euro adhoc: WEB.DE AG
Quarterly or Semiannual Financial Statements / WEB.DE: 42% Revenue Increase and Net Profit in First Half Year 2003 (E)

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WEB.DE AG, Karlsruhe, accounts for record revenues and positive cash flow in a highly satisfactory and profitable first half year 2003.

During the first half year 2003 WEB.DE generated revenues of EUR 15.2 million (+42%) versus EUR 10.7 million in the first half of the previous year. During Q2/2003 revenues increased from EUR 5.9 million in Q2/2002 by 36% to EUR 7.9 million. The gross profit rose in Q2/2003 to EUR 5.9 million (y-o-y); during the first half year 2003 it increased by 46% to EUR 11.4 million, with a gross margin of 75% against 73% in the first half of the previous year. Consequently, WEB.DE develops positively.

The higher sales revenues as well as the lean operating expense basis have further strengthened WEB.DE’s earnings situation: The earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to EUR +1 million in Q2/2003; in the first half of 2003 they rose to EUR +2 million compared to EUR -4.0 million in the first half of 2002. In Q2/2003 the profit for the period amounted to EUR +0.3 million (Q2/2002: EUR -2.6 million). Referred to the first half year 2003, the company generated a profit of EUR +0.5 million versus a loss of EUR -6.1 million during the first half year 2002.

During the second quarter WEB.DE again achieved a positive cash flow of EUR 1.8 million. In the comparable prior year period it still amounted to EUR -2.3 million. Liquid funds amounted to EUR 99.3 million on the reporting date June 30, 2003; this corresponds to an increase of EUR +4.1 million compared to the end of period date June 30, 2002.

For the second half year 2003 WEB.DE expects, after a seasonally slower-growth summer quarter Q3/2003, a clear increase in sales revenues during the fourth quarter of 2003. WEB.DE confirms the growth course and expects a positive net income for the year as well as positive earnings before interest, tax, depreciation and amortization (EBITDA) for the full year 2003. In the Web-Telecommunications business segment, the focus will continue to be on the intensive development of the Com.Win product family both for retail and business customers, as already announced. A significant increase in revenues is expected from 2004 in this business segment - also from international licenses.

(in EURO M)                                                  HY1/03  HY1/02
Revenues                                                        15.2      10.7
Gross Profit                                                 11.4        7.8
Marketing and Advertising                            (5.5)    (7.2)
Research and Development                              (6.3)    (6.0)
Net Profit                                                      0.5      (6.1)
Earnings before Interest, Tax
Depreciation and Amortization (EBITDA)         2.0      (4.0)
Earnings per share (in EURO)                         0,01    (0.17)
Operating Cash Flow                                        3.4      (6,4)
Liquid Funds                                                  99.3      95.2
WEB.DE AG, Investor Relations, Richard Berg
tel. +49 (0)721.94329.2700, E-Mail rb@webde-ag.de

The complete report of WEB.DE AG can be downloaded on the Internet at http://webde-ag.de. ~

end of announcement            euro adhoc 24.07.2003

Further inquiry note: Richard Berg Tel. +49(0)721 94329 2700 E-Mail: rb@webde-ag.de

Branche: Software
ISIN:      DE0005296503
WKN:        529650
Index:    HDAX, Nemax 50, Prime Standard, TecDAX
Börsen:  Frankfurter Wertpapierbörse / regulated dealing
              Niedersächsische Börse zu Hannover / free trade
              Berliner Wertpapierbörse / free trade
              Bayerische Börse / free trade
              Hamburger Wertpapierbörse / free trade
              Bremer Wertpapierbörse (BWB) / free trade
              Börse Düsseldorf / free trade
              Baden-Württembergische Wertpapierbörse / free trade

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