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Abonner WIGE MEDIA AG

WIGE MEDIA AG

euro adhoc: WIGE MEDIA AG
Quarterly or Semiannual Financial Statements
Positive second quarter 2002 - Program of consolidation and increased efficiency bears fruit - WIGE MEDIA AG on course to renewed profitability (E)

Disclosure announcement transmitted by euro adhoc. The issuer is
responsible for the content of this announcement.
The Executive Board of WIGE MEDIA AG today published the mid-year
report 2002 of the SMAX listed company. According to the company, the
positive sales performance achieved in the first quarter also carried
through to the second quarter of 2002. In the second quarter 2002,
the Television and Communication segments recorded sales increases of
16.7% and 13.9% respectively compared to the same period last year.
The revenues of the IT & Media segment reached the level recorded in
the same quarter last year as planned. In the first six months of the
year overall, revenues rose by 5.1% compared to the first six months
of 2001.
As at June 30, 2002, EBITDA (Earnings Before Interest and Taxes +
Depreciation and Amortization) totaled ‘000 Euro 2,200 (prev. year:
‘000 Euro 1,250). In addition to the upturn in sales, the increase is
mainly attributable to the measures introduced last year in respect
of consolidation and improved efficiency. Personnel expenses, for
instance, fell by 15.2% compared to the second quarter of 2001, while
the company was also able to reduce its other operating expenses by
26.7%.
The performance of the Television and IT & Media segments in the
first half year 2002 exceed the projections for the period of less
than one year. Due to current market developments, the performance of
the Communication segment did not quite reach the projected figures
for the period of less than one year. The positive seasonal influence
which took hold in the second quarter is expected to also carry
through to the third quarter. The positive effect of the
restructuring measures introduced last year will continue to bear
fruit in the coming quarters. As a result of these measures, the
company was able to significantly reduce its overall expenditure
level compared to last year, which will continue to have a positive
effect on profit in the coming quarters.
The Executive Board remains confident WIGE MEDIA’s directly
affiliated companies will generate a profit in the course of the
financial year 2002 and expects a positive group result at year-end
under the German Commercial Code, in spite of the difficult market
environment in both the sport sponsoring sector and the media
industry.
Further information: WIGE MEDIA AG, Corporate Communications, Dr.
Andrea Schleppinghoff, Tel: +49 2234/1831-180, Email:  info@wige.de
end of announcement        euro adhoc 29.08.2002

Further inquiry note:

Dr. Andrea Schleppinghoff +49(0)2234 1831 180 info@wige.de

Branche: Media
ISIN: DE0006347701
WKN: 634770
Index: SMAX
Börsen: Baden-Württembergische Wertpapierbörse / free trade
Bayerische Börse / free trade
Berliner Wertpapierbörse / free trade
Börse Düsseldorf / free trade
Bremer Wertpapierbörse (BWB) / free trade
Hamburger Wertpapierbörse / free trade
Niedersächsische Börse zu Hannover / free trade
Frankfurter Wertpapierbörse / official dealing