Sporttotal AG

Earnings Release • Nov 29, 2002

News Details

Ad-hoc | 29 November 2002 09:14

WIGE MEDIA AG english

WIGE MEDIA AG: EBITDA rose by 87.3 % Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– WIGE MEDIA AG continues Program of consolidation and increased efficiency successfully The Executive Board of WIGE MEDIA AG today published the Nine month report 2002. As at September 30, 2002, earnings before interest and taxes + deprecisation and amortization (EBITDA) totalled ‘000 EUR 5,164 (prev. year ‘000 EUR 2,757). As expected, the company was therefore able to maintain the positive trend in the third quarter as a result of the Program of consolidation and increased efficiency introduced last year, despite the slight decline in sales by 3.2 % compared to the same period last year. Personnel expenses fell by ‘000 EUR 947 compared to the same period last year (8,4%) and other operating expenses also were reduced by ‘000 EUR 1,762 (26.7%). The rise in EBITDA enabled the company to make up for the increase in depreciation, amortization and interest expenditure arising from investments made in 2001. As at September 30, 2002, income from ordinary business activities amounted to ‘000 EUR -783. It rose by ‘000 EUR 1,259 compared to last year (prev. year ‘000 EUR -2,042). In the third quarter 2002, WIGE MEDIA Group achieved income from ordinary business in the amount of ‘000 EUR 1,056 (prev. year ‘000 EUR -233). In the first nine months of 2002, the group accrued ‘000 EUR 3,965 from operating activities (prev. year ‘000 EUR 4,013). In doing so, the company was able to reduce its supplier liabilities by ‘000 EUR 2,296. WIGE MEDIA will resolutely carry through its cost cutting measures and therefore the positive effects on EBITDA and liquidity will continue for the remainder of the financial year. The Executive Board expect the directly affiliated companies to generate a profit at the end of the financial year 2002, resulting in a positive result for the year for WIGE MEDIA AG under the German Commercial Code. On the other hand, the company anticipates to record an operating loss in the consolidated accounts under IAS as a result of a shift in sales under long- term order output and valuation differences in the company’s fixed assets. Further information: WIGE MEDIA AG, Corporate Communications, Dr. Andrea Schleppinghoff, Tel.: 02234/1831-180, E-Mail: info@wige.de end of ad-hoc-announcement (c)DGAP 29.11.2002 ——————————————————————————– WKN: 634770; ISIN: DE0006347701; Index: Listed: Amtlicher Markt in Frankfurt (SMAX); Freiverkehr in Stuttgart, München, Berlin, Bremen, Hamburg, Hannover, Düsseldorf 290914 Nov 02