euro adhoc: freenet.de AG
Quarterly or Semiannual Financial
Statements
freenet.de reports EBITDA of 49.52 million euro in first
three quarters of 2003 (E)
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
freenet.de reports EBITDA of 49.52 million euro in first three quarters of 2003 ·First effects from network extension evident in third quarter: 49.52 million euro EBITDA and 28.84 million euro EBT (both IAS, cumulated nine-months figures 2003) ·Group result of 21.73 million euro (IAS) for the first three quarters of 2003 ·Twice as many DSL customers at end of third quarter than during previous quarter: 44,000 customers
freenet.de AG / Hamburg - freenet.de AGs nine-months revenues (248.86 million euro) represent a significant year-on-year increase of over 760%; revenues for the same period last year totaled 28.84 million euro. EBITDA, or earnings before interest, taxes, depreciation and amortization rose to 49.52 million euro for the first nine months of the year; freenet.de generated 20.56 million euro of this in the third quarter alone. This represents an increase of nearly 1000% (959%) versus the first three quarters of 2002 (4.68 million euro). During the same period, earnings before taxes (EBT) amounted to 28.84 million euro - an upsurge of over 3.400% vs. the same period last year (0.82 million euro). After taxes, freenet.de shows group results of 21.73 million euro for the first nine months of the current year, as compared to a slight deficit of 0.26 million euro during the same period in 2002. "These figures serve to illustrate freenet.des tale of success, which began in 1999 with annual revenues of 3.48 million euro as a pure-play ISP. Today we are Germanys second-largest Internet/telecommunications company and show revenues of 248.86 million euro for the first nine months of 2003 alone," declared freenet.de AG CEO Eckhard Spoerr, commenting on freenet.des nine-months figures. In Internet access - where growth was somewhat stagnant due to reticent usage behavior during this years magnificently warm and beautiful summer - freenet.de AG generated total third-quarter revenues of 73,08 million euro. At the same time freenet.de AG cemented its clear No.2 position in the German Internet market and, with over 3.75 million access customers, nearly was on par with last quarters extremely high levels. In the DSL growth market, the number of users more than doubled vs. the previous quarter; the company had 44,000 DSL customers at the end of September 2003. For the fourth quarter 2003, freenet.de expects to further step up its customer recruitment rates, not least thanks to the renewed DSL price campaign launched at the beginning of the current (fourth) quarter. During Q3/2003, freenet.de increased its portal revenues slightly vs. the previous quarter, to 6.8 million euro; with over 5.6 million active members of its online service, it is a fixture on the German Internet and offers an extremely attractive platform for numerous eCommerce partners and advertisers. At 33.25 million euro, third-quarter revenues in the newly acquired voice telephony business were 7% below the revenues of the previous quarter. Customer acquisition in this segment will not be stepped up until after the completion of the "immediate investment" program launched directly following the takeover of the fixed-line business. In the B2B sector, freenet.de registered successful growth, with third-quarter revenues amounting to 2.0 million euro, a significant 41% increase over the previous quarter. Growth in this sector is due primarily to the Virtual Private Network (VPN) products offered to SMEs. ~ Q3/03 Q1-Q3/03 Q1-Q3/02 Q1-Q3/03 Q2/03 vs. Q1-Q3/02 Segment: Internet access 73,084 154,519 12,761 +1111% 76,403 Segment: Voice 33,254 69,003 - - 35,749 Segment: Portal 6,796 21,567 15,358 +40% 6,762 Segment: B2B services 2,000 3,775 718 +426% 1,420 Revenues 115,134 248,864 28,837 +763% 120,334 EBITDA 20,559 49,516 4,675 +959% 25,204 Earnings before taxes(EBT) 10,745 28,840 817 +3429% 15,517 Group result 6,368 21,733 -258 - 14,121 ~ Financials (IAS); in thousand euro / Source: freenet.de AG
end of announcement euro adhoc 10.11.2003
Further inquiry note:
Andreas Neumann
Tel.: +49 (0)40 51306 778
E-Mail: IR@freenet-ag.de
Branche: Online
ISIN: DE0005792006
WKN: 579200
Index: Prime Standard, TecDAX
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