Aspiro AB (publ): Interim Report, January - September 2005

Third Quarter—Pronounced Summer Effect Boosts Sales by 10%

■ Third-quarter net sales were SEK 111.3 m (SEK 54.5 m). ■ Sales increased 10% quarter on quarter, gains due to factors including normal seasonality. The effect of the summer was very pronounced in the third quarter, with robust sales in July and August, and as expected, a somewhat weaker September. ■ EBITDA was SEK 11.4 m (SEK 4.6 m) in the third quarter, EBITDA increased by SEK 3.4 m quarter on quarter. ■ Third-quarter net earnings were SEK 5.4 m (SEK 2.1 m); earnings per share were SEK 0.03 (SEK 0.02). ■ Consolidated liquid assets were SEK 90.0 m (SEK 48.3 m) at the end of the period, and SEK 34.0 m of the purchase price for the acquisition of Boomi has been paid. Third-quarter cash flow from operating activities before change in working capital was SEK 6.9 m (SEK 3.3 m). ■ Aspiro announced its acquisition of Boomi—one of Finland’s largest players in mobile content services—on 20 September. Boomi is expected to contribute annualized sales of some SEK 45 m and EBITDA of SEK 9 m. Boomi has been consolidated from 1 October. ■ There are 189,538,115 Aspiro shares after a new issue consummated coincident with the acquisition of Boomi. ■ Aspiro anticipates continued seasonal sales variations. The third quarter is Aspiro’s strongest in sales and earnings terms and Aspiro expects that as in previous years, earnings will be lower in the fourth quarter than in the third.