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The pleasing expansion of business volume from € 12.3 million in the previous year to € 14.3 million in the 2004/2005 financial year resulted from continuously rising quarterly revenues. After consolidation of the revenue level at € 3.2 million in the first quarter of 2004/2005 just below the value of the last quarter of the previous year, quarterly revenues rose to over € 3.6 million in the second quarter and just under € 3.7 million in the third quarter and then to € 3.8 million in the fourth quarter, a value that SinnerSchrader had not achieved since the first quarter of 2001/2002. The return to rising revenues that occurred in the middle of the 2003/2004 financial year thus proved to be sustainable.

A major contributory factor in the constancy of the growth is that SinnerSchrader has offered the full spectrum of its service portfolio on the market following the implementation of the new organisational structure in April 2004 and has thus been able to better develop the market potential for its services. Furthermore, the Group’s broader presence on the market meant that the sometimes greatly varying developments of the segments complemented each other well over the quarters.

The Interactive Services segment underwent especially dynamic development, with above-average growth rates in the media business and operational services in particular. SinnerSchrader profited from the good growth rates in the market for online advertising, on the one hand due to its expertise in the field of cost-per-order transactions and, on the other hand, due to the Group’s entry into search engine marketing. The good results of business with newly acquired customers in the two other segments paired with successful cross-selling ensured growth dynamics in operational services. In the year of the report SinnerSchrader also increasingly offered to manage customers’ websites on the Company's own computer capacity with contracts running for several years. In the 2004/2005 financial year the segment earned revenue of € 4.4 million with external customers, which corresponds to a share of almost 31 % of Group revenue. In the five months of the previous year following the establishment of the segments in April 2004 the share had been 24 %.

Following a strong fourth quarter of the previous year and an even better second quarter of 2004/2005, in the second half of the 2004/2005 financial year business in the Interactive Software segment consolidated at a good level, albeit slightly below the peak values. Following initial pleasing impetus from business with new customers, above all the order to set up the SZ-Mediathek web shop for the Süddeutsche Zeitung, there was not much business with new customers in the second half of the financial year. Therefore, the focus mainly lay on business with existing customers, with SinnerSchrader proving their efficiency with the relaunch of the comdirect bank website in June 2005. Total revenue with external customers in the financial year was € 5.7 million, a Group share of 40 %. In the last five months of the previous financial year the share had been 44 %.

The Interactive Marketing segment contributed revenue of € 4.2 million from business with external customers or a good 29 % (in comparison to 32 % in the period April 2004 to August 2004) to the Group’s total revenue in 2004/2005. Following initial success in the first months after the reorganisation in April 2004 the main task was to permanently establish the marketing and creative expertise of SinnerSchrader on the market. Sales efforts with this aim met with a good response and led to good business with new customers in the 2004/2005 financial year: just under a third of the revenue in the Interactive Marketing segment was earned from business with new clients. Among others, VW Mobile Services, the E-Plus subsidiary simyo and Dow Jones were acquired.

In relation to the 2004/2005 financial year, growth in revenue rose by 16 % in comparison to the previous year. The project service business conducted mainly in the Interactive Software and Interactive Marketing segments increased by a good 8 % in comparison to the previous year. Revenues with media and other services, which were largely earned by the Interactive Services segment, rose by 55 % and 14 % respectively, and ensured that the Group earned clear double-digit growth. 21 % of the revenue was earned with newly acquired customers. In the previous year the new customer rate had only been 16 %.

In the 2004/2005 financial year SinnerSchrader earned 64 % and 83 % of Group revenue with the five and ten biggest customers or customer groups respectively. In 2003/2004 the corresponding shares had been 70 % and 81 %. This means that the slight shift in share towards the top ten went hand in hand with a more-or-less equal weight distribution among the important customer relations. Two of the top ten were new customers. In the 2004/2005 financial year, the biggest customer accounted for a share of 20 %; in the previous year the biggest customer had been responsible for 18 % of revenue. As in the previous year, SinnerSchrader earned revenue of over € 1 million with five customers.

As in the previous year, the breakdown according to sectors shows a comparatively balanced distribution of business across the different sectors. But not one of the five sectors accounted for a share of over a third. The Transport & Tourism, Retail & Consumer Goods and Media & Entertainment sectors increased their share. The share of revenue with companies from the Financial Services industry and the Communications & Technology sector fell.

In the 2004/2005 financial year the development of incoming orders was very close to that of revenue. Firstly, customers in project business are still issuing orders for initial projects and, above all, for maintenance and further development projects in segments that are as small as possible. Secondly, budget sizes are not prescribed in the key orders for SinnerSchrader in the media business, but result from customer visits actually made to the website marketed or from orders actually placed. This means that the orders on hand in the year of the report and as of 31 August 2005 were still below a quarterly revenue.