Marburg, August 4th 2008 – The upwards trend in the profits of 3U HOLDING AG also continued in the second quarter.
In line with the authoritative accounting provisions of the International Financial Reporting Standards (IFRS), the sales revenues of LambdaNet and of the subsidiaries in Austria and the USA – as so-called “held for sale” companies – were not included in the consolidated reporting entity, merely their aggregated balance-sheet values and the results for the period. In accordance with these provisions, the depreciation at the “held for sale” companies was neutralized at group level.
Even though the turnover slightly decreased, the profit for the first half of 2008 increased in comparison with the comparable period in the previous year by € 7.41 million to € 4.40 million. Investments in the fixed-line telephony sector contributed € 3.18 million to profits. Compared with the same period last year, profits in this sector increased by 780% (comparative period in the previous year € 0.36 million).
Consolidated Sales as of June 30th, 2008 resulted from the fixed- line telephony sector only. With € 36.47 million, this was only slightly (2.2%) below the turnover for the first half of 2007 (€ 37.28 million).
The positive outcome of the systematic focus on profit in the fixed-line telephony sector can also be seen in the other profit figures. Earnings before interest, taxes and depreciation (EBITDA) from ongoing operations increased in comparison with the first half of 2007 by € 2.54 million from € 0.80 million to € 3.34 million. Earnings before taxes (EBT) increased from € 0.38 million in the first six months of 2007 to € 3.64 million in the same period of 2008. As a result of these good results the profit forecast for the fixed-line telephony sector is being increased. This sector is now expected to contribute approximately € 5 million to group profits.
In the period under review the profit per share was € 0.09 (comparative period last year € -0.06). The equity ratio has also improved again, increasing from 38.81% in the first six months of 2007 to its current level of 47.00%.
In spite of further repayment of loans by LambdaNet amounting to € 2.31 million, the liquid and near-liquid assets of the 3U Group remained unchanged at € 35.49 million compared with March 31st, 2008 (€ 35.48 million).
Contact
3U HOLDING AG
Neue Kasseler Str. 62F D-35039 Marburg
phone: +49 6421 999-1200
fax: +49 6421 999-1998
e-mail: ir@3u.net