All Stories
Follow
Subscribe to feratel media technologies AG

feratel media technologies AG

euro adhoc: feratel media technologies AG
EBT positive for financial 2002/2003 - Dividend payment proposed (E)

Disclosure announcement transmitted by euro adhoc. The issuer is
responsible for the content of this announcement.
In the 2002/2003 business year (1 May 2002 to 30 April 2003), feratel
media technologies AG, the e-tourism and media group quoted on the
Vienna stock exchange, managed to steer a positive course in spite of
the unfavorable market conditions. Earnings before taxes (EBT) rose
to TEUR 61 compared with minus TEUR 505.2 in the previous year. At
approximately EUR 2.3 million, EBITDA for the group remained stable.
"According to the Austrian Stock Corporation Law the financial
statements of feratel media technologies AG form the basis for the
dividend payment and report retained earnings worth 550 TEuro. The
healthy situation with regard to the balance sheet for the feratel
group, with a current equity ratio of 69 % and liquid resources
including securities of current assets less short-term liabilities
totalling 5.2 Mio. Euro, has prompted us to propose to the Annual
General Meeting feratel’s first dividend payment since the
corporation went public, namely 6 Eurocents per share," announced
Markus Schröcksnadel, CEO at feratel media technologies AG, at the
official presentation of the annual financial statements.
While feratel reported a slight increase in net sales in its core
markets Austria and Switzerland - thanks to its outstanding market
position and the successful launch of new products and services there
-, the corporation still had to contend with a deteriorating market
in Germany. The German tourism associations, which are not financed
via membership fees as in Austria, were hit by severe cuts in the
funds they receive from the local and regional authorities. The
result was a significant drop in sales in the IRS Division in
Germany. Sales for the division as a whole were accordingly down from
EUR 9.3 million to EUR 7.4 million. That contrasts with an increase
in sales for the Telecommunications Division from EUR 7.4 million to
EUR 7.9 million, while the Media Division also improved, from EUR 1.5
million to EUR 1.9 million. Total consolidated sales for financial
2002/2003 fell by about 5 % to EUR 17.2 million. Operating revenues
were also down, at EUR 19.1 million compared with EUR 19.3 million in
the previous year.
feratel reacted to the recession in Germany with a strict
cost-reduction program. All group activities in the country were
concentrated on feratel Germany, marginal lines like ticketing were
sold off, and the headcount in Germany was greatly reduced in keeping
with current requirements for the market and sales volumes there.
These measures were taken without detriment to feratel’s market
position in Germany.
Highlights of the financial year
feratel’s focused efforts to enter the tourism growth markets of
Central and Eastern Europe have started to deliver measurable
results. Having taken the first steps in Hungary in the previous
year, with a camera placed in Budapest and a transmission agreement
signed with Hungarian national television, feratel followed up in the
year under report with additional cameras located in Siofok, Sáfár,
Esztergom, Visegrád and Balaton Füred. A further three cameras will
be on the air in the near future. In Slovenia, feratel installed the
country’s very first e-tourism solution for the Julian Alps Region.
At the beginning of this year, feratel launched an electronic private
label card system in co-operation with Siemens PSE. Unlike
conventional systems, a completely new kind of chip enables memory to
be shared by various partners. A first pilot project was launched in
the Pyhrn-Priel Region of Upper Austria in mid-May.
Outlook
In financial 2003/2004, feratel is again placing a main focus on
further developing and consolidating its core markets in Austria and
Switzerland. In Germany, the strategy is to maintain the
corporation’s market position in spite of the problematical economic
climate there. The promising initial steps taken to access new
markets will be followed up on a sustainable basis.
"For the current financial year we have set ourselves the target of a
slight increase in sales and a further improvement to our results in
spite of continuing difficulties in terms of the general economic
framework. If sales and results develop accordingly, it will again be
possible to pay a dividend for the 2003/2004 business year," Markus
Schröcksnadel concludes.
* before non-recurring charges
"~"
Consolidated Balance Sheet (in TEUR)
30.4.2003         30.4.2002
Assets 
Non-current assets                     14,869.3         13,776.6
Deferred tax assets                     1,725.9          2,354.6
Non-current receivables                   218.9            330.6
Current assets and prepayments         15,751.9         20,195.4
Liabilities
Shareholders´ equity                   22,461.0         22,642.1
Minority interest                          86.9            190.8
Long-term liabilities                   1,064.6            514.6    
Deferred tax liabilities                  270.6            196.3
Short-term liabilities, accruals 
and deferred income                     8,682.9         13,113.4
Balance sheet total                    32,566.0         36,657.2
Consolidated Income statement (in TEUR)
2002/2003       2001/2002
Sales                                   17,180.4         18,170.2
Income from operations                  19,157.6         19,342.1
EBITDA                                   2,351.9          2,314.3
EBT                                         61.0           -505.2*
* before nun-recurring charges
"~"
end of announcement        euro adhoc 25.07.2003

Further inquiry note:

For further questions please contact:
Martin Fritsch, feratel media technologies AG, Maria-Theresien-Straße
8, A-6020 Innsbruck, Phone: 0043/(0)512/7280,
Fax: 0043/(0)512/7280-80, E-Mail: martin.fritsch@feratel.com

Branche: Tourism & Leisure
ISIN: AT0000737804
WKN: 073780
Index: Standard Market Auction
Börsen: Wiener Börse AG / official dealing
Berliner Wertpapierbörse / free trade
Bayerische Börse / free trade
Baden-Württembergische Wertpapierbörse / free trade
Frankfurter Wertpapierbörse / free trade

Original content of: feratel media technologies AG, transmitted by news aktuell

More stories: feratel media technologies AG
More stories: feratel media technologies AG