Media! AG
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MEDIA! AG: Final negotiations on the financing concept
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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MEDIA! AG: Final negotiations on the financing concept
In the first nine months of the 2002/2003 financial year, consolidated sales at
MEDIA! AG, specialist for media and technology services, moved lower from EUR
22.8 million to EUR 21.0 million year-on-year (on a quarterly basis, EUR 7,7
million after EUR 5,6 million in the third quarter of the previous year).
However, the figures are comparable only to a limited extent. Firstly, the new
subsidiaries AVT MEDIA! GmbH and PROTEC MEDIA! GmbH have only been consolidated
since the last quarter. Secondly, part of the restructuring measures involved
the discontinuation of sales at MEDIA AG! generating low margins. In the wake of
the concentration of the profitable core business and rigorous cost savings,
EBIT in the first nine months improved from EUR -17.8 million to EUR -9.0
million, and on a quarterly basis from EUR -5.0 million to EUR -4.7 million.
After EUR -10.8 million in the equivalent period of the previous year, EBITDA of
EUR -3.9 million was posted (on a quarterly basis, EUR -2.8 million after EUR –
3.3 million). The consolidated net loss in the first nine months declined from
EUR -16.5 million to EUR -8.4 million, but on a quarterly basis it rose from EUR
-3.9 million to EUR -4.8 million. The result is negatively impacted by
provisions of EUR 2.8 million for risks originating in the past, EUR 2.0 million
of which in the past quarter. As at 31 March 2003, the company has equity
capital of EUR 6.9 million and when the partner loan from the main partner
M.K.B. has been transferred this will move up to EUR 7 million, representing an
equity ratio of approx. 35%. As of 31 March 2003, liquid funds totalled EUR 0.8
million after EUR 0.5 million on 30 June 2002. Currently, negotiations with pool
banks and additional lenders on a financing concept which includes the
extension of the bank lines expiring end of June 2003 until 31 March 2004, are
in the concluding phase. Should the negotiations not reach a successful
conclusion, the continued existence of MEDIA! AG and its participation companies
would no longer be assured.
Contact: MEDIA! AG, Thomas Diepenbruck, CFO, Tel.: +49 89 620111-217, Fax: +49
89 620111-513, eMail: invest@media-ag.com
end of ad-hoc-announcement (c)DGAP 30.05.2003
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WKN: 663330; ISIN: DE0006633308; Index:
Listed: Geregelter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin-Bremen, Düsseldorf, Hamburg, Hannover und Stuttgart
301227 Mai 03
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