Ad-hoc | 12 August 2002 08:05

Drillisch AG english

Half-year report Drillisch AG Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Half-year report Drillisch AG Positive earnings after taxes for the second consecutive period; EBITDA increases by 74%; ARPU increases by 20%, EBITDA target set at 5.7 million euros for 2002; debt repayment continues to be ahead of schedule For the first six months 2002 (H1/02) all operative figures for Drillisch AG demonstrate a positive trend. EBIT improved from -618,000 euros (H1/01) to +851,000 euros in H1/02. EBITDA also exceeded the corresponding figure for the first six months 2001 by 74%, reaching 2.7 million euros in H1/02 and, as such, beating the market consensus by 25%, according to the company’s own research. Group sales declined by 21% to 70.5 million euros in the wake of a reduction in sales from mobile handsets. At 20 % the increase in average revenue per user (ARPU) between January and June 2002 was considerably better than the mobile communications market as a whole. Drillisch AG is also demonstrating enormous earnings momentum in a quarter-to- quarter comparison for the year 2002. For example, EBIT increased by nearly 26% from 377,000 euros in the first quarter 2002 (Q1/02) to 474,000 euros in Q2/02. Earnings from ordinary business operations improved by some 77% from 185,000 euros (Q1/02) to 327,000 euros in Q2/02. Net income for the year increased from 5,000 euros (Q1/02) to 98,000 euros (H1/02) following a loss for the half-year 2001 of 1.3 million euros. As such, Drillisch is proving that the turnaround is continuing into Q2/02 and is therefore sustainable. The Drillisch Group is also ahead of schedule with its debt repayment policy. Compared with 31.12.2001 gross bank liabilities decreased by more than 71% from 8.4 million euros to 2.4 million euros as at 30.06.2002, and to 1.6 million euros as at 31.07.2002. If this figure is offset against the cash and cash equivalents held as at 30.06.2002 (3.4 million euros), the Drillisch Group was free of any net bank liabilities as at the reporting date. This remarkable reduction in bank liabilities was financed primarily from the operating cash flow. Given the sustainability of the earnings situation as a result of improvements in efficiency, Drillisch AG has firmed up its target for the year 2002. The company now expects EBITDA to reach 5.7 million euros for the whole year following an EBITDA loss of 4.3 million euros in 2001. end of ad-hoc-announcement (c)DGAP 12.08.2002 ——————————————————————————– WKN: 554550; ISIN: DE0005545503; Index: Listed: Neuer Markt in Frankfurt und im Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 120805 Aug 02