freenet AG

Earnings Release • Jul 17, 2002

News Details

Ad-hoc | 17 July 2002 08:00

freenet.de AG english

Q2/2002: freenet.de AG achieves EBITDA profitability; record revenues once again Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Q2/2002: freenet.de AG achieves EBITDA profitability; record revenues once again ·freenet.de achieves first-time positive consolidated EBITDA(IAS) – sooner than expected ·Record revenues: 9.67 million euro (+ 50 % over same quarter last year) ·Key growth drivers: advertising and e-commerce freenet.de AG, Hamburg – During the second-quarter, freenet.de AG achieved record revenues for the third time running. Revenues rose by 7 % over the previous quarter, from 9.01 million euro to 9.67 million euro – an increase of over 50 % compared to Q2/2001 (6.38 million euro). Thus, revenues for the first half of 2002 total 18.67 million euro (a 45 % increase over the 12.89 million euro generated in the first half of 2001). Advertising and e-commerce were the main revenue drivers, and for their part also registered new record revenues. Second-quarter advertising revenues doubled year on year – from 1.58 million euro to 3.16 million euro; revenues increased by 12 % over Q1/2002. e-commerce revenues also rose by 38 %, both over the same period last year, and over the previous quarter – from 1.54 to 2.13 million euro. Second-quarter connectivity revenues rose by 46 % year-on-year, from 2.85 million euro to 4.16 million euro (minus 7 % compared with Q1/2002) and accounted for 43 % of total second-quarter revenues. Compared with the previous quarter, B2B revenues were up by 18 %, to 216,000 euro. Based on this excellent revenue performance and resolute cost management, freenet.de AG already managed to achieve EBITDA(IAS) profitability for Q2/2002- half a year earlier than originally planned by the company’s management and expected by the capital market. Final figures are scheduled for publication on August 7, 2002. “People’s trust in the Neuer Markt has been shaken to its foundations. Today, we have demonstrated to the capital market that established, high-margin and high-growth business models with a high profit potential can and do prevail,” declared freenet.de AG CEO Eckhard Spoerr, adding that “this demands a fundamental revaluation of the stock.” The freenet.de AG is disclosing preliminary key financials on the course of business during Q2/2002 in this obligatory publication. The results quoted are based on the current state of knowledge. end of ad-hoc-announcement (c)DGAP 17.07.2002 ——————————————————————————– WKN: 579200; ISIN: DE0005792006; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, München, Stuttgart, Hannover 170800 Jul 02