First Half Year 2004-Again significant growth in revenue and profit
telegate AG closed the first half-year 2004 with the fifth successive positive earnings quarter. During the first six months, the company generated net profit of EUR 16.2 million (HY1 03: EUR 1.1 million). This includes an extraordinary, non-cash book profit of EUR 7.8 million resulting from the deconsolidation of US business as has been previously announced. After adjusting from the non- recurring payment, quarterly results were still considerably up on the first quarter of 2004.
In the reporting period, revenues increased by 34 percent year-on-year and totalled EUR 81.8 million (HY1 03: EUR 60,8 million). This growth is mainly driven by telegate's International segment: Revenues nearly tripled to EUR 23.7 million against the same period last year (HY1 03: EUR 8.2 million) and are now contributing 29 percent to the group turnover. Earnings before interest, taxes, depreciation and amortization (EBITDA) increased to EUR 14.0 million (HY1 03: EUR 8,0 million). An EBITDA-margin of 17 percent in the first half-year 2004 again underlines telegate's increasing and sustainable profit margin. (HY1 03: 13 percent).
With the positive free cash flow amounting to EUR 17.0 million in the first six month 2004 (HY1 03: EUR 4.7 million), telegate further improved its net financial position. As of 30 June 2004, the company has cash and cash equivalents of around EUR 22 million.
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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