Broadnet AG
Broadnet AG: Broadnet publishes financial statements for the first half of 2006
Ad hoc announcement transmitted by DGAP – a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Ad hoc Announcement pursuant to § 15 of the WpHG (Securities Trading Act)
Broadnet publishes financial statements for the first half of 2006
Company again reports strong increase in sales revenues and continued trend
in earnings
– Broadnet reported revenues of EURO 24,754,000 in the first half of 2006
(Q2 2006: EURO 12,663,000), a 48% increase over the prior year figure
(1st half of 2005: EURO 16,739,000)
– EBITDA increased to EURO 2,894,000 during the January-June 2006 period.
This was more than double the amount reported for the same period last
year (first half of 2005: EURO 2,384,000; adjusted: EURO 1,347,000),
which was adjusted for a special item (EURO 1,037,000)
– EBITDA for Q2 2006 (EURO 1,388,000) was close to the strong level
reported for the first quarter of 2006
Hamburg, August 15, 2006 – Broadnet, a provider of Internet services
headquartered in Hamburg (listed under Prime Standard, ISIN DE0005490866),
reported sales revenues of EURO 24,754,000 during the first six months of
this fiscal year, compared with EURO 16,739,000 in the same period last
year. Thus, the Company was able to increase revenues by more than EURO 8
million over the level reported for the first half of 2005, representing a
jump in sales of nearly 48%. At the same time, the Company’s sales in the
second quarter of 2006 (EURO 12,663,000) were 5% higher than in the first
quarter of 2006 (EURO 12,091,000). Growth was driven by areas such as Voice
over IP and the VPN business; the Company’s positive trend in this segment
continued, although it was somewhat more restrained than in Q1 2006.
Operating income (EBITDA) in the first half of 2006 totaled EURO 2,894,000,
meaning that the Company succeeded in more than doubling operating income
from last year’s adjusted level. After adjusting for a special item
totaling EURO 1,037,000, which consisted of other operating income freed up
from debt that no longer has to be serviced and from the reserves
originally set up to cover such debt, the prior year figure totaled EURO
1,347,000. Second-quarter EBITDA was EURO 1,388,000, or almost as strong as
the figure reported for the first three months of 2006 (EURO 1,506,000).
The trend in other operating expenses reflects the continued increase in
productivity. They totaled EURO 1,373,000 in the second quarter of 2006,
which was close to the Q1 2006 level (EURO 1,311,000); by comparing the
six-month periods from January through June, we can see that the Company
cut these expenses by over 9% (2006: EURO 2,684,000; 2005: EURO 2,936,000).
Consolidated EBIT in the first half of 2006 totaled minus EURO 617,000 (Q2
2006: minus EURO 326,000), compared with minus EURO 291,000 in the first
quarter of 2006 and unadjusted minus EURO 1,746,000 in the first half of
2005.
The Company also reported growth on a cash basis. On June 30, 2006,
Broadnet had cash and cash equivalents totaling EURO 23,842,000. Compared
to the same date last year (June 30, 2005: EURO 22,275,000), cash and cash
equivalents rose by 7%, or EURO 1,567,000.
Capital expenditures during the first half of 2006 totaled EURO 1,809,000
(1st half of 2005: EURO 2,741,000) of which the bulk, EURO 1,178,000, was
directed at investments in the technical infrastructure (1st half of 2005:
EURO 2,090,000).
On the Balance Sheet date, Broadnet’s shareholders’ equity totaled EURO
40,540,000 (prior-year: EURO 41,583,000) and it again reported a high
equity ratio of 82% (June 30, 2005: 85%).
The Company’s most important financial highlights are contained in the
following table of key corporate figures:
in € 000 1st Half of Q1 2006 1st Half of
2006 2005
Sales revenues 24,754 12,091 16,739
EBITDA 2,894 1,506 2,384
EBIT (617) (291) (1,746)
Earnings per share (in EURO; (0.01) (0.004) (0.08)
diluted and undiluted)
Gross cash flow 2,906 1,513 2,581
Cash and cash equivalents 23,842 23,058 22,275
Fixed assets 20,270 21,179 22,058
Short-term liabilities 8,759 9,120 6,824
Shareholders’ equity 40,540 40,649 41,583
Total assets 49,299 49,842 48,820
Number of employees as of the 197 197 199
Balance Sheet date
These figures demonstrate the Company’s good market position.
Following the good results in the first quarter, Broadnet continued to
solidify its position as one of the leading, full-service providers for
business customers and forged ahead with its consistent focus on
strategically important, high-growth and innovative business segments.
Consequently, its sales and business activities continued to emphasize
innovative solutions for business clients. By collaborating with system
housing providers, resellers and wholesalers, the Company has reaffirmed
its market position.
Contact:
Broadnet AG
Ties Kaiser
Manager of Corporate Communications
Phone: +49 40 66 86 10 640, e-mail: t.kaiser@broadnet.de
(c)DGAP 15.08.2006
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Language: English
Issuer: Broadnet AG
Weidestr. 122a
22083 Hamburg Deutschland
Phone: +49 (0)40 66 8610-0
Fax: +49 (0)40 66 8610-122
E-mail: info@broadnet.de
WWW: www.broadnet.de
ISIN: DE0005490866
WKN: 549086
Indices: CDAX, PRIMEALL, TECHALLSHARE
Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin-Bremen, Stuttgart, München, Hamburg, Düsseldorf
End of News DGAP News-Service
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