euro adhoc: feratel media technologies AG
Quarterly or Semiannual Financial Statements
Operative result in first half-year up 31%, EBITDA improved by 60% Positive developments in sales and earnings in Austria and Switzerland (E)
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
For the feratel media technologies AG e-tourism and media group, which is quoted on the Prime Market of the Vienna Stock Exchange, the first half of financial 2002/2003 saw a repeat of the positive developments reported for the first quarter on the Austrian market, with a twin-digit increase in sales achieved once again. For Switzerland, too, a satisfactory performance can be reported in spite of the more difficult market situation there. In Germany, on the other hand, the sluggish economy and greatly reduced capital spending on the part of the public authorities are having a negative impact on the trading position.
In the first half of financial 2002/03, the group reported an 8.7% increase in operating revenues to EUR 8.2 million, while consolidated group sales improved by 1.4% from EUR 7.0 million to EUR 7.1 million. The difference in growth between operating revenues and sales derives from such factors as advance deliveries on sales not yet billed. The feratel-subsidiary Tourismus Service GmbH reports a write-off totalling TEUR 440 for uncollectible receivables. The loss was compensated by retransferring the same amount from accruals. Other operating income and other operating expenses rose accordingly.
Positive developments can be reported with regard to results, with the operative result (EBIT) up 31% in the period-to-period comparison, and EBITDA up 60%, EBIT rose from EUR -1.97 million to EUR -1.37 million. The improvement in EBITDA was from TEUR -320.7 in the first half of financial 2001/02 to TEUR -128.6. As stated in every half-yearly report from feratel, it should be noted that the key Telecommunications division does the major share of its business in the second half of the financial year, whereas expenditures are distributed more or less uniformly over the full twelve-month period. For that reason, the second half of the year traditionally makes a significantly bigger contribution to the year-end result than the first half.
In spite of the difficult economic situation, feratel is looking forward to continued consolidation of the companys performance in the second half of financial 2002/03 and a further improvement in terms of results. The measures now in place to reduce costs in Germany are starting to generate measurable results. At the present time, feratels goal of paying a dividend for financial 2002/03 must be considered realistic.
~ Consolidated Balance Sheet (in TEUR)
31.10.2002 30.04.2002
Assets Non-current assets 13,312.4 13,776.6 Deferred tax assets 2,051.9 2,354.6 Non-current receivables 0.0 330.6 Current assets and prepayments 17,435.4 20,195.4
Liabilities Shareholders equity 21,172.8 22,642.1 Minority interest 130.9 190.8 Long-term liabilities 572.4 514.6 Deferred tax liabilities 0.0 196.3 Short-term liabilities, accruals and deferred income 10,923.6 13,113.4
Balance Sheet Total 32,799.7 36,657.2
Consolidated Income Statement (in TEUR)
1st half year 2002/2003 1st half year 2001/2002
Sales 7,094.9 7,000.3 Income from operations 8,244.6 7,582.8 EBIT -1,369.3 -1,973.9 EBT -1,378.3 -1,947.4 EBITDA -128.6 -320.7 ~
end of announcement euro adhoc 20.12.2002
Further inquiry note:
For further questions please contact: Martin Fritsch feratel media technologies AG,
Maria-Theresien-Straße 8, A-6020 Innsbruck, Phone: +43(0)512/7280-0, Fax: +43(09512/7280-80, E-Mail:
martin.fritsch@feratel.com
Branche: Tourism & Leisure
ISIN: AT0000737804
WKN: 073780
Index: ATX Prime, ViDX, WBI
Börsen: Baden-Württembergische Wertpapierbörse / free trade
Bayerische Börse / free trade
Berliner Wertpapierbörse / free trade
Frankfurter Wertpapierbörse / free trade
Wiener Börse AG / official dealing