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07.11.2004 – 23:44

freenet AG

euro adhoc: AG
Quarterly or Semiannual Financial Statements
freenet increases all key nine month result figures by over 100 percent year on year

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freenet increases all key nine month result figures by over 100 percent year on year · EBITDA: 102.91 million euros (Q1-Q3/2004, IFRS) · EBT: 75.69 million euros (Q1-Q3/2004, IFRS) · Group result: 46.09 million euros (Q1-Q3/2004, IFRS) · Revenues: 345.12 million euros (Q1-Q3/2004, IFRS) · Over 265,000 DSL customers at end of September 2004 · 60,000 DSL customers added in Q3/2004 · More than 500,000 pre-selection customers at end of Q3/2004 · Online service counts over 6.4 million members at end of Q3/2004 AG / Hamburg – The AG is still on track for success and reports excellent results for the first nine months of the year: EBITDA, or earnings before interest, taxes, depreciation and amortization, rose by 108 percent to 102.91 million euros (Q1-Q3/2003: 49.52 million euros). Earnings before taxes (EBT) improved even more steeply, soaring by over 160 percent to 75.69 million euros (Q1-Q3/2003: 28.84 million euros). After taxes, group result increased to 46.09 million euros – a 112 percent improvement (Q1-Q3/2003: 21.73 million euros). “The numbers show that we are more than equal to the intensifying competitive pressure. After a second quarter that was fully on plan, and the third quarter even slightly above plan, we are increasing our pre-tax profit forecast for 2004 from 90 million to between 93 and 95 million euros,“ commented AG CEO Eckhard Spoerr the numbers. Despite intense competition and high distribution costs, EBITDA improved to 31.31 million euros in Q3/2004 – a significant, 52-percent increase over Q3/2003 and up by three percent from the previous quarter. EBT increased even more noticeably compared with Q3/2003, by 114 percent to 23.02 million euros (a ten percent improvement over the previous quarter). Group result rose by nearly 120 percent, totalling 13.94 million euros after 6.37 million euros in Q3/2003 (plus seven percent with 12.98 million euros in Q2/2004). In the first nine months of the current year, freenet generated total revenues of 345.12 million euros in all segments (internet access, voice, portal and B2B services) – a 39 percent increase over Q1-Q3/2003 (248.86 million euros). Total revenue for the third quarter was 116.02 million euros (up by six percent over the previous quarter). All core fields of business improved over the previous quarter: internet access to 68.56 million euros (vs. 64.36 million euros), voice telephony to 38.0 million euros (vs. 35.94 million euros) and the Portal business to 8.25 million euros (vs. 8.09 million euros). AG also registered substantial growth in its internet
customer base during the third quarter of 2004. freenet added roughly
60,000 new DSL customers in the third quarter alone. “With a
total of 265,000 DSL customers at the end of September 2004, we are
still very much on track for making our year-end target of between
280,000 and 300,000 customers – or even exceeding it,”
continued Eckhard Spoerr. “The resale business begun at the end
of the third quarter means that we are now recruiting customers not
only for our connectivity service, but for line subscriptions as
well,“ Spoerr added. At 3.52 million, the number of narrowband
customers was roughly on par with the previous quarter (3.48 million
narrowband customers).
Having managed a turnaround in pre-selection customer recruitment in
the second quarter 2004, freenet once again increased this customer
base in Q3/2004: more than 40,000 new customers chose to pre-select
freenet in order to systematically save money on their phone calls
– at end of September 2004, AG had over 500,000
pre-selection customers.
                                  Q3/2004 Q2/2004 Q3/2003 Q1-Q3 2004 Q1-Q3 2003
Revenues                      116,016 109,624 115,134 345,116      248,864
Segment: Internet                                                                
access                         68,563  64,355  73,084  209,678      154,519
Segment: Voice            38,000  35,944  33,254  108,574      69,003
Segment: Portal          8,248    8,091    6,796    23,129        21,567
Segment: B2B Services 1,205    1,234    2,000    3,735         3,775
Gross profit                58,136  53,404  45,961  178,633      98,716
EBITDA                         31,308  30,272  20,559  102,907      49,516
Earnings before                                                                  
taxes (EBT)                 23,024  20,904  10,745  75,687        28,840
Group result                13,938  12,978  6,368    46,094        21,733
Cash and cash                                                                      
equivalents                 150,229 155,589 104,268 150,229      104,268
Financial data per IFRS; in TEUR / Source: AG

end of announcement                                euro adhoc 07.11.2004 23:06:19

Further inquiry note: Andreas Neumann Tel.: +49 (0)40 51306 778 E-Mail:

Branche: Online
ISIN:      DE0005792006
WKN:        579200
Index:    TecDAX, Prime Standard
Börsen:  Frankfurter Wertpapierbörse / regulated dealing
              Berliner Wertpapierbörse / free trade
              Hamburger Wertpapierbörse / free trade
              Baden-Württembergische Wertpapierbörse / free trade
              Börse Düsseldorf / free trade
              Niedersächsische Börse zu Hannover / free trade
              Bayerische Börse / free trade
              Bremer Wertpapierbörse (BWB) / free trade

Original content of: freenet AG, transmitted by news aktuell

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