ComBOTS AG

euro adhoc: ComBOTS AG
Financial Figures/Balance Sheet
Ad-hoc disclosure in accordance with § 15 WpHG (German Securities Trading Act): ComBOTS AG with EUR 273.1 million net income for FY 2005 - current liquid asset value of more than EUR 450 million

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16.03.2006

Karlsruhe, March 16, 2006. ComBOTS AG reports for FY 2005 a record result on a full year basis, achieved thanks to the transaction with the United Internet Group completed in 2005. Financial statements have been prepared in accordance with IFRS for the first time. At today’s financial press conference the Group presents a profit of EUR 273.1 million (PY: EUR -3.3 million). As of December 31, 2005 the Group owned liquid assets of EUR 439 million; this corresponded to EUR 12.24 per traded share. Following the contribution of the entire Internet portal business to the United Internet Group, ComBOTS has been focussing entirely on Personal Digital Communication since Q4/2005. The financial statements strongly reflect this strategic positioning of the Group.

In the wake of the alliance with United Internet, ComBOTS AG had an inflow of EUR 200 million in cash and 5.8 million shares corresponding to a shareholding of 9.31% in United Internet AG. As of December 31, 2005 this translated to an equivalent of EUR 387 million and hence EUR 54 million more than initially assumed on the announcement of the alliance (value as at March 16, 2005: EUR 333 million). For 2005 a positive result of EUR 286 million from discontinued operations is reported. This figure takes into account taxes as well as costs incurred in connection with the transaction and migration as well as the result of the portal business until the transfer effective September 30, 2005. During the first three quarters the portal generated revenues of EUR 41.2 million with an EBITDA of EUR 13.4 million. In this way the business is contributing its extraordinary revenue and earnings momentum, which had been continuing over several years, to the newly formed market leader in the German portal and Internet services business constituted together with United Internet in the fourth quarter of 2005. Consequently, ComBOTS continues to directly participate in the rapid revenue and earnings growth of the new number one in the German Internet business.

The result from continued operations of EUR -12.8 million (PY EUR -9.0 million) is shaped by the enormous efforts of the company in research and development for the ComBOTS® product, to be launched on July 12, 2006. The R&D expenditure amounted in FY 2005 to EUR 13.1 million (PY: EUR 7.7 million) and reflects the objective of the company to bring to market maturity this highly innovative product developed for worldwide marketing. In 2005 alone 21 new patent applications were filed which means that the company now holds 94 international patents and patent applications. In the run-up to the launch of ComBOTS® Group revenues (EUR 0.6 million) and Gross profit for 2005 (EUR 0.5 million) still play a subordinate role.

Considering the imminent launch of the ComBOTS® right before this year’s Annual Shareholder Meeting as well as the unpredictable finance requirements involved required for an international expansion, the Executive Board has proposed to the Supervisory Board to carry forward the retained earnings on new accounts. The Supervisory Board has approved this profit allocation proposal. Driven by the positive appreciation of the equity stake in United Internet AG held as backing for the strategic alliance, the liquid asset value per share reaches currently approx. EUR 13 per share (in aggregate, more than EUR 450 million). Therefore, prior to the launch of ComBOTS® the share price reflects neither the investments over the past three years in product, organization and technology nor the enormous market potential of Personal Digital Communication, but merely the level of the underlying liquid asset value. The Executive Board is convinced that it will be able to further increase the shareholder value through the strategy which is being implemented, combined with the goal to become the world market leadership in the field of Personal Digital Communication.

Appendix: Table

in mln. Euro                                 2005      2004
Revenues                                         0.6        0.7
Cost of Sales                                -0.1      -0.2
Gross profit                                  0.5        0.5
Marketing + Advertising                -0.7      -0.6
General administration costs        -4.0      -1.6
Research + Development                -13.1      -7.7
Operating result                         -17.3      -9.3
Result continued operations        -12.8      -9.0
Result discontinued operations  285.9        5.7
Net result for the year              273.1      -3.3
Liquid funds                                439.0    109.0
Shareholders' equity                  428.9    125.5
Balance sheet total                    476.7    156.4

Contact: ComBOTS AG Silvia Teschner Investor Relations Tel.:  +49 (0)721 5160 2701 Fax:    +49 (0)721 5160 2702 eMail: silvia.teschner@combots.com

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ots Originaltext: ComBOTS AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:
Silvia Teschner
Investor Relations
Tel.:  +49 (0)721 5160 2701
Fax:    +49 (0)721 5160 2702
eMail: silvia.teschner@combots.com

Branche: Online
ISIN:      DE000CMBT111
WKN:        CMBT11
Index:    TecDAX, Midcap Market Index, HDAX, Prime All Share, CDAX
Börsen:  Frankfurter Wertpapierbörse / regulated dealing/prime
              standard
              Börse Berlin-Bremen / 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



Weitere Meldungen: ComBOTS AG

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