auf PresseBox lesen
Mehr von Firma PresseBox

asknet AG Reports 22% Revenue Increase in the First Half of 2018 and Is on Track for Further Accelerated Growth

  • Consolidated sales revenues increased by 22 percent to 41.41 million euros (1H 2017: 34.08 million euros)
  • Gross profit of 4.34 million euros (1H 2017: 4.31 million euros)
  • Negative earnings before taxes (EBT): -0.24 million euros, but losses reduced by over 50 percent compared to the same period of 2017 (1H 2017: -0.51 million)
  • Guidance 2018: steady growth in revenues and gross profit, EBT remains negative due to additional hiring and technology investments
  • Growth plan 2018-2020: accelerating current growth through additional investments including capital increase scheduled for completion in Q4 2018

asknet AG, an ecommerce services company majority owned by the Swiss-listed international technology and media company The Native SA (www.thenative.ch), achieved a strong increase in consolidated sales revenues of 22 percent to 41.41 million euros in the first six months of 2018. The increase is partly due to the high number of new customers acquired in the eCommerce Solutions Business Unit in the first half of the year. In addition, new shops that had already been set up in the second half of 2017 were further ramped up. asknet AG also gained new customers in the Academics Business Unit, which contributed to the good sales revenues’ development.

Gross profit, the key performance metric for the asknet Group’s business, rose from 4.31 million euros in the prior-year period to 4.34 million euros in the first half of 2018. The gross profit margin in relation to sales revenues declined from 12.6 percent to 10.5 percent. The lower growth rate of the company’s gross profit compared with the strong sales revenue growth is mainly explained with longer income recognition periods in the Academics Business Unit. In addition, some projects were rescheduled to the second half of the year.

Overall, the asknet Group improved earnings before tax (EBT) to -0.24 million euros in the first six months of 2018, after -0.51 million euros in the same period of the previous year. The consolidated net result for the period amounted to -0.47 million euros (previous year: -0.51 million euros).

In the eCommerce Solutions Business Unit, the successful ramp-up of new shops in the reporting period led to a 29 percent increase in revenues, totaling 30.72 million euros (previous year: 23.81 million euros). Gross profit in this business unit also increased significantly by 17 percent to 3.21 million euros. The under-proportional increase is in particular due to the larger number of small and medium-sized customers, which results in a weaker margin on the one hand, but a broader and more stable customer spectrum on the other. In the Academics Business Unit, asknet recorded a 4 percent increase in sales to 10.69 million euros. Gross profit fell from 1.56 million euros to 1.13 million euros. The 27 percent decline is mainly due to completed transactions that were not yet booked to gross profit and project postponements to the second half of the year.

Taking into account the strong results from the first half of the year, the company’s Executive and Supervisory Boards approved on September 26, 2018 the new growth plan for 2018-2020. It aims at providing asknet AG with additional capital to achieve a larger scale of business and sustainable long term profitability. The main focus lies on reinforcing staff in the areas of sales and marketing and developing new technologies and systems allowing for faster onboarding new clients and improving their retention rates. In connection with the new growth strategy, the company also revised its targets for 2018 and onwards. While asknet is continuing to forecast a strong growth in sales revenues and gross profit for the full year 2018, negative earnings before taxes (EBT) in a high six-digit range are accepted in the current year in favour of stronger growth. In parallel to continued high investments, the growth plan aims at further accelerating top-line-growth and exceeding the break-even point in 2019. By 2020, the company intends to at least double its sales revenues and gross profit in comparison to the levels budgeted for the full year 2018, and to achieve strong and sustainable profitability on an EBT basis.

To finance the growth plan, asknet AG’s Executive Board with approval of the Supervisory Board recently decided to execute a capital increase from cash contributions, issuing up to 93,395 new shares at a subscription price of EUR 10.5 per share. Shareholders are granted their statutory subscription rights. An investor, who is currently not a shareholder of asknet AG, will guarantee the capital increase and underwrite the shares that were not subscribed by existing shareholders until the end of the subscription period. The public offer in connection with the capital increase is to be made without a prospectus, but with a securities information sheet, which has been submitted for approval by the Federal Financial Supervisory Authority (BaFin). The approval will presumably be obtained in the course of the day. The subscription offer is expected to be published in the Federal Gazette (Bundesanzeiger) on October 4, 2018, with the capital increase to be fully exercised by the first week of November 2018.

Selected key figures of the Group

January 1 – June 30, 2018

Sales revenues: 41.41 million euros
Gross profits: 4.34 million euros
Gross profit margin (of sales revenues): 10.5%
EBT: -0,24 million euros
Net result for the period: -0,47 million euros
Financial debt: –

January 1 – June 30, 2017

Sales revenues: 34.08 million euros
Gross profits: 4.31 million euros
Gross profit margin (of sales revenues): 12.6%
EBT: -0.51 million euros
Net result for the period: -0.51 million euros
Financial debt: –

The full report on the first six months of 2018 is available on the company’s website at www.asknet.com as of today.

Originalmeldung direkt auf PresseBox lesen
Mehr von Firma PresseBox

Increase of VAT rate to 20%

The Russian VAT rate is very likely to rise from 18% to 20% starting from 2019. The respective draft law was introduced by the Russian government on June 15, 2018.

There will be no change to the reduced VAT rate of 10% on a number of foodstuffs, goods for children, medicines, books and periodicals, explain the Ecovis experts.

The following compensatory measures are being introduced parallel with the rise of VAT rate:

  • reduction of threshold for accelerated VAT refund to exporters. Currently only companies which have paid not less than 7 bln roubles in taxes for the last three years may enjoy accelerated VAT refund; this figure will be decreased to 2 bln. roubles.
  • reduction of 3-month period for carrying out desk audit for the VAT refund
  • abolition of tax on movable property

Author

Sergey Vyssotsky, Director Ecovis Conseco, ECOVIS Conseco, Moscow, Russia

Originalmeldung direkt auf PresseBox lesen
Mehr von Firma PresseBox