PrimaCom AG i.I.
Ad hoc-Service: PrimaCom AG english
Ad hoc announcement processed and transmitted by DGAP.
The issuer has the sole responsibility of this announcement.
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PRIMACOM REPORTS 2000 RESULTS
MAINZ, GERMANY, March 29, 2001 – PrimaCom AG (Neuer Markt Frankfurt, “PRC”/ID
No. 625910; Nasdaq: PCAG) today reported its results for the year ended December
31, 2000.
PrimaCom and Subsidiaries Twelve Months 2000 As Reported
The Company’s results reflect the inclusion of the Multikabel acquisition as of
October 1, 2000.
For the 2000 twelve-month period, revenues increased 17.3% to EUR124.3 million
versus EUR106.0 million in the same period of 1999, primarily reflecting the
contributions of the acquisition of Multikabel in the Netherlands and several
acquisitions in Germany in both 1999 and 2000, rate increases for basic analog
cable television services and the introduction in Germany of high-speed Internet
access and digital television services.
Adjusted earnings before extraordinary items, discontinued operations, minority
interests, net interest expense, taxes, depreciation, amortization, non-cash
compensation expense and non-operating expenses less non-operating income
(adjusted EBITDA) for the twelve months of 2000 amounted to EUR51.9 million
compared with EUR53.1 million in the same period a year ago, primarily
as a result of start-up costs related to the Company’s Broadband Services Group
as well as the inclusion of the accrual related to the possible charge of
copyright royalties for programming (GEMA accrual).
For the 2000 full-year period, the Company reported a net loss of EUR64.3
million, or EUR3.26 per basic and diluted share, compared with a net loss of
EUR29.3 million, or EUR1.53 per basic and diluted share, a year ago.
Included in the Company’s 2000 annual results was an extraordinary charge of
EUR8.2 million, or EUR0.41 per basic and diluted, primarily related to the
write-off of the unamortized portion of the fees and expenses of the Company’s
existing bank facility, which PrimaCom refinanced and cancelled on September 18,
2000, in conjunction with its acquisiton of Multikabel.
In conjunction with this release, PrimaCom will host a conference call, which
will be simultaneously broadcast live over the Internet. Management will host
the call, which is scheduled for today, March 29, at:5:00 PM (Germany); 4:00 PM
(London); 10:00 AM EST; 9:00 AM CST; 7:00 AM PST
Contact: Alexander Hoffmann, Director Investor Relations
TeL: 49 6131 / 9310-150, Fax: 49 6131 / 9310-149, investor@primacom.de
end of ad hoc announcement, (c) DGAP 29.03.2001
Issuer’s information/explanation remarks concerning this ad hoc announcement:
This press release includes forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 3934. Because these statements apply to future events, they are
subject to risks and uncertainties that could cause actual results to differ
materially, including PrimaCom ‘s absence of an operating history subsequent to
the Multikabel Acquisition and ist transformation to a broadband communications
company, its possible future need for additional financing, competitive factors
and restrictions imposed by existing and possible future debt instruments.
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WKN: 625910; Index: NEMAX 50
Listed: Neuer Markt Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf,
Hamburg, Hannover, München und Stuttgart
291418 Mär 01
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