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ots Ad hoc-Service: TELES AG <DE0007454902> TELES AG parts with loss-making business sector

Berlin (ots Ad hoc-Service) -

Ad hoc-announcement edited and sent by DGAP. The sender is solely
responsible for the contents of this announcement.
Within the scope of the TELES Group's reorientation towards
value-added Internet services the Management Board has decided to
discontinue a formerly focal but now loss-making business area (ISDN
PBXs and ISDN terminal devices).
This discontinuation decision has far-reaching consequences for
the Group earnings. On the one hand the Group net result will not be
as expected due to one-time closing costs. But on the other hand the
discontinuation according to US-GAAP will remove from the total Group
EBITDA result the EBITDA loss of the discontinued business area. This
results in a positive Group EBITDA 2000, a significant substantiation
and improvement (as compared to the issued quarterly reports) in the
most important company performance indicator for forecasting the
Group profit 2001. The TELES Group was thus - not taking the
discontinued business into account - operatively profitable again in
this year.
Revenues in the Group in the year 2000 were planned at around DM
500 million. As has always been stressed, this revenue goal was set
under the assumption that the acquisition of a further suitable
trading company would be carried out this year. This goal can no
longer be achieved this year. Therefore Group revenues in 2000 would
amount in the first instance to approx. DM 365 million. From these
total Group revenues, US-GAAP requires the removal of the revenues of
the discontinued business area in the current year amounting to
approx. DM 36 million. Group revenues for 2000 will thus amount to
over DM 325 million.
Prof. Sigram Schindler CEO of TELES AG
End
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