PRESS RELEASE

Drillisch AG:

Group figures for the financial year 2002


24 March 2003
At 6.6 million euros EBITDA continues to demonstrate a sequentially upward trend on a quarter-to-quarter 2002 comparison; net income for the year of 0.65 million euros following a net loss of
13.9 million euros in 2001
Drillisch AG today announces the finalised figures for the Group for the financial year 2002. According to these, the company achieved positive results on all operative figures in 2002. EBITDA rose from -4.3 million euros (2001) to +6.6 million euros in 2002. Despite difficult market conditions Drillisch AG was able to increase EBITDA on a quarter-to- quarter comparison. In the fourth quarter 2002 alone, the company generated EBITDA of 2.5 million euros, following 1.4 million euros in the third quarter 2002. Group revenue weakened by 16.5 percent to 144.5 million euros as a result of declining wholesale figures for mobile handsets. The average revenue per user (ARPU), on the other hand, increased by about 8 percent between January and December 2002. The group sales increased from 31.7 million euros (Q1/02) and 38.8 million euros (Q2/02) to 37.4 million euros (Q3/02) and 36.6 million euros in the fourth quarter 2002.
Drillisch AG also demonstrated enormous earnings strength on a sequential quarter-to-quarter 2002 comparison. EBIT rose from 377,000 euros (Q1/02), 474,000 euros (Q2/02) and 401,000 euros (Q3/02) to 1.6 million euros in Q4/02, equivalent to 2.85 million euros in total for the year
2002. The sequential increase in quarterly net income also continued into the fourth quarter 2002, with annual net income increasing from 5,000 euros (Q1/02) and 93,000 euros (Q2/02) to 117,000 euros in the third and
438,000 euros in the fourth quarter 2002: Impressive proof on the part of
Drillisch AG that the turnaround was sustained into the fourth quarter
2002. As such, annual net income for the year 2002 amounts to 0.65 million euros, following -13.9 million euros in 2001.
As already reported, all bank loans and overdrafts existing as at
31.12.2001 in an amount of 8.4 million euros have been repaid in full. As at the balance sheet date 2002, the Drillisch Group even holds cash assets of 2.5 million euros. Total subscriber numbers amounted to
620,000 at the end of 2002.

Contact


Drillisch AG
Dipl.-Volksw. Charlotte C. Heidrich
Horbeller Straße 31, D-50858 Köln
Telefon: +49 2234/9365-150, Telefax: -158 e-mail: presse@drillisch.de
Internet: www.drillisch.de
Place of business:
Wilhelm-Röntgen-Strasse 1-5, D-63477 Maintal

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