Ad-hoc | 16 February 2004 08:50

Telegate AG: Significant annual profits for 2003

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Telegate AG: Significant annual profits for 2003 In 2003, telegate AG concluded its impressive turnaround with the best financial year since the IPO. telegate generated a net profit of EUR 7.5 million in 2003, after reporting a loss of EUR -37.3 million in the previous year. The telegate Group raised sales revenues by approximately 20 percent during the reporting period, to EUR 138.7 million (2002: EUR 115.6 million). The percentage of sales from the International segment grew strongly; in 2003, it was 17 percent (2002: 12 percent). With EBITDA of EUR 20.7 million (2002: EUR 9.4 million) the company reached the upper limit of the earnings forecast increased in November. The operating cash flow amounted to EUR 25.6 million in 2003 (2002: EUR -1.4 million). The company’s liabilities were thus reduced by a further EUR 23 million in the past financial year and amounted to EUR 4.7 million on 31.12.2003 (2002: EUR 27.8 million). This is offset by liquid funds totalling EUR 9.3 million. For the first time since 1999, the liquid funds have thus exceeded financial liabilities. The significant earnings improvement and the solid balance sheet clearly underscore the successful business model of the provider of information services and impressively confirm the future-oriented path of growth that telegate has taken. The company forecasts double-digit annual sales and earnings growth for 2004 to 2006. For further information, please contact: telegate AG Claudia Strixner Fraunhofer Str. 12a – 82152 München-Martinsried Phone: +49 (0)89/ 8954-1188 – Fax: +49 (0)89/ 8954-1189 E-mail: claudia.strixner@telegate.com end of ad-hoc-announcement (c)DGAP 16.02.2004 ——————————————————————————– WKN: 511880; ISIN: DE0005118806; Index: Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 160850 Feb 04