STOCKHOLM, Sweden, August 12, 2003 (PRIMEZONE) -- Song Networks Holding AB (Other OTC:SONWF)(Stockholmsborsen:SONW)
Positive cash flow in the second quarter and continued improvements of profitability in operations
-- Revenues were SEK 1,160 million (1,149 the corresponding period the previous year). Revenues from high margin services as data and Internet increased with approximately 15% compared with the first six months of 2002 while low margin services as voice and other decreased. Revenues for the second quarter of 2003 were SEK 581 million (559).
-- Gross margin before depreciation was 43.1% (40.4). Gross margin before depreciation for the second quarter of 2003 was 43.5% (40.7).
-- EBITDA improved the first six months of 2003 to SEK 40 million (-80). EBITDA for the second quarter of 2003 was SEK 26 million (-33).
-- EBIT for the period improved to SEK -61 million (-585). EBIT for the second quarter of 2003 was SEK -17 million (-286).
-- Cash flow for the period was SEK 296 million (-155). Cash flow for the second quarter of 2003 was positive with SEK 9 million (-236).
-- Net result for the period was SEK 20 million (-2,209).
-- Result per share for the period was SEK 0.40 (-1,332).
-- Liquid assets amounted to SEK 560 million at the end of the period (344), including restricted cash. Financial net cash amounted to SEK 423 million (-4,914).
Corporate information Principal executive office: Song Networks Holding AB Box 712 SE-169 27 Solna, Sweden Enquiries: Tomas Franzen, CEO Tel: +46 8 5631 01 11 E-mail: tomas.franzen@songnetworks.net Joachim Jaginder, CFO Tel: +46 8 5631 01 99 E-mail: joachim.jaginder@songnetworks.net Gustav III:s Boulevard 18 Phone: +46 8 5631 00 00 Telefax: +46 8 5631 01 01 www.songnetworks.net
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