January 12, 2011

TELES: Q3/2010 – Weak „Holiday“-Quarter

Revenues to decrease by half YOY

Adhoc Notification by TELES AG Informationstechnologien pursuant to Sect. 15 of the German Securities Trading Act (WpHG)

Berlin, January 12, 2011. In particular due to a weak "Holiday"-Quarter (Q3/2010) the revenues of 10.7 Mio. € decreased by 33 % within the first nine months of 2010 compared to the previous year value. In spite of a total cost reduction by 18 %, the operating loss (EBIT) increased compared to the previous year 3-quarter period due to the weak revenues in Q3/2010 and due to a one-time severance charge in the amount of 0.5 Mio. €.

The key data of TELES for Q3/2010 (in accordance with IFRS, unaudited) at a glance:

  • Revenues: 3.0 Mio. € (5.7 Mio. € in Q3/2009, -48 %)
  • Gross Profit*: 0.4 Mio. € (2.6 Mio. € in Q3/2009, -76 %)
  • EBITDA*: -2.5 Mio. € (-0.1 Mio. € in Q3/2009)
  • EBIT*: -2.9 Mio. € (-0.4 Mio. € in Q3/2009)
  • Equity Ratio: As already reported amongst others in the Annual Report 2009 the majority shareholder waived the redemption of parts of his granted loans whereupon debtor warrants have been agreed. Subject to IFRS debtor warrants have to be evaluated. Insofar the loan waiver does not result in a corresponding higher Equity Ratio in the IFRS statements. Consolidated Statements according to HGB would show an Equity Ratio of about +42 %. According to IFRS – in consideration of the debtor warrants – the ratio would amount to -0.6 % (12 % at the end of H1/2010).

* The above mentioned items comprise a one-time severance charge in the total amount of 0.5 Mio. €; EBIT and EBITDA without expenditures of employee stock option plans.

You can find the entire Quarterly Report Q3/2010 at www.teles.de on January 13, 2010.

Prof. Dr.-Ing. Sigram Schindler