3U HOLDING AG: Release of Quarterly Statement III/2017

Marburg (pta010/09.11.2017/08:30 UTC+1) * Sales, EBITDA and earnings at five-year high
* Sale Windpark Schlenzer significantly shapes the quarter
* Depreciation on loan receivable

3U HOLDING AG (ISIN DE0005167902) today published its Quarterly Statement III/2017. Thereafter, 3U HOLDING AG achieved the best Group figures in five years in the past quarter.

Group sales in the third quarter of the financial year 2017 amounted to EUR 14.2 million, about EUR 3.2 million more than in the second quarter, and also compared to the first nine months of the previous year, consolidated sales increased by around EUR 3.1 million to EUR 35.6 million. At around EUR 3.8 million, the sale of the wind farm Schlenzer, which has meanwhile fulfilled all closing conditions, had a significant impact on Group sales.

In the interests of a consistent presentation of the business development and against the background of the new accounting standards to be applied with effect from January 1, 2018, the proceeds from the sale of the wind park Schlenzer is reported in consultation with our auditor at around EUR 3.8 million net and not at around EUR 12.4 million, as initially planned in consultation with our auditor. This means that the proceeds from the sale of the wind farm have been netted with the liabilities assumed by the purchaser in order to determine sales.

The reductions in regulated wholesale prices for telephony made on January 1, 2017, however, led to a significant decline in sales. Then again, this decline in sales was largely offset by continued sales growth in the area of cloud-based solutions and in the segment SHAC.

Compared to the same quarter last year, EBITDA increased by TEUR 1,065 especially as a result of the successful sale of the wind farm Schlenzer. An increase in other operating expenses prevented an even higher figure. Here, the persistently negative development in the solar thermal industry has meant that a further considerable value adjustment of around TEUR 450 had to be made on the loan receivable from the sale of the former solar thermal business.

Consolidated earnings in the third quarter, at TEUR 550, were TEUR 470 higher than in the same quarter last year. Earnings in the first nine months of the financial year 2017 exceeded with EUR TEUR 780 the earnings of the same period of the previous year by TEUR 430.

The above-mentioned net statement of the wind farm sale reduces the forecasted sale for the 2017 financial year. The expected consolidated earnings are not affected by this decision. Accordingly, the Management Board expects the following key Group figures for the 2017 financial year:

Fiscal Year 2017	Forecast to date	Forecast current
Sales (in EUR million)	50 - 56	45 - 47
EBITDA (in EUR million)	5.5 - 7.5	5.5 - 7.5
Earnings (in EUR million)	0.5 - 1.5	0.5 - 1.5

More detailed information can be found in the Quarterly Statement III/2017, which is available for download on our website at www.3u.net.

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