feratel media technologies AG

euro adhoc: feratel media technologies AG
Quarterly or Semiannual Financial Statements
feratel: Sales increase of 34 percent in the 3rd quarter, EBITDA improved by over 80 percent, EBT by just under 60 percent on the same period last year (E)

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In the 3rd quarter (November 1 to January  31) of the fiscal year 2001/2002, the sales figures of the e-tourism and media group feratel media technologies AG, listed in the  specialist market of the Vienna Stock Exchange, rose by 34 percent to 6.4 million Euro compared with the same period of the preceding year. During the same period the operating performance increased to 6.7 million Euro. This increase is attributable both to organic growth and acquisitions. The plus 67 percent jump in sales  compared with  the 2nd quarter of the current financial year is partly also attributable to the fact that feratel records most of the proceeds from the telecommunication segment in the third and fourth quarters. "In all, the business development was satisfactory and resulted in the company’s by far most successful quarter both in terms of sales and in terms of profit", said Markus Schroecksnadel, feratel Chief Executive, delightedly.

The EBITDA showed an improvement of approximately 80 percent on the third quarter of the preceding year to 1.8 million Euro, while the quarterly EBIT more than doubled, amounting to 0.9 million Euro. The EBT before goodwill amortization amounted to 1.37 million Euro (versus 0.8 million Euro), the quarterly EBT, amounting to 0.96 million Euro (versus 0.6 million Euro), was clearly positive.

The result for the first three quarters of the current financial year is a sales increase of 47 percent to 13.4 million Euro and a 46 percent increase of the operating performance to 14.3 million Euro. The  EBITDA of the first three quarters, amounting to approximately 11 percent (versus 6 percent) of the sales, was 1.4 million Euro, more than double the amount of the preceding year.

Slowdown in Germany Whereas the Austrian tourist industry is looking back on an extremely successful winter season, and the Swiss tourist industry recorded slight losses due to the strong franc, the German tourist industry had  been affected noticeably by the negative economic environment in Germany. In the calendar year 2001, the number of overnight stays for German tourists decreased, for visitors from abroad even by 4.4 percent. Due to the bad general economic situation the public authorities, main customers of feratel’s in Germany, were forced to take austerity measures. The propensity to invest was extremely curbed,  and as a result the sales fell clearly behind the expected rates.

Continued high goodwill amortization The strong increase in goodwill amortizations - due to acquisitions - also showed a negative impact on the result. The accumulated EBT of the first three quarters, amounting to approximately minus 1 million Euro (versus  minus 0.3 million Euro before), was within the range of the managing board’s expectations.

Outlook feratel continues its expansion course. At present, preparations are being made for entering the markets  of central and southern Italy and France. Interesting projects could also crop up in Russia, Slovenia, and in the Arab countries.

"Despite the unfavorable overall market development in Europe and specifically the bad situation in Germany at present, feratel will continue to use potentials of growth and market occupancy, even if margin reductions must be accepted temporarily", said Markus Schroecksnadel. He said that from today’s standpoint a lower result than expected had to be anticipated due to the sluggish development in Germany, but nevertheless a clearly positive EBITDA above that of the preceding year could be expected. Mr. Schroecksnadel concluded by saying that the expected sales increase over last year’s level, a percentage within the attractive two-digit range, was well-secured.

Consolidated Balance Sheet at 31 January 2001 (in TEUR) (according to International Accounting Standards)

Assets
Non-current assets                    26.502,7
Deferred taxes                            1.581,5
Current assets and
prepaid expenses                        21.663,9

Liabilities
Shareholders´equity                  35.103,7
Minority interest                          295,8
Long-term liabilities                 2.691,7
Deferred tax liabilities                192,1
Short term liabilities
and deferred income                  11.464,8

Balance sheet total                  49.748,1

Consolidated income statement (in TEUR) (according to International Accounting Standards)

                      3rd Quartler 2001/2002    3rd Quarter 2000/2001
Sales                        6.419,8                              4.798,7
Operating revenues  6.669,2                              5.057,1
EBIT                            910,5                                 433,5
EBT                              957,2                                 606,2
Net profit/loss
for the period            463,4                                 276,0
EBITDA                      1.765,6                                 978,6

EBITA                        1.324,9                                 634,4
EBTA                         1.371,6                                 807,1

                      1-3 Quarter 2001/2002      1-3 Quarter 2000/2001
Sales                      13.420,1                                9.128,7
Operating revenues 14.252,0                                9.776,8
EBIT                        -1.063,4                                 -474,4
EBT                            -990,2                                 -254,7
Net profit/loss
for the period          -986,6                                 -270,0
EBITDA                      1.444,9                                  579,9

EBITA                          176,9                                 -132,4
EBTA                            250,1                                    87,3

end of announcement            euro adhoc 28.03.2002
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Further inquiry note: For further questions please contact: Mr. Martin Fritsch, Investor Relations, Telephone: 0512/7280-405, e-mail: martin.fritsch@feratel.com Ms. Evelyn Geiger, Telephone: 0512/7280-407, e-mail: evelyn.geiger@feratel.com

Branche:        Tourism & Leisure
ISIN:            AT0000737804
WKN:              73780
Börsen:         Baden-Württembergische Wertpapierbörse, Bayerische
Börse, Frankfurter Wertpapierbörse, Handelsüberwachung der
Berliner Wertpapierbörse, Wiener Börse AG



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