DGAP-News

net mobile AG reports significant losses in the financial year 2013

DGAP-News: net mobile AG / Key word(s): Final Results/Development of
Sales
net mobile AG reports significant losses in the financial year 2013

07.07.2014 / 15:27

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CORPORATE NEWS

net mobile AG reports significant losses in the financial year 2013

EBIT registers a loss of EUR 47.6 million

Operating losses total about EUR 7 million

Turnover rises by 5% to EUR 130,497 thousand

Dusseldorf, July 7, 2014 - One of the leading international providers of
mobile value-added services and payment solutions, net mobile AG (ISIN:
DE000813852) announced its results for the financial year 2013 today.
Worldwide clients include national and global mobile telecommunication
providers, media companies, portals, brand name companies as well as TV
channels, for which complete white label solutions such as direct carrier
billing and mobile television services are provided.

During the previous reporting year, the Executive Board expected a negative
result in the single millions combined with reduced sales for the financial
year 2013. However, turnover in 2013 developed more positively than
expected with EUR 130,497 thousand - mainly due to new customers in the
mobile payment sector, and by attracting new customers for the products
such as Direct Carrier Billing. Earnings before interest and taxes (EBIT)
at EUR -47,586 thousand were, however, significantly lower than originally
forecasted. The reason for this high deviation in earnings were exceptional
depreciations on intangible assets totalling EUR 4,540 thousand. In
addition, goodwill impairment of EUR 1,000 thousand was recorded in the
Segment "Voice". Furthermore, this deviation was caused by significant
increases in write-downs on receivables totalling EUR 34,000 thousand. The
bulk of the allowance for write-downs stemmed from a bankruptcy declared by
a customer of the net-m privatbank 1891 AG as the risk of default for a
part of the asset portfolio is estimated to be more than 50%. However, this
receivable was purchased by net-m's majority shareholder, DOCOMO
Deutschland GmbH at its face value and therefore resulted in no cash impact
on the net mobile Group. Consequently the actual operating loss for 2013 is
a relatively small proportion and lies at about EUR 7 million.

In the last financial year, the volume of depreciation increased by EUR
8,127 thousand to EUR 17,150 thousand. This is due to exceptional
depreciation of EUR 4,540 thousand, further write-offs on self-developed
software amounting to EUR 1,139 thousand and goodwill impairment of EUR
1,000 thousand in the Segment "Voice".