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feratel media technologies AG

euro adhoc: feratel media technologies AG
Annual Reports
sales in financial 2001/2002 increased by 22%, EBITDA before non-recurrent restructuring measures improved by 20% to EUR 2.3 million, distribution of dividend planned for 2002/2003 (E)

Disclosure announcement transmitted by euro adhoc. The issuer is
responsible for the content of this announcement.
Growth course continued:
In the financial year 2001/2002 (1 May 2001 to 30 April 2002),
feratel media technologies AG, which is quoted at the prime market of
the Vienna Stock Exchange, was able to continue its growth course.
Sales increased by 22% from EUR 14.9 million to EUR 18.2 million and
operational output also improved by 22% from EUR 15.9 million to EUR
19.3 million.
Developments in the Telecom sector have been positive, recording an
increase in sales by 14% to EUR 7.4 million. With sales totalling EUR
9.3 million, the Information and Reservation Systems sector also
produced a double-digit growth of 31%. Despite an increase in sales
by 15% to EUR 1.5 million, the results in the Media division were
below expectations. Due to the delay in the introduction of new
mobile communication technologies and the stagnation in Internet
content sales, the marketing of tourist-specific contents failed to
meet the targets defined by the rather optimistic forecasts.
Future results relieved by one-off extraordinary depreciation on
goodwill:
Given the extremely uncertain mood on the content market, feratel’s
executive board  - making use of the available spectrum of
measurements and applying a prudent accounting policy - decided to
recognise a non-recurrent extraordinary depreciation on goodwill of
approximately EUR 12.5 in the financial statements for 2001/2002.
This non-recurrent depreciation on goodwill is not cash-effective and
neither influences the company’s operative business nor its
liquidity. It merely constitutes a measure implemented for reporting
purposes, which not only enables feratel to ease the burden on future
results but also creates additional positive tax effects for the
company and enhances transparency for investors.
Clearly positive EBITDA and EBT adjusted for non-recurring effects: 
The group’s EBITDA before non-recurrent restructuring measures in the
2001/2002 business year amounted to EUR 2.3 million compared with EUR
1.9 million in the year before, equalling an increase of 20%. Due to
the high level of ordinary depreciation, EBT before depreciation on
goodwill and non-recurrent restructuring measures was slightly below
last year’s result and amounted to TEUR 977 compared with TEUR 990 in
the previous business year.
Outlook: 
In the current business year, feratel is making efforts to
consolidate and expand its leadership in its core markets of Austria,
Germany and Switzerland. In the weather cams and information and
reservation system sector, the company aims at achieving further
geographical expansion and at securing its technology and know-how
leadership in the long term.
On the whole, the executive board expects a very favourable
development for the business year 2002/2003. Goals include a further
substantial increase in sales and an improvement of the company’s
operating results. The board also plans to pay a dividend for the
current business year.
Consolidated Balance Sheet (in TEUR)
~Assets                         30.04.2002     30.04.2001
Non-current assets               13,776.6        27,064.4
Deferred taxes                    2,354.6         1,633.2
Non-current receivables             330.6		         
Current assets and prepaid       20,195.4        19,630.4 
expenses
Liabilities
Shareholders’ equity             22,642.1        36,012.1
Minority interests                  190.8           337.6
Long-term liabilities	            514.6         2,563.5
Deferred tax provisions             196.3           240.6
Short-term liabilities and       13,113.4         9,174.2
deferred income
Balance Sheet Total              36,657.2        48,328.0
Consolidated Income Statement (in TEUR)
2001/2002       2000/2001
Sales                           18,170.2        14,877.4
Operational output              19,342.1        15,897.9
EBIT before depreciation on        617.1           767.7
goodwill and non-recurring positions
EBT before depreciation on         977.0           990.1
goodwill and non-recurring positions
EBIT before                       -727.6	     1.2
non-recurring positions
EBIT after                     -14,346.4             1.2
non-recurring positions
EBT after                      -14,124.0	   177.4
non-recurring positions
EBITDA before                    2,314.3         1,934.4
non-recurring positions~
end of announcement        euro adhoc 19.07.2002

Further inquiry note:

Martin Fritsch, feratel media technologies AG, Maria-Thresien-Straße 8, A-6020 Innsbruck,
Phone: +43(0)512/7280-0, Fax: +43(0)512/7280-80, e-mail: martin.fritsch@feratel.com

Branche: Tourism & Leisure
ISIN: AT0000737804
WKN: 73780
Index: ATX Prime, ViDX, WBI
Börsen: Baden-Württembergische Wertpapierbörse / free trade
Bayerische Börse / free trade
Berliner Wertpapierbörse / free trade
Frankfurter Wertpapierbörse / free trade
Wiener Börse AG / official dealing

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