euro adhoc: PrimaCom AG
Quarterly or Semiannual Financial
Statements
PRIMACOM REPORTS RESULTS FOR THE FIRST QUARTER OF 2005
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
19.05.2005
PrimaCom reports further improved consolidated revenues for the first quarter 2005.
For first quarter ended March 31, 2005, revenues reached Euro 54.3 million, a 6.2 percent increase over the first quarter ended March 31, 2004.
Operating profit decreased, due to extraordinary expenses of financial restructuring to Euro 3.9 million in the first quarter of 2005 compared with Euro 5.5 million in the first quarter of 2004.
EBITDA for the first quarter of 2005 fell to Euro 25.2 million, a 4.0 percent decrease compared with first quarter 2004 EBITDA.
In the first quarter of 2005, EBITDA and operating profit was negatively impacted by the high-level of Euro 3.0 million professional fees, related to the ongoing efforts to achieve a financial restructuring of the Company. Of the Euro 3.0 million, Euro 2.8 million relates to the indemnification by PrimaCom, under the Senior and Second Secured Facility agreements, of costs incurred by the respective bank groups for their legal and accounting advice, together with the corresponding costs of PrimaComs own lawyers.
Net loss for the first quarter of 2005 was Euro 29.0 million compared with a net loss of Euro 25.9 million for the first quarter of 2004.
Revenue generating units increased by 33,804 or 2.4 per cent from 1,405,086 at March 31, 2004 to 1,438,890 at March 31, 2005, with a decline in analog customers of 2.0 per cent being offset by substantial growth in both Internet and telephony customers.
PrimaCom continues to focus on revenue improvements, cost reduction management and profitability improvements and actively pursues all opportunities to reorganise its debt and equity structure.
end of announcement euro adhoc 19.05.2005 13:50:15
Further inquiry note:
PrimaCom AG
Investor Relations
T.: +49(0)6131 944 522
E-Mail: investor@primacom.de
Branche: Telecommunications Equipment
ISIN: DE0006259104
WKN: 625910
Index: General Standard, CDAX, Technologie All Share
Börsen: Frankfurter Wertpapierbörse / regulated dealing
Berliner Wertpapierbörse / free trade
Hamburger Wertpapierbörse / free trade
Baden-Württembergische Wertpapierbörse / free trade
Börse Düsseldorf / free trade
Niedersächsische Börse zu Hannover / free trade
Bayerische Börse / free trade
Bremer Wertpapierbörse (BWB) / free trade