T-Online International AG
T-Online International english
Revenues in first nine months increase
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Revenues in first 9 months increase to EUR 1.3 billion, 21.5 percent higher than
in the prior yearEBITDA excluding extraordinary effects amounts to EUR 237.6
million in first 3 quarters; operating profit excluding extraordinary
effects amount to EUR 183.6 million in same period12.9 million subscribers
Darmstadt, November 11, 2003In the 3rd quarter of 2003, T-Online International
AG generated revenues of EUR 452.7 million (Q3/02: EUR 377.4 million) and an
operating profit of EUR 61.2 million (Q3/02: EUR 16.6 million). EBITDA for Q3
amounted to EUR 81.0 (Q3/02: 34.1) million. In addition, T-Online reported Group
net income for the first time in Q3 of 3 million EUR. This can be attributed
mainly to a partial write-up of EUR 34 million on the book value of comdirect
AG, a 21.35-percent subsidiary of T-Online International AG, that was written
down in 2002.
Compared with the first 9 months of the previous year, revenues increased by
21.5 percent to EUR 1.347 billion (Q1-3/02: EUR 1.109 billion), with operating
profit excluding extraordinary effects rising to EUR 183.6 million (Q1-3/02:
minus EUR 27.2 million). EBITDA excluding extraordinary effects totaled EUR
237.6 million (Q1-3/02: EUR 21 million). One of the main drivers was the growth
in subscriber numbers: As of the reporting date Sept. 30, 2003, T-Online had
12.9 million subscribers in the Group, an increase of around 1 million yoy and
231,000 more than at the half year 2003. The proportion of broadband subscribers
in relation to the total subscriber base also showed further growth, reaching
30 percent in Germany and 27 percent in the Group as a whole by the end of Q3.
Positive effects for EBITDA and operating profits were generated not only by the
further qoq increase in gross margin, but also by the trend shown by the Rest
of Europe segment, whose EBITDA rose by just under 59 percent yoy to minus EUR
26.7 million in the first 3 quarters of 2003. The gross margin was increased to
59.3 percent in Q3, compared with 57.5 percent in the 2nd quarter. This increase
can, among other things, be attributed to a further improvement in network
capacity usage as a result of one-off changes in subscriber behavior triggered
by the exceptionally hot summer months.
All of the figures and tables comply with IAS. The comparative figures for 2002
are also reported in compliance with IAS.
end of ad-hoc-announcement (c)DGAP 11.11.2003
Issuer’s information/explanatory remarks concerning this ad-hoc-announcement:
Millions of Euro first 9m 03 first 9m 02 Q3 2003 Q3 2002
Net revenues 1,347.0 1,108.8 452.7 377.4
Subscribers in millions 12.90 11.85
Gross margin in percent 57.6 47.4 59.3 51.2
Operating profit 207.2 14.1 61.2 16.6
Op. profit excl. sales* 183.6 (27.2) 61.2 16.6
EBITDA 261.2 62.2 81.0 34.1
EBITDA excl. sales* 237.6 21.0 81.0 34.1
Earnings before taxes 60.7 (404.4) 37.6 (274.3)
Group net/income (43.1) (428.0) 3.0 (291.8)
Earnings per share (Euro) (0.04) (0.35) 0.00 (0.24)
* EUR 23.6 million from sale of t-info in second quarter of 2003 and EUR 41.3
million from sale of 40-percent stake in T-Motion in second quarter of 2002.
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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
110726 Nov 03
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