TelesensKSCL AG
TelesensKSCL AG english
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Cologne, 29 November 2001 – TelesensKSCL today publishes its figures for the
third quarter of 2001. As indicated on 11th October third quarter revenues of
the Group (17.2 million euros) were substantially below second quarter revenues
(19.3 million euros. Revenues therefore reached 65.0 million euros for the first
nine months. The reasons for the reduction include the continued difficult
market situation, delays and postponements on sales, and the fact that in the
case of two projects we had to write back sales revenues.
As a result of the lower revenues and the adverse impact of the situation with
Telsim which we previously reported, TelesensKSCL today reports a loss of 13.3
million euros at EBITDA level(before extraordinary expenses) in the third
quarter. However, EBITDA shows an improvement when compared to the second
quarter result (a loss of 15.9 million euros). The net loss for the Group for
the third quarter (128.1 million euros; 190.5 million euros for the nine month
period) includes one-off expenses for accelerated depreciation and goodwill
amortization totalling 82.5 million euros which have no effect on liquidity.
On 30 September 2001, TelesensKSCL had cash resources of 8.2 million euros. This
does not include 16 million euros which were received in October as a result of
the financing packages of June and October 2001.
For the current year the Executive Board expects overall revenues of between 80
and 85 million euros and an EBITDA loss (before extraordinary expenses) in the
order of 33 to 38 million euros. Furthermore, the Board expects that revenues
will stabilise at 85 million euros next year. As a result of the restructuring
programme, which significantly reduces the running costs of the business
compared to the beginning of this year, the Executive Board expects an average
EBITDA margin of around 8% for the year 2002. It is anticipated that the
business will achieve break-even operating cash flow in quarter 2 of 2002.
The full quarterly report is available on the TelesensKSCL website.
Investor Relations: Nina von Moltke
E-mail: investor@telesenskscl.com
Internet: www.TelesensKSCL.com
TelesensKSCL AG, Ferdinand-Porsche-Strasse 1, 51149 Cologne
Tel.: +49 2203 91 28 888, Fax.: +49 2203 91 28 500
end of ad-hoc-announcement (c)DGAP 29.11.2001
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WKN: 529970; Index:
Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf,
Hamburg, Hannover, München, Stuttgart
290731 Nov 01
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