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euro adhoc: WEB.DE AG
WEB.DE with record revenues and result in 2003 (E)

  Disclosure announcement transmitted by euro adhoc.
  The issuer is responsible for the content of this announcement.
With its preliminary figures for the fourth quarter and the overall
year 2003, WEB.DE AG reports about the most successful fiscal year in
the company's history: revenues increased in Q4/2003 to EUR 9.3
million (EUR +2.3 million y-o-y). Total revenues for fiscal 2003
hence amount to EUR 32.8 million (EUR +9.2 million or +39% y-o-y).
The growth in revenues was again clearly driven by Digital Paid
Services (including the WEB.DE Club with +200% growth y-o-y in
members).
The gross profit rose in full fiscal year 2003 to EUR 24.7 million
and with a growth of +42% y-o-y even grew stronger than revenues in
2003. The gross margin improved to 75% (prior year 74%).
The earnings before interest, taxes, depreciation and amortization
(EBITDA) were positive in Q4/2003 for the fifth quarter in a row and
also for the full year 2003. With EUR +1.0 million in Q4/2003 WEB.DE
AG generated an EBIDTA profit of EUR +3.8 million during the full
fiscal year 2003, after a loss in 2003 (EUR -4.3 million). With its
net result WEB.DE has also reached profitability on full year basis.
In 2003 the net income for the year amounted to EUR 0.8 million after
a loss in 2002 (EUR -12.9 million).
WEB.DE invested more than 40% of its revenues in research and
development in 2003. With these intensive investments in the
development of innovative products and technologies for the portal
and Web Telecommunications businesses, the company still generated a
positive operating cash flow for the full year 2003 in the amount of
EUR +8.3 million. Cash & cash equivalents rose from EUR 98 million in
2002 by EUR 4 million to EUR 102 million as of December 31, 2003 and
reached their highest level in eight quarters. WEB.DE AG continues to
be financed on a very sound basis.
The Executive Board of WEB.DE AG anticipates a 35 to 40 percent
revenue growth for fiscal 2004 with positive net income and positive
EBITDA. In Web Telecommunications, the Executive Board expects for
2004 not only the conclusion of international contracts but also a
positive development in the business and end customer segment,
whereas the Com.Win product family continues to be further developed
with high impact in 2004.
Appendix: Key figures (preliminary)
~
(in EUR million)                   Q4/03 Q4/02  2003  2002
Sales revenues                     9.3   7.0    32.8  23.6
Gross profit on sales              7.2   5.3    24.7  17.5
EBITDA                             1.0   0.8     3.8  -4.3
Net income                         0.2   0.1     0,8 -12.9
~
Contact:
WEB.DE AG, Investor Relations, Richard Berg 
tel. +49 (0)721.94329.2700, email  rb@webde-ag.de
The Annual Report will be published at the Annual Press Conference on
March 25, 2004.
end of announcement        euro adhoc 05.02.2004

Further inquiry note:

Richard Berg
Tel. +49(0)721 94329 2700
E-Mail: rb@webde-ag.de

Branche: Software
ISIN: DE0005296503
WKN: 529650
Index: HDAX, Nemax 50, Prime Standard, TecDAX
Börsen: Frankfurter Wertpapierbörse / regulated dealing
Niedersächsische Börse zu Hannover / free trade
Berliner Wertpapierbörse / free trade
Bayerische Börse / free trade
Hamburger Wertpapierbörse / free trade
Bremer Wertpapierbörse (BWB) / free trade
Börse Düsseldorf / free trade
Baden-Württembergische Wertpapierbörse / free trade

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