3U Holding AG — Earnings Release 2004

Aug 16, 2004

News Details

Ad-hoc | 16 August 2004 08:27

3U TELECOM reports half year figures

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– 3U TELECOM reports half year figures Marburg, August 16th 2004 – In the first half year of 2004 3U TELECOM has recorded sales of EUR 33.23 million, an increase of 29.2% in comparison to the same period last year (2003: EUR 25.72 million). Due to the first-time consolidation of the subsidiary LambdaNet as of April 1st 2004, total sales of the group rose to EUR 42.81 million. In the past six months of this year the former 3U group (excluding LambdaNet) discloses a net loss of minus EUR 9.29 million (previous year: net profit EUR 2.24 million). By including a net loss of LambdaNet of minus EUR 3.65 million the total net loss of the group as of June 30th 2004 amounts to minus EUR 12.94 million. This corresponds to a net loss per share of minus EUR 0.28. With an EBITDA of EUR 2.55 million the new group shows a positive operating result (previous year EUR 4.56 million). The net loss is on the one hand a result of lower margins due to an increasingly competitive environment. On the other hand and more importantly, based on an impairment test EUR 7.22 million extraordinary goodwill amortization and depreciation on other assets of the subsidiary OneTel had to be recorded. As a consequence of the half year figures, the executive board of 3U has implemented an action plan of five key points concerning organisational, operative and strategic shifts and restructuring. First results are expected to become visible within the second half of the fiscal year. A complete half year report is available for download on the company’s website http://www.3u.net. Contact: 3U TELECOM AG Michael Diegelmann Tel.: +49 (0)6421-999 1200 Fax: +49 (0)6421-999 1111 diegelmann@3u.net end of ad-hoc-announcement (c)DGAP 16.08.2004 Issuer’s information/explanatory remarks concerning this ad-hoc-announcement: The 5-point action plan introduced by the management mainly comprises the following measures: 1. Focused launch of new products (innovations) for further expanding the product range and for attracting new customers 2. Expansion of sales structures within the group for a sustainable market development 3. Integration of technical platforms for offering consistent products and for realizing further innovations 4. Creation of adequate management structures as part of a process organisation with powerful reporting tools 5. Integration of different subsidiaries as part of the group network for realizing synergy effects and securing current liquidity reserves These changes within the operative and strategic area have the objective to regain 3U’s earnings power. First results are expected to become visible within this fiscal year. Furthermore, long-term liabilities have increased due to the acquisition of LambdaNet as shown in the half year report. They include long-term leasing liabilities for the infrastructure, having a counterpart of leasing goods (infrastructure) as part of the fixed assets, totaling to EUR 32.23 million. Further liabilities comprise loans provided by banks, a supplier credit in form of a convertible bond as well as liabilities for rebuilding the infrastructure. Despite an increased amount of liabilities the company’s liquidity remains on a comfortable level, due to different maturities and the existence of a strong asset position. ——————————————————————————– WKN: 516790; ISIN: DE0005167902; Index: NEMAX 50 Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, Hannover und Stuttgart 160827 Aug 04