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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)

Disclosure announcement transmitted by euro adhoc. The issuer is
responsible for the content of this announcement.
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

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