9-month-report confirms positive company performance
Munich, 28 October 2004 – The 9-month result of telegate impressively confirms the growth course of the European directory enquiries provider: revenues as well as profitability are continuing to grow consistently. In the reporting period, revenues grew considerably to €124.9 million (9 months 2003: €97.8 million), which corresponds to an increase of around 28%. Both business segments – Germany/Austria and International – contributed to the Group’s positive performance. However, significant growth momentum came from the International segment. Here, revenues almost tripled year-on-year to €37.9 million (9 months 2003: €13.9 million), and now contribute 30% to consolidated revenues.
Earnings before interest, taxes, depreciation and amortisation (EBITDA) total €22.5 million (9 months 2003: €15.2 million). With an EBITDA margin of 18%, telegate AG has again improved its profit margin (9 months 2003: 16%). Taking into account extraordinary non-recurring income of €7.8 million resulting from the deconsolidation of the US business, net income for the period quadrupled in the first nine months of 2004 to €20.7 million (9 months 2003: €5.1 million). The free cash flow more than doubled in the reporting period and now amounts to €26.0 million (9 months 2003: €10.8 million). Consequently, the debt-free company has free cash funds of €30.5 million as at 30 September 2004.
The strong positive business development of the telegate Group is also underlined by the financial statements of the third quarter, with double-digit growth in revenues as well as profit. Revenues rose to €43.1 million (Q3 2003: €37.0 million). The quarterly post-tax profit increased to €4.5 million (Q3 2003: €4.0 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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