euro adhoc: PrimaCom AG
Quarterly or Semiannual Financial
Statements
PRIMACOM REPORTS IMPROVED REVENUES AND OPERATING RESULTS
FOR THE THIRD QUARTER AND FIRST NINE MONTHS OF 2004
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
Mainz, November 19, 2004: PrimaCom reports further improved consolidated revenues and operating results for the third quarter and first nine months of 2004.
Third quarter 2004 revenues reached Euro 53.5 million, an 8.0 percent increase over the third quarter 2003.
The company increased its operating profit to Euro 6.3 million in the third quarter of 2004 compared with Euro 5.9 million in the third quarter of 2003.
EBITDA for the third quarter of 2004 decreased to Euro 26.5 million, a 9.3 percent decrease over the third quarter 2003 EBITDA.
In the third quarter of 2003 operating profit was negatively impacted by special depreciation charges and positively impacted by certain reserve releases booked in the quarter. After adjusting for these onetime effects in 2003, operating profit and EBITDA in the third quarter of 2004 was significantly lower primarily due to the high level of professional fees related to the Companys ongoing efforts on financial restructuring.
Net loss for the third quarter of 2004 was Euro 27.5 million compared with a net loss of Euro 22.0 million for the third quarter of 2003.
Revenues increased 7.0 per cent to Euro 156.7 million for the first nine months of 2004 compared with Euro 146.5 million in the first nine months of 2003.
The operating profit for the first nine months of 2004 significantly improved to Euro 17.9 million from Euro 13.0 million for the first nine months of 2003.
EBITDA for the first nine months of 2004 increased to Euro 79.7 million, a 3.2 percent increase over the first nine months of 2003.
Net loss for the first nine months of 2004 increased to Euro 79.5 million, Euro 11.1 million higher than from the first nine months 2003.
Revenue generating units increased by 38,939 or 2.8 per cent from 1,383,231 at September 30, 2003 to 1,422,170 at September 30, 2004. The primary factor responsible for the growth was the 58.8 per cent or 43,615 increase in high-speed internet subscribers.
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 19.11.2004 14:36:44
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
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