Ad hoc / Announcements

04th August 2008

TELES: Q2 results − highest quarterly and half yearly revenues since 2003; though operating results are negative, they have improved compared to prior quarters

Berlin, 4th August 2008. All in all, Revenues in Q2/2008 and in the first half year of 2008 respectively increased compared to the prior year quarter and half year by 68% and 41% respectively. Thus, they were the highest quarterly and half yearly revenues since 2003 in the operating business. The operating quarterly loss (EBIT) improved slightly to -2.4 Mio€ (prior year: -2.7 Mio€). In addition, the total result is influenced by a necessary value adjustment amounting to about 13 Mio€ in connection with the freenet shares held by TELES.

The key data for TELES for Q2/2008 (in accordance with IFRS, unaudited) can be summarized as follows:

Revenues: 6.6 Mio€ (in Q2/2007: 3.9 Mio€, +68%),
Gross Profit: 3.2 Mio€ (in Q2/2007: 2.2 Mio€, +46%),
EBITDA: -2.0 Mio€ (in Q2/2007: -2.6 Mio€),
EBIT: -2.4 Mio€ (in Q2/2007: -2.7 Mio€),
EBT: -15.6 Mio€ (in Q2/2007: -2.4 Mio€).

Additionally, two further very important key figures at the end of the period under review are emphasized:

Cash and cash equivalents decreased to 1.3 Mio€ as at 30th June 2008. In addition, TELES still owns 3.6 million freenet shares and almost 2.2 million treasury stock with a current total market value of about 47 Mio€.
The equity ratio amounted to 77%.

Prof. Dr.-Ing. Sigram Schindler
CEO of TELES AG