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Investor Relations News

New Service Offering for Vtion's Mobile Business Club goes live

  • Online Web Video Conferencing

 

Frankfurt, 20. November 2009

In the first half of November 2009, Vtion has released a new service offering for its Vtion Mobile Business Club members into the online platform. Thus, one of the two new Mobile Business Club service offerings planned for Q4 2009 has already been realized.

The first feature, Online Web Video Conferencing, is a good example of how Vtion's service offerings have benefited from the popularization of 3G technologies and higher bandwith in China. The 3G networks have made it possible for Vtion to offer online web conferencing through the mobile business club that makes it possible for parties to video conference together via the web. The video conferencing service is available to all members who pay the standard 240 RMB (about 22 Euro) membership fee at no extra charge. Acting as the host party, Vtion business club members can conference with non-business club members as well as other business club members.

The second service offering is Vtion's Smart Phonebook, which organizes clients contact information in a convenient and easily-searchable manner, while remaining accessible from anywhere through the web. This service is currently in its trial phase and scheduled to fully become part of the package of service offerings in late December 2009.

Mr. Chen Guoping, CEO of Vtion Wireless Technology AG commented "By adding new and attractive service offerings into our Mobile business club, we aim to increase the overall attractiveness of the business club to its target audience of business travellers and thus achieve a higher rate of new memberships in this attractive, high-margin business." At the end of Q3 2009 the Business Club had reached a total of 229.671 members.

 

Strong financial performance

As reported on November 5, 2009, Vtion's sales increased In the first nine months of 2009 by 62% year-on-year to EUR 47.7 million, EBIT was up 50% year-on-year to EUR 14.2 million and net profit rose by 49% year-on-year to EUR 13.9 million which surpasses the company's net profit of EUR 12.4 million for fiscal year 2008. Given the strong performance of Vtion in the year so far and the current trading, the management expects for the full year 2009 to generate consolidated group sales of Euro 66-70 million and expects to realize an EBIT margin of approx. 29%.

 

About Vtion

The Vtion Group is one of the three leading suppliers of wireless data cards and associated services for the mobile use of computers via broadband wireless networks in the People's Republic of China. The Vtion Group concentrates mainly on the development and sale of wireless data cards, including provision of appropriate after-sales services. The Vtion Group also supplies Internet-based data service solutions. The company has about 155 employees as of September 30, 2009. The Vtion Wireless Technology AG shares are being traded in the Prime Standard on the Frankfurt Stock Exchange with the ISIN DE000CHEN993.

 

For further information, please contact:

Kirchhoff Consult AG
Dr Kay Baden, tel.: +49 40 60 91 86 0, baden@kirchhoff.de
Janina Wismar, tel.: +49 40 60 91 86 50, janina.wismar@kirchhoff.de

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