euro adhoc: MIM MONDO IGEL MEDIA AG / Quarterly or Semiannual Financial Statements / MIM AG Raises Revenues 225%, EBITDA Positive Again in First Half-Year; Capital Reduction Completed (E)

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MIM MONDO IGEL MEDIA AG published its results today for the first six months of 2004. Besides increasing turnover more than threefold over the first half of last year to EUR1 million (2003: EUR310k), the cost-reductions implemented by the new management helped raise the EBITDA to EUR692k at the end of the second quarter (2003: EUR-279k).

As of 28 July 2004, the capital reduction which was decided upon by the Annual Shareholders’ Meeting on 5 April 2004 is registered with the Hanseatische Wertpapierbörse Hamburg. The first day’s trading of the new ISIN DE000A0BVUP8 closed with a price of EUR1.40.

"These results make it clear that MIM AG is now on the right path," says Riccardo Corradi, CEO of MIM AG. "Our growing importance in the market as a German co-producer and distributor will add to our value. We will be a viable, meaningful force in the future. Our direct and declared goal is to attain a share of the entertainment market in Germany for MIM. We are definitely and obviously on the right path, a path that is clearly different from the past."

Further inquiry note:
jharris@mim.ag
Tel: +49(0)40 306896 0
FAX: +49(0)40 306896 68
Email: info@igelmedia.com

Emittent: MIM MONDO IGEL MEDIA AG Palmaille 124 b DE-22767 Hamburg Tel: +49(0)40 306896 0 FAX: +49(0)40 306896 68 Email: info@igelmedia.com WWW: www.igelmedia.com ISIN: DE0006228505 WKN: 622850 Indizes: Börsen: regulated dealing Hamburger Wertpapierbörse; free trade

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Berliner Wertpapierbörse, Bayerische Börse, Börse Düsseldorf, Baden-Württembergische Wertpapierbörse, Frankfurter Wertpapierbörse Branche: Media
Sprache: Englisch

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