Ad-hoc | 24 May 2004 17:25

edel music AG: half-yearly results 2003/2004

Ad-hoc-announcement processed and transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– edel music AG: half-yearly results 2003/2004 Hamburg, 24 May 2004 – In the first half of the financial year 2004 (01.10.2003 to 31.03.3004), edel music AG raised its earnings before tax, interest, depreciation and amortization (EBITDA) to EUR 7.3 million (first half year 2003: EUR 3.7 million). Europe’s biggest independent music group increased its earnings before tax and interest (EBIT) to EUR 4.0 million, following a minus of EUR 0.1 million in the first half of the previous financial year. The half- yearly net earnings recorded a group result of EUR 2.8 million (31.03.2003: minus EUR 1.3 million). Sales of EUR 71.6 million essentially maintained the previous year’s level (first half year 2003: EUR 73.1 million). The company recorded a positive operational cash flow of EUR 4.1 million (previous year: EUR 2.2 million). As of 31.03.2004, the edel Group’s cash and cash equivalents totalled EUR 12.0 million, its equity EUR 29.9 million. After the final completion of the group’s realignment, COO/CFO and turnaround expert Michael Baur has decided to exit the company as of 30.06.2004. For the time being, CEO Michael Haentjes will head edel music AG as sole management board member. Further information Corporate Communications Tel. +49 40 89085 218 Email: Stefan_Weikert@edel.com Investor Relations Tel. +49 40 89085 225 Email: Baerbel_Tomas@edel.com end of ad-hoc-announcement (c)DGAP 24.05.2004 ——————————————————————————– WKN: 564950; ISIN: DE0005649503; Index: Listed: Geregelter Markt in Frankfurt (General Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, München und Stuttgart 241725 Mai 04