Success continued in the first half–year 2005
Munich, July 27, 2005 - In the first half-year 2005, telegate's net income further increased to €16.5 million compared to €16.1 million in the first half-year 2004. This increase in results is significant with regard to previous year's level after elimination of one-time effects from the deconsolidation of U.S. operations amounting to €7.8 million - compared directly, net income almost doubled. In total, telegate Group generated revenues of €69.7 million in the first half-year, reporting stable revenue compared to the previous year (HY1 2004: €69.8 million). Strong revenue in the second quarter compensated for the slight decline from the first quarter.
EBITDA increased by nearly 30% to €22.0 million in the first half-year 2005 compared to €17.0 million in the first half-year 2004. Liquid assets increased significantly by €14 million during the first six months of the year. telegate thus has cash and cash equivalents amounting to €48.8 million as of June 30, 2005, compared to €21.7 million as of June 30, 2004, and, for the first time, an equity ratio of more than 50% compared to 38% end of June, 2004. These very strong financial resources form a reliable basis for implementing the telegate group's growth plans.
Press contact:
telegate AG
Claudia Strixner
Head of Public Relation
Fraunhoferstr. 12a
D-82152 Martinsried, München
Tel.: (089) 89 54-1180
Fax: (089) 89 54-1189
E-Mail: presse@telegate.com
www.telegate.com
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