euro adhoc: feratel media technologies AG
Continued growth in financial 2001/02 - Non-scheduled goodwill amortization based on a conservative assessment of the media market (E)
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
Innsbruck, 9 July 2002. For financial 2001/2002 feratel media technologies AG report continued growth in line with expectations. The provisional figures reflect a 22% increase in consolidated sales to EUR 18,2 million.
In accordance with the corporations cautious financial presentation policy and following a re-appraisal of the media market, the feratel Board has decided to include in the 2001/02 financial statements an item for non-scheduled goodwill amortization totaling approximately EUR 12,5 million.
This measure relates to holdings with business models based on strong growth in mobile and Internet content. The decision has been taken in response to the delayed introduction of new mobile communications technologies and figures showing Internet content sales to be falling short of predictions.
This goodwill amortization item has no influence on either feratels operative business or liquidity; it is a purely technical extraordinary balance sheet item. For the future, the corporation continues to look forward to growth in its core business in telecommunications and IRS, and a substantial improvement in sales and results. The exact value of this nonrecurring adjustment is currently being determined in co-operation with the auditors.
feratel media technologies will be reporting on further details relating to the past business year and to future developments at the balance sheet press conference to be held on 19 July 2002.
end of announcement euro adhoc 09.07.2002
Further inquiry note:
Queries to: Dr. Markus Schröcksnadel, Chairman of the Board, tel. 0043/(0)512/7280-407,
e-mail markus.schroecksnadel@feratel.com
Branche: Tourism & Leisure
ISIN: AT0000737804
WKN: 73780
Index: ATX Prime, ViDX, WBI
Börsen: Baden-Württembergische Wertpapierbörse / free trade
Bayerische Börse / free trade
Frankfurter Wertpapierbörse / free trade
Handelsüberwachung der Berliner Wertpapierbörse / free trade
Wiener Börse AG / official dealing
Original content of: feratel media technologies AG, transmitted by news aktuell