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TELES: Q1 Results - Operating Losses in Line with Growth Forecasts

This information is released in accordance with § 13 section 1 and § 15 section 1 of the German Investor Protection Improvement Act (AnSVG).

With an EBT of € -2.8 million, operating losses at TELES AG in Q1/2005 were in line with growth forecasts. On the other hand, net earnings amount to € 122.1 million related to extraordinary income from the sale of the WebHosting Segment to freenet.de AG.

The key data at TELES for Q1/2005 (in accordance with IFRS, unaudited) can be summarized as follows:

• Revenues: € 6.1 million (in Q1/2004: € 5.9 million, +3%),
• Gross Profit: € 2.4 million (in Q1/2004: € 3.1 million, -24%),
• EBITDA: € -2.9 million (in Q1/2004: € -0.80 million),
• EBIT: € -3.2 million (in Q1/2004: € -1.1 million),
• EBT: € -2.8 million (in Q1/2004: € -1.0 million).

Attention is drawn to two very important key figures:

• Cash and cash equivalents had increased to € 105.5 million at the end of Q1/2005 (€ 50.0 million at the end of Q4/2004). In addition, TELES owns 3.1 million freenet shares and almost 2.2 million treasury stock.
• The equity ratio amounted to 84 % at the end of the period under review.

Professor Sigram Schindler
CEO of TELES AG