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feratel media technologies AG

euro adhoc: feratel media technologies AG
Quarterly or Semiannual Financial Statements
Operative result in first half-year up 31%, EBITDA improved by 60% Positive developments in sales and earnings in Austria and Switzerland (E)

Disclosure announcement transmitted by euro adhoc. The issuer is
responsible for the content of this announcement.
For the feratel media technologies AG e-tourism and media group,
which is quoted on the Prime Market of the Vienna Stock Exchange, the
first half of financial 2002/2003 saw a repeat of the positive
developments reported for the first quarter on the Austrian market,
with a twin-digit increase in sales achieved once again. For
Switzerland, too, a satisfactory performance can be reported in spite
of the more difficult market situation there. In Germany, on the
other hand, the sluggish economy and greatly reduced capital spending
on the part of the public authorities are having a negative impact on
the trading position.
In the first half of financial 2002/03, the group reported an 8.7%
increase in operating revenues to EUR 8.2 million, while consolidated
group sales improved by 1.4% from EUR 7.0 million to EUR 7.1 million.
The difference in growth between operating revenues and sales derives
from such factors as advance deliveries on sales not yet billed. The
feratel-subsidiary Tourismus Service GmbH reports a write-off
totalling TEUR 440 for uncollectible receivables. The loss was
compensated by retransferring the same amount from accruals. Other
operating income and other operating expenses rose accordingly.
Positive developments can be reported with regard to results, with
the operative result (EBIT) up 31% in the period-to-period
comparison, and EBITDA up 60%, EBIT rose from EUR -1.97 million to
EUR -1.37 million. The improvement in EBITDA was from TEUR  -320.7 in
the first half of financial 2001/02 to TEUR -128.6. As stated in
every half-yearly report from feratel, it should be noted that the
key Telecommunications division does the major share of its business
in the second half of the financial year, whereas expenditures are
distributed more or less uniformly over the full twelve-month period.
For that reason, the second half of the year traditionally makes a
significantly bigger contribution to the year-end result than the
first half.
In spite of the difficult economic situation, feratel is looking
forward to continued consolidation of the company’s performance in
the second half of financial 2002/03 and a further improvement in
terms of results. The measures now in place to reduce costs in
Germany are starting to generate measurable results. At the present
time, feratel’s goal of paying a dividend for financial 2002/03 must
be considered realistic.
~
Consolidated Balance Sheet (in TEUR)
31.10.2002        30.04.2002
Assets
Non-current assets                    13,312.4          13,776.6
Deferred tax assets                    2,051.9           2,354.6
Non-current receivables                    0.0             330.6
Current assets and prepayments        17,435.4          20,195.4
Liabilities
Shareholders’ equity                  21,172.8          22,642.1
Minority interest                        130.9             190.8
Long-term liabilities                    572.4             514.6
Deferred tax liabilities                   0.0             196.3
Short-term liabilities, accruals
and deferred income                   10,923.6          13,113.4
Balance Sheet Total                   32,799.7          36,657.2
Consolidated Income Statement (in TEUR)
1st half year 2002/2003    1st half year 2001/2002
Sales                        7,094.9                   7,000.3
Income from operations       8,244.6                   7,582.8
EBIT                        -1,369.3                  -1,973.9
EBT                         -1,378.3                  -1,947.4
EBITDA                        -128.6                    -320.7
~
end of announcement        euro adhoc 20.12.2002

Further inquiry note:

For further questions please contact: Martin Fritsch feratel media technologies AG,
Maria-Theresien-Straße 8, A-6020 Innsbruck, Phone: +43(0)512/7280-0, Fax: +43(09512/7280-80, E-Mail:
martin.fritsch@feratel.com

Branche: Tourism & Leisure
ISIN: AT0000737804
WKN: 073780
Index: ATX Prime, ViDX, WBI
Börsen: Baden-Württembergische Wertpapierbörse / free trade
Bayerische Börse / free trade
Berliner Wertpapierbörse / free trade
Frankfurter Wertpapierbörse / free trade
Wiener Börse AG / official dealing

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