euro adhoc: 3U TELECOM AG
Quarterly or Semiannual Financial Statements
Strong increase in profits for the first quarter 2003 (E)
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Strong increase in profits for the first quarter 2003. Optimistical outlook for the full year 2003.
3U TELECOM AG was able to significantly increase its profit margin during the 1. Quarter 2003 and clearly rise the profit in comparison to the results of Q1 2002 or Q4 2002 respectively.
The reported revenue was 13.78 Mio. EUR. The gross profit amounted for 4.01 Mio. EUR. Earnings before taxes, depreciation and amortisation were 2.61 Mio. EUR or 0.29 EUR per share. The group achieved pre-tax earnings (EBT) of 2.08 Mio. EUR or 0.23 EUR per share(US-GAAP).
Net profit after taxes jumped to 1.33 Mio. EUR (0.15 EUR/share). This being the best quarterly result in the company's history so far.
Most significantly this positive trend is recognised for the profit: The net income increased from 0.02 Mio. EUR in Q1 2002 to 0.92 Mio. EUR in Q2 2002 and from -0.28 Mio. EUR (influenced by a 1.5 Mio. EUR special write-off for a telecommunication license) to 1.12 Mio. EUR for Q4 2002.
The management board foresees an optimistic development for the rest of 2003 and believes the company will be able to further increase the profit.
The sum of all available liquid assets and short term investment securities is more than 56 Mio. EUR (6.14 EUR/share) as per 31.03.2003.
Foreign subsidiaries turning profitable.
The rise in profit for the 1. Quarter 2003 exceeded expectation. Reason for this amongst others was the positive development of the foreign subsidiaries who reduced their losses as planned. After the Austrian subsidiary already reached positive results during the year 2002 it was the French subsidiary who was able to deliver a positive contribution this time. As the year 2003 progresses, 3U expects other foreign subsidiaries to turn profitable, too.
The quarterly report for Q1 2003 is ready for download of the internet through the link http://www.3u.net/download/UUU103D.pdf .
end of announcement euro adhoc 20.05.2003
Further inquiry note:
3U TELECOM AG Mr. Axel Becker
Branche: Telecommunications Services
ISIN: DE0005167902
WKN: 516790
Index: Prime Standard
Börsen: Frankfurter Wertpapierbörse / regulated dealing
Niedersächsische Börse zu Hannover / free trade
Berliner Wertpapierbörse / free trade
Bayerische Börse / free trade
Hamburger Wertpapierbörse / free trade
Bremer Wertpapierbörse (BWB) / free trade
Börse Düsseldorf / free trade
Baden-Württembergische Wertpapierbörse / free trade