STOCKHOLM, Sweden, Jan. 28, 2005 (PRIMEZONE) -- Effnet:
YEAR END REPORT January -- December 2004
2004 2003 prof.* 2004 prof.* 2003 prof.*
Oct-Dec Oct-Dec Full year Full year
Net sales, 8.5 3.4 27.3 20.8
MSEK
Operating 0.0 -3.0 -6.5 -12.0
result, MSEK
Net result 0.1 n.a. n.a. n.a.
for the
period, MSEK
Cash flow, 0.9 -4.5 -9.2 -13.3
MSEK
* prof = pro forma. n.a. = not applicable. For explanation of the pro forma accounts, se page 4.
- For the first time in Effnet's history, positive results and positive cash flow was acheived on a quarterly basis.
- The structural changes completed in July 2004 has resulted in a increase in shareholder value of 38 percent. Since mid-year operations have been cash flow neutral.
- Net sales for the period October-December 2004 increased by 150 percent to MSEK 8.5 (same period 2003 pro forma 3.4). For the full year net sales proforma increased by 32 per cent to MSEK 27.3 (20.8).
- Digital Broadcasting showed strong growth in 2004. Net sales increased by 61 percent and amounted to MSEK 25,6 (15,9). Order intake increased by 41 per cent.
- The recovery for Header Compression continued during the last six months with a test license sold to KDDI, one of Japan's leading mobile phone operators. Net sales for the year amounted to MSEK 1.7 (4.9)
- The Annual General Meeting will be held on Wednesday April 27, 2005. The Board proposes that no dividend will be paid.
Events after the end of the year
- January 2005 saw the announcement of an important order of a complete DAB system to Factum Electronics from the Flemish broadcasting company VRT in Belgium.
For further information, please contact: Hans Runesten, CEO, +46 (0)8 564 605 50 or +46 (0)702 80 26 26, Krister Moberger, CFO, +46 (0)8 564 605 50 or +46 (0)8 564 611 02 or visit the website: www.effnetholding.se
The Annual Report will be available at the copmany's head office in April, when it also may be ordered. The next report for will be the Interim Report for January-march, 2005, due for release on April 26, 2005.
Effnet Holding AB, corporate identity number 556526-6516, is located in Stockholm, Sweden. Address: Box 15040, 167 15 Bromma.
The company's stock was introduced on the New Market list in July, 2004 and is traded on the Stockholm Stock exchange
This information was brought to you by Waymaker http://www.waymaker.net
The following files are available for download:
http://wpy.waymaker.net/client/waymaker1/WOLReleaseFile.aspx?id=67556&fn=wkr0001.pdf
The full report