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PrimaCom AG

euro adhoc: PrimaCom AG
Quarterly or Semiannual Financial Statements / PRIMACOM REPORTS RESULTS FOR THE SECOND QUARTER AND FIRST SIX MONTHS OF 2005

  Disclosure announcement transmitted by euro adhoc.
  The issuer is responsible for the content of this announcement.
16.08.2005
PrimaCom reports further improved consolidated revenues for the
second quarter and first six months 2005.
For second quarter ended June 30, 2005, revenues reached Euro 56.0
million, a 7.3 percent increase over the second quarter ended June
30, 2004.
Operating profit decreased due to extraordinary expenses of financial
restructuring to Euro 1.8 million in the second quarter of 2005
compared with Euro 6.2 million in the second quarter of 2004.
EBITDA for the second quarter of 2005 fell to Euro 22.9 million, a
15.0 percent decrease compared with second quarter 2004 EBITDA.
In the second quarter of 2005, EBITDA and operating profit was
negatively impacted by the high-level of Euro 6.1 million
professional fees, related to the ongoing efforts to achieve a
financial restructuring of the Company. Of the Euro 6.1 million, Euro
5.9 million relates to the indemnification by PrimaCom, under the
Senior and Second Secured Facility agreements, of costs incurred by
the respective bank groups for their legal and accounting advice,
together with the corresponding costs of PrimaCom’s own lawyers.
Net loss for the second quarter of 2005 was Euro 31.1 million
compared with a net loss of Euro 26.1 million for the second quarter
of 2004.
For first six months ended June 30, 2005, revenues reached Euro 110.2
million, a 6.8 percent increase over the first six months ended June
30, 2004.
Operating profit decreased, due to extraordinary expenses of
financial restructuring to Euro 5.7 million in the first six months
of 2005 compared with Euro 11.6 million in the first six months of
2004.
EBITDA for the first six months of 2005 fell to Euro 48.1 million, a
9.6 percent decrease compared with first six months 2004 EBITDA.
In the first six months of 2005, EBITDA and operating profit was
negatively impacted by the high-level of Euro 9.1 million
professional fees, related to the ongoing efforts to achieve a
financial restructuring of the Company. Of the Euro 9.1 million, Euro
8.8 million relates to the indemnification by PrimaCom, under the
Senior and Second Secured Facility agreements, of costs incurred by
the respective bank groups for their legal and accounting advice,
together with the corresponding costs of PrimaCom’s own lawyers.
Net loss for the first six months of 2005 was Euro 60.1 million
compared with a net loss of Euro 52.1 million for the first six
months of 2004.
Revenue generating units increased by 28.470 or 2.0 per cent from
1,420,339 at June 30, 2004 to 1,448,809 at June 30, 2005, with a
decline in analog customers of 1.7 per cent being offset by
substantial growth in both Internet and telephony customers.
PrimaCom continues to focus on revenue improvements, cost reduction
management and profitability improvements and actively pursue
end of announcement                               euro adhoc 16.08.2005 15:44:59

Further inquiry note:

PrimaCom Investor Relations
Telefon: +49(0)6131 944 522
E-Mail: investor@primacom.de

Branche: Telecommunications Equipment
ISIN: DE0006259104
WKN: 625910
Index: General Standard
Börsen: Frankfurter Wertpapierbörse / regulated dealing
Berliner Wertpapierbörse / free trade
Hamburger Wertpapierbörse / free trade
Baden-Württembergische Wertpapierbörse / free trade
Börse Düsseldorf / free trade
Niedersächsische Börse zu Hannover / free trade
Bayerische Börse / free trade
Bremer Wertpapierbörse (BWB) / free trade

Plus de actualités: PrimaCom AG
Plus de actualités: PrimaCom AG