Mobilcom AG
MobilCom AG english
mobilcom: Earnings turnaround in service provider business
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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mobilcom: Earnings turnaround in service provider business
Operative Group results rise substantially – product offensive
mobilcom AG, Büdelsdorf, has succeeded in turning around the earnings situation
in its core business as a wireless service provider: in the second quarter –
earlier than expected – this business unit has also moved into the black, both
in terms of the operative earnings before in-terest, taxes and depreciation
(EBITDA) at Euro13.5 million and of the earnings before interest and taxes
(EBIT) at Euro4.8 million. For the first time after eleven quarters with an
operative loss, the service provider has thus once again made a positive
contribution to Group earnings. In the two business units Wireless Service
Provider and Landline/Internet – i.e., without UMTS – the results on the EBITDA
basis came to Euro51.9 million in the first half of 2003, although turn-over
fell to Euro899.8 million (first half of 2002: Euro1,034.2 million). In the
comparable period of the previous year, the Company was forced to absorb a loss
of Euro45.6 million. The EBIT loss of Euro221 million in the first half of 2002
resulting from high depreciation costs is now con-trasted by earnings of
Euro12.2 million. Group earnings improved correspondingly from -Euro289.3
million in the first half of 2002 to Euro4.1 million in the first half of 2003.
As a consequence of the service provider business, which is once again
substantially profitable, mobilcom is now in a position to finance the product
offensive in the third and fourth quarters primarily from the earnings from the
clientele base – particularly since it was possible to stop the negative
turnover trend in this business unit: although the number of customers fell from
4.5 mil-lion in Q1 2003 to 4.2 million in Q2 2003, turnover rose slightly
from Euro321 million to Euro329 million. The clearing of the customer base and
the new tariff structure caused the average monthly turnover per customer
(ARPU) to rise to Euro22.0 (Q1 2003: Euro20,2) and the EBITDA per customer
increased from -Euro1.2 to Euro3.0. mobilcom plans to stabilize the customer
basis at the current level through a product offensive. It must be assumed that
there will be a fall in the Group earnings in the quarterly comparison,
especially in Q4, due to the traditionally strong Christmas business and the
accompanying customer acquisition costs.
end of ad-hoc-announcement (c)DGAP 12.08.2003
Issuer’s information/explanatory remarks concerning this ad-hoc-announcement:
But mobilcom reaffirmed the prediction that despite the planned advance
performances for long-term growth – and the accompanying burden on earnings in
the second half of the year – there will be a profit on an EBIT basis in the
Group overall for fiscal year 2003. Major key data of the mobilcom Group in a
quarterly comparison
Accounting principles: IFRS
1.Hj 2003 1.Hj 2002 Q2 2003 Q2 2002
Employees e.o.per. 2,905 5,070 2,905 5,070
Turnover(Mio. Euro) 899.9 1,034.2 446.9 519.9
Service-Provider 650 719 329 368
Festnetz/Internet 250 292 118 144
UMTS 0 0 0 0
EBITDA (m.Euro)adjusted 49.9 -45.6 31.1 -18.8
EBITDA (mEuro)*not adj. 51.9 -170.4 33.1 -49.7
Service-Provider 8.3 -43.0 13.5 -21.5
Fixed/Internet 41.6 43.4 17.6 25.3
UMTS 86.8 -124.9 2.0 -30.9
EBIT (m.Euro)adjusted 12.2 -221.0 12.1 -161.6
EBIT (mEuro)*not adj. 14.2 -358.6 14.1 -198.5
Service-Provider -9.4 -172.4 4.8 -135.7
Fixed/Internet 21.6 15.5 7.3 8.9
UMTS 86.8 -137.6 2.0 -36.9
Group income/loss 4.1 -289.3 3.6 -172.8
Earnings/Share 0.06 -4.40 0.05 -2.63
Net fin.assets/liab.** 77.9 -6,606.1 77.9 -6,606.1
Cash and Cash e. (mEuro) 246.7 96,9 246.7 96.9
Equity Ratio in % 34.8 30.4 34.8 30.4
* Adjustment affects the business unit UMTS and results from the elimination of
a pay-ment from France Télécom which was recorded under Other operating
income. This item is balanced by interest payment of the same amount. But as
this effect would distort the view of the actual earning power of the Group,
EBIT and EBITDA were adjusted to clear this effect.
**Total of the liquid assets, less bank liabilities and the pension provisions
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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
120820 Aug 03
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