QSC AG

Earnings Release • Mar 29, 2001

News Details

Ad-hoc | 29 March 2001 08:03

Ad hoc-Service: QS Communications AG engl

Ad-hoc Mitteilung übermittelt durch die DGAP. Für den Inhalt der Mitteilung ist allein der Emittent verantwortlich. —————————————————————————— QSC Annual Financial Statement for 2000: Sales and earnings on target Cologne, March 29, 2001. QSC AG (Neuer Markt: QSC; Nasdaq: QSCG) generated almost EUR 5 million in the past financial year, compared to EUR 1.6 million in 1999. During the course of the year, the company invested EUR 85.8 million in constructing its broadband network infrastructure in Germany’s 40 largest cities. Despite this substantial level of investment, as at December 31, 2000, QSC had cash and liquid assets of EUR 294.8 million. In line with projections, the company produced pre-tax earnings of minus EUR 89.2 million in its first full business year as a DSL provider (minus EUR 7.5 million in 1999). For the current financial year, QSC expects a significant boost in revenues to an estimated 38 to 46 million EUR. Operative earnings before tax, interest, depreciation and amortization (EBITDA) is expected to be in a range between minus 90 and minus 120 million EUR. The company’s plans are based on the assumption that break-even on an EBITDA basis will be reached in the course of 2003. QSC at a glance (all figures in EUR million) 1.1.-31.12.1999 1.1.-31.12.2000 Revenues 1.6 5.0 EBITDA -5,8 -79,4 Pre-tax earnings -7.5 -89.2 Investments 7.2 85.8 Liquid assets 137.2 294.8 Shareholders equity 130.1 339.1 This adhoc release includes forward-looking statements as such term is defined in the U.S. Private Securities Litigation Act of 1995. These forward-looking statements are based on managements current expectations and projections of future events and are subject to risks and uncertainties. Many factors could cause actual results to vary materially from future results expressed or implied by such forward-looking statements, including, but not limited to, changes in the competitive environment, changes in the rate of development and expansion of alternative broadband technologies and changes in the prices of such alternative broadband technologies, changes in government regulation, legal precedents or court decisions, relating, among other things, to line sharing, rent for co-location and unbundled local loops, the pricing and timely availability of leased lines, and other matters that might have an effect on our business, the timely development of value-added services, our ability to maintain and expand current marketing and distribution agreements and enter into new marketing and distribution agreements, our ability to receive additional financing if management planning targets are not met, the timely and complete payment of outstanding receivables from our distribution partners and resellers of QSC services and products, as well as the availability of sufficiently qualified employees. A complete list of the risks, uncertainties and other factors facing us can be found in our public reports and filings with the U.S. Securities and Exchange Commission. For further information: QSC AG Karl-Heinz Angsten Director Marketing & Communication Tel.: +49 (0)221/6698-280 Fax: +49 (0)221/6698 -289 Mail: karl-heinz.angsten@qsc.de Investor Relations partner of QSC AG Schumachers AG Dorothee Kagelmann Tel.: +49 (0)89/4892720 Fax: +49 (0)89/48927212 Mail: qsc@schumachers.net Ende der Mitteilung