Mobilcom AG
MobilCom AG english
Q1/2002: MobilCom intensifies concentration on mobile business
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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As part of its restructuring as a UMTS network operator, MobilCom is
intensifying its concentration on mobile telephony. Fixed-line and Internet
activities are being bundled; excess capacity created during the boom years 1999
and 2000 is being corrected; and divisions lacking future potential are being
cut loose. With this organizational restructuring, MobilCom is adapting its
strengths – sales force, flexibility and competitiveness – to the mobile data
sector. In the first quarter of 2002, public debate on the partnership with
France Telecom impacted negatively on business operations. For example, the
launch of 01566-GPRS planned for February 2002 had to be postponed, requiring
the creation of accruals to the sum of Euro77.5 million. In total, special items
mainly linked to the controversy with the French partner cut profits by
Euro90.3 million. The company’s EBITDA including special items and UMTS start-up
costs was Euro-120.7 million (Euro-30.4 million without special items) compared
with Euro-34.8 million for Q1/2001. The figure for EBIT was Euro-160.1 million
compared with Euro-68.4 million for Q1/2001. Profit after tax was Euro-116
million compared with Euro-43.5 million for Q1/2001. Profit per share was Euro-
1.77 compared with Euro-0.67 for Q1/2001. Another reason for the current slump
in profits is the decline in network operator bonuses: In Q1/2001, these
accounted for 40 percent of turnover in mobile business, compared with just 13
percent in Q1/2002. This in turn is due to reduced market growth and the fact
that MobilCom as a UMTS network operator is becoming a serious competitor. In
the first quarter of 2002, MobilCom’s total turnover was Euro514.3 million
compared with Euro728.7 million in Q1/ 2001. The customer base grew to 9.0
million customers (compared to 7.3 million in Q1/2001), including 4.9 million
cellular customers. The market share of cellular contract customers remained
stable at 13.5 percent, with two thirds of all cellular customers committed to
long-term contracts. In terms of contract customers, MobilCom already occupies
third place among Germany’s future UMTS network operators.
end of ad-hoc-announcement (c)DGAP 14.05.2002
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WKN: 662240; ISIN: DE0006622400; Index: NEMAX 50
Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf,
Hamburg, Hannover, München und Stuttgart; EUREX
140745 Mai 02
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