feratel media technologies AG

euro adhoc: feratel media technologies AG
Annual Reports
For financial 2003/04, with net sales at EUR 15.7 million, feratel reports a clear increase in earnings before taxes from TEUR 60.9 to TEUR 653.9 Board again proposes payment of a dividend of 6

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"With net sales amounting to EUR 15.7 million* in the 2003/04 business year (after EUR 17.2 million in the previous year), the targeted significant improvement in the year-end result was achieved. Earnings before taxes (EBT) amounted to TEUR 653.9 compared with TEUR 60.9 for the previous year. Positive developments are also reported for operating cash flow, which stood at EUR 3.1 million after EUR 2.0 million in the previous year," says Markus Schröcksnadel, CEO at feratel media technologies AG.

In the year-end financial statements for feratel media technologies AG, which are drawn up in accordance with the Austrian accounting standard and form the basis for the payment of a dividend pursuant to the Austrian Stock Companies Act, the company reports retained earnings amounting to EUR 1.4 million (after TEUR 550.5 in the previous year). The feratel group has an equity ratio of 64 %. "On the basis of the healthy balance sheet situation of the group, we will again propose to the Annual General Meeting payment of a dividend of 6 eurocents this year," says Markus Schröcksnadel.

The downturn in sales in financial 2003/04 was largely due to the divestment of ticketing as a non-core activity, with deconsolidation effective per 31.1.2003. A number of nonrecurrent income items posted for the Telecommunications Division in the previous year also played a role, the CEO explains.

Thanks to the lean organizational structure created in the previous year, feratel had already prepared the ground for a significant improvement in its earnings situation. The measures taken in financial 2003/04 to further reduce costs included preparations for a merger between feratel’s two Swiss subsidiaries and various internal measures to optimize its organizational structure.

New markets and products feratel’s efforts on new markets are bearing fruit. With ten cameras now in place in Hungary, market entry has been completed there. The first successful projects have been implemented in the Netherlands, and feratel is also working to enter the market in France and Spain.

The development of new products and services contributed to positive business developments in the last financial year. Through rental agreements for NetPad, feratel’s portable wireless Internet terminal, a further niche market was established in the gambling sector. Positive developments are also reported with regard to feratel’s new incoming activities, with the company working as a tour operator and incoming partner for travel agencies throughout Europe.

Outlook In the Telecommunications Division, the emphasis in the 2004/05 business year will be on the continued development of feratel’s European camera network, with a special focus on western Switzerland, where TSR has been recruited as a new transmission partner. In the Information and Reservation Systems Division, feratel’s position is again to be strengthened in its core markets. In the Media Division, further growth is targeted in sales of the NetPad Internet terminals.

"Given positive developments in the general economic and geopolitical situation, feratel’s goal for the current business year is to achieve further improvements in terms of results in all divisions. That will enable feratel to again pay shareholders a dividend for financial 2004/05," says Markus Schröcksnadel in conclusion.

* For reasons of economy and practicability, this  balance sheet (1 Mai 2003 to 30 April 2004) was drawn up pursuant to the provisions of the Austrian Commercial Code (HGB), so that direct comparisons with the figures for the previous year according to IAS are not possible.

~                                                              2003/2004            2002/2003
                                                 Austrian Commercial Code        IAS
                                                                  Euro                      Euro

Sales                                                  15,740,199.85        17,180,416.96
Income from operations                        16,498,498.52        19,157,572.61

EBITDA                                                    1,839,631.93        2,351,869.65
EBIT                                                              2,565.61         -220,643.51
EBT                                                            653,903.67            60,983.28

Net operating cash flow                         3,059,385.73        2,010,124.93
Equity ratio                                                    64%                      69%

Proposed Dividend                                      6 Eurocents   6 Eurocents



end of announcement            euro adhoc 23.07.2004

Further inquiry note: Herr Fritsch Martin

Branche: Tourism & Leisure
ISIN:      AT0000737804
WKN:        073780
Index:    Standard Market Auction
Börsen:  Wiener Börse AG / official dealing
              Berliner Wertpapierbörse / free trade
              Bayerische Börse / free trade
              Baden-Württembergische Wertpapierbörse / free trade
              Frankfurter Wertpapierbörse / free trade

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