Medion AG

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    Mülheim (ots Ad hoc-Service) -      

    Sales Plus                                    
    Overproportional Increase in Earnings

    In the first six months of the fiscal year 1999/00 MEDION was able to generate a substantial improvement of both sales and earnings and thus proved once again its status of being a fast growing company. While sales rose by more than 37 % from DM 963.2 M to DM 1,320 M (Euro 675 M) compared to the corresponding period in 1998/99, the first half net earnings improved overproportionally by 58.9 % and earnings per share rose from Euro 0.5 to Euro 0.79.          Successful Internationalisation By founding our own subsidiaries and co-operating with reliable service partners MEDION has now become able to offer its comprehensive service concept in nearly all major European countries. Foreign sales went up by 600 % from DM 22.0 M in the first half of 1998/99 to DM 135.2 M. Thus all our expectations have been substantially exceeded.          Product Innovations as Factors for Success Due to its popularity MEDION has acquired new sales potential also on the domestic market. As a consequence co-operations were established with well known companies such as petrol stations, book clubs and department stores. Further co-operations are underway.          MEDION's know-how in realising and marketing innovative trend products helped by our strong partners made our sales campaigns with CD burners, modems, internet cameras, flat screens, DVD players and dolby surround equipment to become top sellers. These product innovations have already delivered DM 94.8 M - and thus are a significant contribution to our sales volume. Additional product innovations with high sales potentials are about to be launched in the foreseeable future.          New Media The professionalisation and commercialisation of the internet as well as the wish for mobile services generate large growth markets. The bundling of internet-, ISDN-, tariff- and mobile phone offers with our sales campaigns of PCs, modems, notebooks or telecommunication hardware ensured substantial profit growth. Thus MEDION has been able to market several ten thousands internet-, ISDN- or mobile phone contracts in the first half of financial year of 1999/00.          Positive Perspectives MEDION's business strategy is focussed on continuous growth. Our aim is to increase MEDION's acceptance by investing in foreign countries in order to install a European wide presence. Furthermore we invest in Germany in order to optimise our service quality for our retail clients as well as the end users. MEDION is certain to own a very solid and promising growth platform, based upon the following four core elements: Expanding our well-established partnerships, co-operations with important domestic and foreign producers and retailers, product innovations and the tackling of new attractive growth markets. The results after the first half of the business year make us confident that we will exceed our predicted growth rates of 25 - 30 % in the current business year 1999/00.

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