3-monthly Report 2010

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Content HigHligHts 3M 2010 tHe sHaRe 2 3 interim management report MaRket and tRading enviRonMent key financials key events afteR tHe peRiod Risk RepoRt cuRRent outlook 5 5 6 7 8 8 Consolidated aCCounts Balance sHeet incoMe stateMent casH flow stateMent cHanges in equity 9 9 11 12 14 Consolidated notes imprint/disClaimer 15 17 .

HigHligHts 3m 2010 40 % increase in total sales over 3m 2009 – a successful start into the new financial year positive net earnings despite maximum initial fixed cost impact of zooplus’ new international distribution center zooplus’ new international distribution center in tilburg / the netherlands fully operational – resulting in a doubling of the group’s european logistics capacity to total sales of around eur 300 mm positive outlook for 2010: significantly positive overall earnings on the back of continuing and highly dynamic growth .

2010 comprised 2.15% 2 3 10.42 % 12. on october 21.74 %* 17. 2010 The zooplus AG share is identified as follows: • nternational securities identification number (isin): i de0005111702 • german securities identification (wkn): 511170 • common code: 036001097 the company’s total free float (according to the definition of deutsche Boerse ag) stands at approximately 33 % as of March 31. 2009. first trading occurred at euR 26.561.755 no-par value bearer shares representing a pro rata amount of the registered share capital of euR 1.26 % As of March 31.00 each.38 9.755.20 euR 13. shareholder structure 17.31 % 5 % 6. zooplus ag’s designated sponsor is close Brothers seydler Bank ag.36 % 3 10. as of March 31.41 % 12.15% 14.23 % 6 7 4 8. 2010 percentage change to the shareholders de0005111702 . this will create a higher degree of visibility and attractiveness of the zooplus share for investors. key data german securities code no.3 tHe sHare zooplus ag’s shares were publicly listed on the entry standard segment of the open Market of the frankfurt stock exchange on May 9.2 As price – end of q1/2010 shareof March 31. wkn isin stock exchange symbol 1 segment 2 511170 Z01 Burda Digital Ventures GmbH 5 6 7 8 BDV Beteiligungs Regulated Market (prime standard) GmbH & Co.00 per share. KG The Nomad Investment Partnership LP European E-Commerce Fund LP European E-Commere Fund B LP Fidelity International Member of the Management Board Free-float *According to Deutsche Börse the freefloat amounts to 33.36 % 5 6 7 8 6.74 %* 8 1 21. zooplus‘ total registered capital as of March 31.561. 2008.20 over a year-end price of euR 32. KG Euro Fide type3 shares of no-par value bearer shares The Nomad Investment Partnership LP 2.42 % 9.0 % share price – end of fiscal year 2009 Mem Free *According to Deutsche Börse the freefloat amounts to 33. 2008 share capital (in euR) initial subscription price 26.00 on december 31.00 euR 36.23 % 6 5 4 8. the zooplus share price had increased by approximately 13 % to euR 36. 2009 the company’s shares were admitted to the Regulated Market / prime standard segment.31 % 7 2 14. 2010.00 euR 32.00 4 European E-Commerce Fund LP initial listing May 9.41 8 % 1 21.38 % 1 2 3 4 Burda Digital Ventures GmbH BDV Beteiligungs GmbH & Co. as well as require the company to adhere to the highest levels of transparency and corporate governance. 2010.

2010 preliminary H1 2010 sales publication of Half-year Report H1/2010 preliminary q3 2010 sales publication of the 9-Month Report q3/2010 analysts‘ and investors’ conference as part of the german equity forum in frankfurt am Main . 2010 august 31.4 Stock Chart zooplus AG: January 1. 2010 to March 31. 2010 in EUR 38 37 36 35 34 33 32 31 30 29 28 January February March zooplus AG (XETRA) DAXsubsector All Retail. Internet SDAX Financial calendar 2010 date July 30. 2010 october 29. 2010 november 22 to 24. 2010 november 22.

which means that. Market and competitive environment The general economic environment despite the first signs of an upswing in the european economies. zooplus expects a stable or slightly increasing overall market volume with strong overall online growth over the coming years. fish and horses. spain and italy). reptiles. zooplus continues to expect that there will not be any additional positive impulses coming out of the macroeconomic environment for the foreseeable future. whilst the general european consumer climate was less depressed than expected consumers still tend to remain cautious in their spending habits. birds. zooplus sells around 7. zooplus ag is thus the online market leader in terms of sales and customer base in all european high-volume markets (germany. it remains unclear how sustainable this growth will be. zooplus ag‘s medium-term objective is to consolidate and increase its online leadership and to sustainably benefit from anticipated further substantial growth in the online retail sphere. france. zooplus operates a total of eleven countryspecific web shops: in addition to the six high-volume markets detailed above. in addition. on top of interactive features such as discussion forums and blogs. the netherlands. Key influencing factors there are two key factors impacting the development of european online pet supplies retailing: the underlying growth of the european pet supplies market as such (1) as well as the general and industry-specific growth of online shopping and online purchasing behavior (2). e-Commerce and online pet supplies zooplus has a pan-european presence in 16 countries which together represent a total annual pet supplies market volume of around euR 18 billion. in its own view. it also operates local webshops in Belgium. from the company‘s perspective. the czech Republic.000 food and accessories products for dogs.com. the company operates a range of country-specific and international online shops. zooplus generates the majority of its sales by selling its own stocked goods from its central warehouses located in staufenberg / germany and tilburg / the netherlands. the medium to long-term demand structures enjoy above average stability. it also serves slovenia. as well as specialty articles such as toys. united kingdom. in total. particularly within its food segments. finland and poland. cats. in which zooplus sells products directly from selected suppliers with the products then being shipped directly from supplier to customer. zooplus ag‘s own private labels. shipments and final mile deliveries are made via select parcel couriers.5 interim management report Market and Trading Environment Business areas zooplus ag was formed in Munich in 1999. luxembourg and denmark through a multinational english language offering via zooplus. the pet supplies market in total enjoys a very low degree of seasonality as a result of marked repeat demand patterns. care and hygiene products and other accessories. around 70 % of total demand is generated with pet food itself. zooplus offers its customers a wide range of free content and information accessible through its websites. as of May 2010. this includes everyday staples such as brand name foods generally available with high street retailers. sweden. as an online retail company zooplus sells pet supplies directly to private customers via the internet. such as veterinary and other animal-related advice. ireland. small animals. zooplus generates a small part of its sales in its so-called „direct line business“. interim management report . in addition. and considers the group to be the clear european online market leader in terms of sales and customer base.

zooplus ag operates a branch office “succursale” in strasbourg/france. this development has to be seen in the context of the company’s expansion across europe and the build-up of our international logistics capacity. the board is also pleased with the company’s asset structure and financial standing at present.1 mm. in particular. Moreover. germany • bitiba gmbH. total personnel costs increased from euR 1. Key financials all percentage figures outlined below are approximate figures and might be subject to rounding differences with respect to the more detailed figures shown in the consolidated accounts. Munich. this reflects strong organic sales growth both domestically and internationally as well as a sustained increase in other income. the latter are particularly encouraging as they include the full fixed cost impact of the company’s new international distribution hub for the first time.3 % in 3M 2009 to 42.6 Group structure the zooplus group comprises three wholly owned subsidiaries which are consolidated in the financial statements.7 % of total sales y-o-y.5 mm to euR 39. this is reflected not only in its 40 % growth rate y-o-y but also in its positive net earnings. this corresponds to a slight change in zooplus’ overall personnel cost quota from 5. germany (second-brand business) • matina gmbH. which is down marginally from 57. zooplus ag.4 % in 3M 2010. germany (private label business) • zooplus services ltd. Munich. during the first 3 months of 2010 cogs amounted to 57. to constantly increase the company‘s earnings (defined as pre-tax income). for 2010. at the same time. Corporate strategy the management aims to maintain and expand its existing market leadership within the european online pet supplies space and.8 mm y-o-y. . Development of major expenditure items costs of goods sold (cost of materials) did decrease slightly y-o-y. the company’s net product sales margin improved from 42. Development of total sales overall. uk (international business development and uk) in addition. we expect to reap renewed scaling effects in this regard. given this backdrop.0 % to 5. in particular focusing on the following areas: • price and product range management • new customer acquisition and existing customer management • logistics and distribution • technology and infrastructure • working capital management and financing The group’s development during the period under review zooplus has had a good first quarter 2010. total sales increased by 40 % from euR 28.6 % of total sales.4 mm to euR 2.3 % (of total sales). the company utilises a wide range of financial and non-financial indicators and steering tools. Munich.. in tune. our activities focus on the following specific objectives: • expanding and increasing our customer base across all european markets • increasing the average sale and contribution margin per customer / annum • achieving a disproportionately lower increase in the company‘s fixed and semi-fixed costs versus its overall total sales growth rate in order to achieve these targets. oxford. this growth in total sales is the result of a highly focused european growth strategy.

9 mm at the end of March 2010 and. unchanged from year end 2009.9 mm at the end of March 2010. therefore. this primarily reflects increased fixed costs in logistics and.6 mm as of March 31. all in all. therefore. cash flow from investing activities stood at euR -0. total depreciation stood at euR 0. 2009.8 mm at the end of March 2010 versus euR 10.0 mm which are used opportunistically for its working capital financing needs.4 % of total sales. which is virtually unchanged from year end 2009.3 mm during 3M 2009 to euR 0.2 mm during 3M 2009 to euR 0.1 mm during 3M 2010.03 mm in 3M 2009) was almost unchanged. Assets and Financing total long-term assets were euR 6. therefore. stands at 36 %.8 mm in 3M 2010 versus euR -1. at the company’s disposal are flexible bank financing facilities of up to euR 10.6 % to 36. this results in markedly higher numeric swings and volatilities than the company’s underlying earnings might suggest. this reflects an increase from 35.1 mm at the end of 2009 to euR 23. as an online retail operation.2 mm in 3M 2009 to euR 14. at 0.0 mm at the end of the first three months of 2010.3 mm y-o-y. accounts payable amounted to euR 6. the current equity-todebt ratio.7 mm as of dec 31.1 mm in 3M 2009. total short-term assets decreased slightly from euR 23.4 mm in 3M 2010. on the same note.05 mm in 3M 2010 versus euR -0. EBIT and consolidated Earnings eBit fell slightly from euR 0. accounts payable or vat liabilities. assets or liquidity situation did not occur.3 %). mostly due to the opening of the company’s new tilburg logistics hub. cash flow from financing activities (euR -0. therefore. cash flow from operations was euR 1.3 mm at the end of 2009.7 other expenses increased from euR 10. Key events after the end of the reporting period important events of particular relevance after the end of the first three months of 2010 which might have had a substantial effect on the company’s earnings. Major factor behind this development is the increase of national and international logistics costs (+1. pre-tax profits (eBt) fell from euR 0.7 mm. total equity stood at euR 10. consolidated profits (after tax) declined from euR 0.2 mm during 3M 2010. interim management report . indicates the company’s increased underlying earnings capacity. the company enjoys unrestricted access to working capital financing at attractive overall terms.4 mm to euR 0.2 mm and.1 mm in 3M 2009 due to various technology development projects. 2010 versus euR 7. at the end of March 2010 the company had drawn an amount of euR 5. our long-term equity ratio target corridor stands at a range between 35 % and 40 %. which is the same level as during 3M 2009. the company’s total balance sheet volume amounted to euR 29.2 mm in 3M 2010 versus euR -0. zooplus is subject to considerable volatilities in key balance-sheet and cash-flow figures such as inventory.0 % of total sales.

consequently. which will have a generally positive effect on zooplus. . irrespective of this. we are forecasting the following results for 2010: • total sales will increase by around 35 . overall. there have not been any material changes in terms of the company’s risk profile from what has been outlined in the company’s 2009 annual report. Outlook underlying economic conditions are expected to improve slightly in 2010 compared to 2009. within this context. zooplus is exposed to a wide-ranging variety of business opportunities and risk factors. the dynamic penetration of new markets and the establishment of market-leading positions within all key european geographies lie at the heart of our entrepreneurial activities. we believe that online shopping per se will continue to grow substantially during the coming year and. the Management Board already set up a comprehensive risk monitoring and management system at a very early stage.40 % from euR 130 mm to around euR 175 .180 mm • pre-tax earnings will increase to a low to medium singledigit positive euR mm range. zooplus will benefit substantially from these effects. as a result. however. the company‘s individual departments are primarily responsible for identifying and evaluating risks as well as developing relevant and effective counterstrategies. we can assume that this will take a certain amount of pressure off prices and margins. and on the back of these trends. gain in importance as a sales and distribution channel. we are thus forecasting a slight increase in total sales for our industry as a whole during the year.8 Risk Report as an internationally operating business.

104.889. 31.873. iv.847.89 715.98 1.625. ii.156.43 2. LOnG-TERM AssETs long-term assets intangible assets financial assets deferred tax assets March 31.76 515. iv. 2010 dec.963.67 Total long-term assets B.08 .711.611. v.699.320.726.790.218.546.73 6.366. shORT-TERM AssETs inventory advance payments accounts receivable other short-term assets cash in hand and cash equivalents 11.46 23. iii.74 29. i.837.047.533.046.428.52 253.18 23.224.90 5.990. i.623.938.57 451.509.388.10 2.640.324.007. iii.743.882.738.06 253.65 371.80 Total short-term assets Total assets group financial statements 2.24 5.197.546.333.015. ii.63 12.85 517.065.904.9 Consolidated BalanCe sHeet Assets in euR A.18 6.12 5.13 29. 2009 843.836.62 5.

043. LOnG-TERM DEBT Deferred tax liabillties C.500.261.76 -14. iii. v.014.809.18 109.00 19.10 Liabilities in euR A.147.16 29.005.754. ii.19 5.024. EquITy capital subscribed capital reserves other reserves profit and loss carried forward March 31.144. shORT-TERM DEBT trade liabilities financial debt other short-term liabilities tax liabilities provisions 93.938.284.72 104.823.889.46 73.119.286. i.65 34.00 22.57 10.80 Total short-term debt Total liabilities . 31. i.561.660.984.209.63 7.966.14 -320.654.08 6.143.755.087.844.91 10.25 5.565.971.156.023.44 6.902.561. iii.75 2.070.755.726.837.36 -336. ii.689.200.950.758. iv.69 Total equity B.00 18.01 100.01 6.82 -14. 2009 2.67 29.00 22.608. iv.591. 2010 dec.

53 2.05 0.51 326.118.99 3.61) (-2.32 -84.835.078.08 0.26 -135.77) 357.08 q1/2010 37.894.07 1.410.07) 261.58 -10.98 132.427.614.079.652.001.376.901.066.012.535.32 28.082.387.08 -14.41 216.71) (-36.950.46) (-266.466.731.39 -16.40 -1.672.390.925.357.698.129.045.167.533.980.694.15) (-368.28 q1/2009 26.716.458.934.166.24) (-2.89 -2.830.79) -113.34 15.719.05 0.117.051.895.24 39.477.82 (-2.01 group financial statements .50 (-1.02 -2.759.444.04) (-1.32 -31.419.164.11 Consolidated inCome statement in euR sales Other operating income Total sales cost of materials personnel costs cash non-cash depreciation other expenses of which logistics/fulfillment of which marketing of which payment Operating income financial income financial expense Pre-tax profit taxes on income Consolidated net profit differences from currency translation overall result Consolidated profit/loss per share undiluted diluted 0.946.656.24 191.46 (-6.149.995.45 19.77 -22.01 191.070.94 132.74 -45.78) -157.438.947.905.00 (-9.643.

25 -102.497.599.112.51 -19.00 -221.78 490.12 444.741.25 .00 0.741. plant and equipment Cash-Flow from investing activities (Continued on the next page) q1/2010 q1/2009 216.234.26 157.19 8.58 36.697.00 -77.92 521.86 -366.12 group CasH flow statement in euR Cash Flow from operating activities pre-tax operating profit allowances for: depreciation of fixed assets non-cash personnel expenses other non-cash expenses financial expenses financial income changes in: inventory advance payments accounts receivable other short-term assets accounts payable other liabilities provisions tax interest income Cash Flow from operating activities Cash Flow from investing activities proceeds from the disposal of property.079.91 -420.796.89 31.925.80 -146.319.15 -1.815.905.00 0.070.32 326.656.231.74 113.46 45.00 0.08 1.93 -87.129.046.35 -221.958.901.41 -3.581.79 177.47 8.00 19.365.92 0.104.00 -102.143.74 1.617.979.00 3.32 -1. plant and equipment/intagible asstes payments for financial investments payments for property.65 -652.326.32 1.76 974.35 0.936.66 -280.700.200.112.799.52 18.643.

51 -1.070.035.905.51 -31.454.40 -2.809.08 956.014.13 in euR Cash Flow from financing activities capital increase uptake of loans loan repayments interest paid Cash Flow from financing activities net change of cash and cash equivalents cash and cash equivalents at the beginning of the period cash and cash equivalents at the end of the period Composition of funds balance at the end of the period cash on hand.00 -31.00 -45.46 -1.654.070.665.821.014.295.905.276.41 -45.611.00 0.873.548.38 439.68 -737.73 -2.41 1.00 0.38 0. bank deposits.529.295.370.41 group financial statements .168.104.39 -572.00 0.01 956.41 2.81 -2.00 0.370. cheques overdraft balances Cash and cash equivalents at the end of the period q1/2010 q1/2009 0.

34 -14.656.00 2.00 22.561.79 0.01 0.371.14 20.00 -404.00 0.406.78 0.046.91 0.00 191.14 group statement of CHanges in equity in euR capital subsribed 2.18 36.066.703.966.01 191.00 0.066.00 -320.09 total As of January 1.25 other reserves -336.689.00 15.76 0.00 0.901.10 0.79 -2. 2009 10.00 0.823.01 -12.00 0.143.556.083.901.00 0.113.209.00 20.00 0.57 -13.00 capital reserves 22.656.19 accumulated profit or loss -14.34 10.156.878.69 1.758.020.551. 2010 As of January 1.166.286.561.947.284. 2009 additions from stock options additions from cash contributions 3M result 2010 As of March 31.406.024.75 9.00 132.46 36.36 1.891.01 10.00 -2.94 132.166.18 0.00 0.950.755.592.020.78 15.106.660.00 2.755.97 .00 0.94 0.82 -402.00 0. 2010 additions from stock options currency equalisation item 3M result 2010 As of March 31.00 2.

as an online retailer.05 (previous year euR 0. Besides the financial figures.1 mm during 3M 2010. the company distributes its products from one central location. consolidated profits (after tax) declined from euR 0. consequently. all types of products sold are homogenous and indivisible into further specific segments. the company does not internally divide along any other segments.e. Moreover. there are no further geographic segments to be identified. the weighted average of shares was 2. as a consequence. consequently. earnings per share (pre-dilution) were euR 0.755.561. the report comprises further information such as reports on the the general trading conditions as well as various selective notes.15 Consolidated notes notes and comments regarding the 3M 2010 accounts Accounting principles the 3M 2010 reports were prepared in accordance with the international financial Reporting standards (ifRs) and are based on the same basic accounting principles as applied in the company’s 2009 annual accounts. Matina gmbH / Munich / germany (registered under amtsgericht Muenchen HRB 177083) as well as Bitiba gmbH / Munich / germany (registered under amtsgericht Muenchen HRB 177246) and zooplus services ltd. Consolidation principles the consolidated companies are: zooplus ag / Munich / germany (registered under amtsgericht Muenchen HRB 125080). companies House cardiff). Consolidated notes . all subsidiaries are 100 % owned by zooplus ag.08). pet supplies retail within the european union. the dilution effect only marginally affects earnings per share which remain at euR 0.05 (previous year euR 0. earnings per share (diluted) are calculated on a weighted-average basis of shares in circulation plus the total number of share equivalents resulting out of vested stock options which have not been exercised.08). i. during the period. / oxford / uk (registered under company number 6118453.2 mm during 3M 2009 to euR 0. Earnings per share earnings per share (pre-dilution) are calculated on a weighted-average basis. the company does not report along separate business segments. segmental reporting zooplus ag is only active in one specific business segment.

16 Declaration according to section 37w Abs.zooplus. the management board . 5 WphG (securities act) as all of zooplus’ interim reports.com/ir/cgk . the 3-monthly report 2010 has neither been audited nor reviewed by the company’s auditors. German corporate governance codex zooplus ag’s corporate governance declarations according to § 161 of the german public limited companies act (aktiengesetz) can be accessed under http://investors.

and are based upon assumptions as to future events that may not be accurate.zooplus. in case of discrepancies the german version prevails.de www. these statements are based on current experience.imprint Publisher zooplus ag sonnenstrasse 15 80331 Munich germany tel. estimates and projections of the management and currently available information. Forward looking statements this report contains forward-looking statements. we do not assume any obligation to update the forward-looking statements contained in this report. they are not guarantees of future performance.cometis. such factors include those discussed in the Risk Report on page 8. performance or achievements to be materially different from those that may be expressed or implied by such statements. editing.de www. .de Concept. layout and typesetting: cometis ag this annual report is also available in german.: +49 611 20 58 55 – 0 fax: +49 611 20 58 55 – 66 e-Mail: info@cometis. Many factors could cause the actual results. involve certain risks and uncertainties that are difficult to predict.de Investor Relations cometis ag unter den eichen 7 65195 wiesbaden germany tel.: +49 (0) 89 95 006 – 100 fax: +49 (0) 89 95 006 – 500 e-Mail: kontakt@zooplus.

zooplus ag sonnenstrasse 15 80331 Munich germany .

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