Media! AG
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MEDIA! AG: Turnover and results targets achieved in the 3rd quarter
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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MEDIA! AG: Turnover and results targets achieved in the 3rd quarter/
Restructuring in the final phase/ Financial stabilisation achieved
MEDIA! AG announces its business figures for the first 9 months of the FY 01/02
(1.1.-31.3.02). The 3rd quarter was characterised in particular by the resolute
continuation of the restructuring and recovery measures started at the end of
2001. At the focal point in this respect was the focusing on the profitable
business areas. In add. the operative increase in efficiency as well as the
streamlining of the participation portfolio were further points of main emphasis
of the plan of measures.The comprehensive cost savings have had a positive
effect on the operating result.The interim objective ‘financial stabilisation’
has been achieved.The turnover and earnings objectives for the 3rd quarter 01/02
have been achieved.Turnover in the period Jan. to March 02 was 5.6 Mil. EUR (PY
12.4 Mil. EUR).In the first 9 months the turnover thus amounts to 22.8 Mil. EUR
(PY 36.3 Mil. EUR). The result before tax and interest (EBIT) is -5.0 million
EUR for the 3rd quarter compared with 0.1 Mil. EUR in the same period of the
previous year. Overall an EBIT of -17.8 Mil EUR has been achieved in the first 9
months (PY 1.0 Mil. EUR) The result before interest, tax and depreciation
(EBITDA) after the first 9 months is -10.8 million EUR (PY 5.5 Mil. EUR).
Adjusted by the special influencing factors amounting to 7.8 Mil EUR the EBITDA
would have been -3.0 Mil. EUR.The group result is -16.5 Mil. EUR (PY 0.5 Mil.
EUR). The negative trend of the cashflow was stopped. After the first 9 months
in the prev. year the cashflow was -20,08 Mil. EUR. Know, the cashflow is -0,08
Mil. EUR. The restructuring has a negative effect on the results through one-off
effects and cost adaptation measures. These include amongst others book value
losses from the disposal of fixed assets, depreciation on participation book
values, from loans to group companies and depreciation to the lower going-
concern value on the floating assets,individual value corrections on accounts
receivables as well as the costs of the personnel adaptation. The restructuring
process has now been implemented to a major extent.As a result of the costs
savings achieved in other operating expenditure and in the personnel costs,the
operative break even point can be achieved in the following 6 months.
end of ad-hoc-announcement (c)DGAP 27.05.2002
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WKN: 663330; ISIN: DE0006633308; Index:
Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf,
Hamburg, Hannover, München und Stuttgart
271202 Mai 02
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