3U Holding AG — Capital/Financing Update 2005

Jul 28, 2005

News Details

Ad-hoc | 28 July 2005 10:00

3U TELECOM AG: LambdaNet realizes earnings improvement of 30 mn EUR until 2011

Ad hoc announcement §15 WpHG Contractual rearrangement 3U TELECOM AG: LambdaNet realizes earnings improvement of 30 mn EUR until 2011 Ad hoc announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. —————————————————————————— Marburg, July 28th 2005. The subsidiary of 3U TELECOM AG, LambdaNet Communications Germany AG has rearranged the contractual relations with its fiber supplier GasLINE, based on the Term Sheet signed on May 9th 2005. The committees already approved of the rearrangement, the creditor banks are expected to do so shortly. Retroactive to January 1st 2005 for the entire contract period until the end of 2009 the leasing expenses including interest payments are reduced annually by approximately 3.5 million EUR and afterwards until 2011 annually by approximately 2.5 million EUR. For the convertible bond of 10.48 million EUR, shown in LambdaNet’s balance sheet, the creditor GasLINE waives a repayment of 7.86 million EUR in favor of LambdaNet. The remainder of 2.62 million EUR is to be paid by LambdaNet until the end of 2006 and can be provided by LambdaNet’s operating cash flow. This agreement will improve both earnings result and the cash position of the 3U Group by more than 30 million EUR until the end of 2011 compared to medium term business planning. By the realized price reduction, the value of LambdaNet and thus the value of the 3U Group rises significantly. In 2005, the partial waiver for the convertible bond and the annual cost savings lead to an earnings improvement of the 3U Group of more than 10 million EUR. Due to the agreement, and according to IFRS the 3U Group forecasts an increase in EBITDA of 50% for the full year compared to the previous year as well as a single digit million net loss (net loss 2004: 29.15 million EUR). Considering the recent business development 3U TELECOM AG continues to expect an increase in sales of at least 10% compared to the previous year. Contact: 3U TELECOM AG Ulrich Wiehle Neue Kasseler Str. 62F 35039 Marburg Tel: +49 (0)6421 – 999 1200 Fax: +49 (0)6421 – 999 1111 E-mail: wiehle@3u.net Web: http://www.3u.net 3U TELECOM AG Neue Kasseler Str. 62 F 35039 Marburg Deutschland ISIN: DE0005167902 WKN: 516790 Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, Hannover und Stuttgart End of ad hoc announcement (c)DGAP 28.07.2005 281000 Jul 05