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ER - 3U: Revenue for the last half-year up 50% compared to the first half-year.

Company: 3U Holding AG Date: 2004-03-15 Language: English Register to download

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 News Details

Ad-hoc | 15 March 2004 07:09

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3U: Revenue for the last half-year up 50% compared to the first half-year.

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Revenue for the last half-year up 50% compared to the first half-year. Profit reduced because of a one-time reserve for bad debt. 3U looks back to a successful year 2003. The company continues to be profitable while continuing to expand through the opening of subsidiaries in Belgium and Luxemburg. With the takeover of OneTel, business in Germany was greatly reinforced, while setting the basic conditions for an expansion in 2004. The company’s revenues for 2003 were 64.68 million Euros, 2% less than in 2002. During the last 2 quarters, revenues increased by 50% compared to the first 2 quarters, which compensated for the temporary reduction of the less lucrative wholesale business. The profits of the company for the operational business improved greatly. However, the yearly surplus from 2003 was affected by a one-time reserve of about 1.8 million Euros due to OneTel’s bad debt before the takeover. Therefore, the net profit for 2003 did not increase by 50%, as had been internally forecasted, but remained at 1.73 million Euros, about the same amount than the 1.78 million Euros of profit in the previous year. Positive development expected in 2004! For the current fiscal year 2004, the officers confirmed their forcast of 100 million Euros of revenue and a profit of over 1.00 Euro per share. With the consolidation of OneTel through the entire fiscal year, the revenue will increase to over 80 million Euros. The internal growth will reach about 25%, which will be achieved through the redevelopment of the wholesale business, as well as through different measures planned for organic growth. The forcasted profit after taxes of 10 million Euros is based on a cost structure like the one 3U had before the takeover of OneTel in 2003, cost structure which will be reached again after the integration of OneTel is completed. Therefore the expected profit after taxes is about 10% of the revenue. On 12/31/2003, the company possessed liquid and near-liquid assets of about 55.5 million Euros, or about 6 Euros per share. In addition, the securities include silent reserves of about 4 million Euros. The officers are working towards using those assets for further acquisitions, which would have a positive impact on profits. The annual report can be downloaded online at http://www.uuu.de/download/UUUJ03D.pdf For further information, please contact: 3U TELECOM AG Axel Becker Phone : +49 (6421) 999 0 Fax : +49 (6421) 999 1111 Email : boerse@uuu.de Internet: http://www.uuu.de end of ad-hoc-announcement (c)DGAP 15.03.2004 ——————————————————————————– WKN: 516790; ISIN: DE0005167902; Index: NEMAX 50 Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, Hannover und Stuttgart 150709 Mär 04