Ad hoc / Announcements

01st April 2009

TELES Results 2008: Revenues up on previous year; Results heavily burdened as a consequence of extraordinary value adjustment of former freenet stock

Ad hoc Shareholders'/Press Release in accordance with §15 WpHG

Berlin, 1st April, 2009. Compared to the previous year, revenues in the continuing infrastructure business division TCS could be significantly increased. This has been the highest revenue within a year since 2003. EBITDA continuing to show a negative result, but has improved due to revenue increases. However, overall results were heavily burdened especially as a consequence of the one-off value adjustment (approx. 22 Mio€) to the freenet shares previously held by TELES which were all sold at the end of August 2008.

In addition, the result was burdened by further expense increases – even if reduced compared to previous years – for the enforcement of the strategically important VoIP patents of TELES.

The key data of TELES continuing operations for 2008 (in accordance with IFRS, unaudited) can be summarized as follows*:

•    Revenues: 23.8 Mio€ (19.2 Mio€, +24%),
•    Gross Profit: 10.9 Mio€ (9.6 Mio€, +13%),
•    EBITDA: -10.0 Mio€ (-12.0 Mio€),
•    EBIT: -13.8 Mio€ (-12.9 Mio€),
•    EBT: -35.6 Mio€ (9.6 Mio€).

(*prior year figures in brackets)

Attention is drawn to two further very important key figures:

•    At 31st December 2008 − and thus after a dividend payment of 1.00 € per share, which corresponds to a total of 21.1 Mio€ − Cash amounted to 2.6 Mio€ (previous year 7.6.Mio€). Furthermore, TELES owns almost 2.2 million treasury stock.

•    The equity ratio amounted to 53% as at 31st December 2008.

The complete and audited Annual Report 2008 will shortly be published on www.teles.com.

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