euro adhoc: feratel media technologies AG / EBT positive for financial 2002/2003 - Dividend payment proposed (E)

Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.

In the 2002/2003 business year (1 May 2002 to 30 April 2003), feratel media technologies AG, the e-tourism and media group quoted on the Vienna stock exchange, managed to steer a positive course in spite of the unfavorable market conditions. Earnings before taxes (EBT) rose to TEUR 61 compared with minus TEUR 505.2 in the previous year. At approximately EUR 2.3 million, EBITDA for the group remained stable.

"According to the Austrian Stock Corporation Law the financial statements of feratel media technologies AG form the basis for the dividend payment and report retained earnings worth 550 TEuro. The healthy situation with regard to the balance sheet for the feratel group, with a current equity ratio of 69 % and liquid resources including securities of current assets less short-term liabilities totalling 5.2 Mio. Euro, has prompted us to propose to the Annual General Meeting feratel’s first dividend payment since the corporation went public, namely 6 Eurocents per share," announced Markus Schröcksnadel, CEO at feratel media technologies AG, at the official presentation of the annual financial statements.

While feratel reported a slight increase in net sales in its core markets Austria and Switzerland - thanks to its outstanding market position and the successful launch of new products and services there -, the corporation still had to contend with a deteriorating market in Germany. The German tourism associations, which are not financed via membership fees as in Austria, were hit by severe cuts in the funds they receive from the local and regional authorities. The result was a significant drop in sales in the IRS Division in Germany. Sales for the division as a whole were accordingly down from EUR 9.3 million to EUR 7.4 million. That contrasts with an increase in sales for the Telecommunications Division from EUR 7.4 million to EUR 7.9 million, while the Media Division also improved, from EUR 1.5 million to EUR 1.9 million. Total consolidated sales for financial 2002/2003 fell by about 5 % to EUR 17.2 million. Operating revenues were also down, at EUR 19.1 million compared with EUR 19.3 million in the previous year.

feratel reacted to the recession in Germany with a strict cost-reduction program. All group activities in the country were concentrated on feratel Germany, marginal lines like ticketing were sold off, and the headcount in Germany was greatly reduced in keeping with current requirements for the market and sales volumes there. These measures were taken without detriment to feratel’s market position in Germany.

Highlights of the financial year
feratel’s focused efforts to enter the tourism growth markets of Central and Eastern Europe have started to deliver measurable results. Having taken the first steps in Hungary in the previous year, with a camera placed in Budapest and a transmission agreement signed with Hungarian national television, feratel followed up in the year under report with additional cameras located in Siofok, Sáfár, Esztergom, Visegrád and Balaton Füred. A further three cameras will be on the air in the near future. In Slovenia, feratel installed the country’s very first e-tourism solution for the Julian Alps Region.

At the beginning of this year, feratel launched an electronic private label card system in co-operation with Siemens PSE. Unlike conventional systems, a completely new kind of chip enables memory to be shared by various partners. A first pilot project was launched in the Pyhrn-Priel Region of Upper Austria in mid-May.

Outlook
In financial 2003/2004, feratel is again placing a main focus on further developing and consolidating its core markets in Austria and Switzerland. In Germany, the strategy is to maintain the corporation’s market position in spite of the problematical economic climate there. The promising initial steps taken to access new markets will be followed up on a sustainable basis.

"For the current financial year we have set ourselves the target of a slight increase in sales and a further improvement to our results in spite of continuing difficulties in terms of the general economic framework. If sales and results develop accordingly, it will again be possible to pay a dividend for the 2003/2004 business year," Markus Schröcksnadel concludes.

* before non-recurring charges

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" Consolidated Balance Sheet (in TEUR) 30.4.2003 30.4.2002 Assets Non-current assets 14,869.3 13,776.6 Deferred tax assets 1,725.9 2,354.6 Non-current receivables 218.9 330.6 Current assets and prepayments 15,751.9 20,195.4 Liabilities Shareholders´ equity 22,461.0 22,642.1 Minority interest 86.9 190.8 Long-term liabilities 1,064.6 514.6 Deferred tax liabilities 270.6 196.3 Short-term liabilities, accruals and deferred income 8,682.9 13,113.4 Balance sheet total 32,566.0 36,657.2 Consolidated Income statement (in TEUR) 2002/2003 2001/2002 Sales 17,180.4 18,170.2 Income from operations 19,157.6 19,342.1 EBITDA 2,351.9 2,314.3 EBT 61.0 -505.2* * before nun-recurring charges "

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Further inquiry note:
For further questions please contact:
Martin Fritsch, feratel media technologies AG, Maria-Theresien-Straße 8, A-6020 Innsbruck, Phone: 0043/(0)512/7280,
Fax: 0043/(0)512/7280-80, E-Mail: martin.fritsch@feratel.com
Tel: +43(0)512 7280
FAX: +43(0)512 7280 80
Email: evelyn.geiger@feratel.com

end of announcement euro adhoc

Emittent: feratel media technologies AG
Maria-Theresien-Straße 8
AT-6020 Innsbruck
Tel: +43(0)512 7280
FAX: +43(0)512 7280 80
Email: evelyn.geiger@feratel.com
WWW: www.feratel.com
ISIN: AT0000737804
WKN: 073780
Indizes: Standard Market Auction
Börsen: official dealing Wiener Börse AG; free trade Berliner Wertpapierbörse, Bayerische Börse, Baden-Württembergische Wertpapierbörse, Frankfurter Wertpapierbörse
Branche: Tourism & Leisure
Sprache: Englisch

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