T-Online International AG
T-Online International AG
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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T-Online’s Growth Continues: Significant Rise in Operating Profit, EBITDA and
the Group Net Income in the First Half of 2004
“Rest of Europe” segment records a positive EBITDA for the first time
T-Online International AG continued its positive development in the first six
months of 2004. The company increased its group revenues by EUR104.9 million to
EUR988.2 million, a year-on-year increase of approx. 12%. T-Online’s revenue
from broadband tariffs also rose by 32.6% group-wide compared with the prior-
year period. The number of customers using DSL tariffs went up from 2.2 million
to 2.9 million.
In the “Germany segment” the amount of DSL customers grew from 2 million at the
end of the half year 2003, by 31% to 2.6 million at the end of the half year
2004. In the first six months of this year T-Online International AG was able to
gain 462,000 (previous year: 294,000) new DSL tariff customers. Thereof
181,000 were gained in the second quarter (previous year: 114,000).
The Average Revenue per User (ARPU) also continued to rise. In the group as a
whole, the average revenue from fixed and usage-based charges – the ratio known
as the “blended ARPU” – improved from EUR14.4 for the first half of 2003 to
EUR15.7 this year.
EBITDA and operating profit were both markedly up on the previous year. The
group EBITDA for the first two quarters rose from EUR153.6 million to EUR248.3*
million. The group operating profit rose from EUR120.4* million in the first
half of 2003 to EUR202.4 million in the first two quarters of 2004. The group
net income for the half-year was EUR167.6** million – after a loss of EUR71.4*
million in the same period last year.
In the “Rest of Europe” segment, which comprises the European subsidiaries, T-
Online registered a positive quarterly EBITDA for the first time since the
acquisition of the companies in France and Spain. The segment’s EBITDA totaled
EUR3.2 million in the second quarter. This means that the foreign companies have
already reached their target for this year.
Overview: Key financial data (Negative numbers in brackets)
Half year Half year Half year Half year
2004 2003* 2004 2003*
Millions of EUR Millions of EUR % %
Net revenues 988.2 883.3 100 100
Goods and services purchases 367.5 381.0 37.2 43.3
Gross margin 620.7 502.3 62.8 56.9
Other cost of sales 121.5 120.3 12.3 13.6
Selling costs 259.1 229.5 26.2 26.0
Administrative costs 48.1 50.1 4.9 5.7
Operating profit 202.4 120.4 20.5 13.6
EBITDA 248.3 153.6 25.1 17.4
Earnings before taxes 263.2 (2.8) 26.6 (0.3)
Group net income 167.6** (71.4) 17.0 (8.1)
Earnings per share EUR 0.14 (0.06) — —
*Without significant one-time influences 2003(t-info): a detailed description of
these significant one-time influences can be found on page 20 of the Group
interim report covering the period 1. January to 30. June 2004.
** Without significant one-time influences 2004: A one-time tax expense of 6
million Euros due to a tax rate change in Austria in 2004. Effects are listed in
the Group interim report covering the period 1. January to 30. June 2004.
end of ad-hoc-announcement (c)DGAP 11.08.2004
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WKN: 555770; ISIN: DE0005557706; Index: TecDAX, NEMAX 50
Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin-
Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart; Eurex
110713 Aug 04
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