Mobilcom AG
MobilCom AG english
Break Even already achieved in the first quarter
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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The mobilcom Group has achieved an important milestone of its restructuring plan
by breaking even earlier than expected: although only the first quarter of
2003, the Company already shows breakeven earnings before interest and taxes
(EBIT) of Euro0.1m (Q4 2002 without UMTS: -Euro70.7m) and slightly positive
group earnings of Euro0.5m (Q4 2002: -Euro289.1m ). Earnings before interest,
taxes and depreciation (EBITDA) are already clearly positive and stand at
Euro18.8m (Q4 2002 without UMTS: -Euro21.7m). Due to the debt discharge by
France Télécom in the first quarter, the Group now shows net assets of Euro48.9m
(Q4 2002: ?Euro6.955bn). With an equity ratio of 25.4% and liquid assets of
Euro223.2m (Q4 2002: Euro199.8m), the financing of the recapitalization of the
mobilcom Group rests on a solid foundation. The drastic reduction in losses in
the wireless service provider business was a decisive factor for the positive
development of earnings. In this business area, the loss on an EBITDA basis was
cut from -Euro32.6m in the fourth quarter of 2002 to -Euro5.2m in the first
quarter of 2003. In the business area Fixed Line/Internet, the EBITDA improved
to Euro24.0m (Q4 2002: Euro17.2m). As a consequence of the strict budget and
liquidity orientation, turnover (Euro452.9m) remained below the level of the
previous quarter (Euro499.7m). It must be taken into account here that mobilcom
pursued the strategy ‘profitability before market share’ and aimed at more
favourable earnings instead of growth in quantity in order to secure the long-
term success of the company.
end of ad-hoc-announcement (c)DGAP 14.05.2003
Issuer’s information/explanatory remarks concerning this ad-hoc-announcement:
Q1 / 2003 Q4 / 2002 Q1 / 2002
Employees end of period 3,462 4,752 5,494
Revenue (Euro m) 453 499.7 514.3
Service Provider 321 357 350
Fixed Line / Internet 132 142 149
EBITDA (Eurom)* 18.8 61.0 -120.7
EBITDA (Eurom) excl. UMTS 18.8 -21.7 -26.8
Service Provider -5.2 -32.6 -21.5
Fixed Line / Internet 24.0 17.2 18.1
UMTS 0 82.7 -93.9
EBIT (Eurom) 0.1 6.5 -16.1
EBIT (Eurom) excl. UMTS 0.1 -70.7 -59.4
Service Provider -14.2 -38.0 -36.7
Fixed Line / Internet 14.3 2.5 6.6
UMTS 84.8 77.2 -100.7
Earnings per share (Euro) 0.01 -4.40 -2.63
Net debt (Eurom)** +48.9 -6,955.2 6,366.8
Cash and cash equivalents (Eurom) 223.2 199.9 163.5
Equity Ratio in % 25.4 3.9 32.1
Operating income 0.5 0.5 -116.4
*In calculating EBITDA and EBIT in the first quarter of 2003, the interest
expenses in the amount of Euro84.8m borne by France Télécom and shown under
“Other operating income” were included with the interest expenses Without this
adjustment, reasonable from a business point of view, the EBITDA and EBIT would
have correspondingly been shown to be Euro84.8m higher.
**Total of the bank liabilities and the pension provisions, less liquid assets
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WKN: 662240; ISIN: DE0006622400; Index: TecDAX, NEMAX 50
Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin-
Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart; EUREX
140729 Mai 03
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