Aspiro AB (publ): Interim Report, January-June 2004

Financial information for the period

· Net sales totalled SEK 31.1 m (SEK 7.2 m). Out of the net sales, SEK 19.3 m was generated during the second quarter and SEK 11.7 m during the first quarter. · Net result amounted to SEK –63.5 m (SEK –20.1 m), out of which SEK 40.0 m constituted a write-down of goodwill and SEK 10.3 constituted restructuring expenses. · Operative result (result exclusive of depreciations and write-downs and items affecting comparability) amounted to SEK –6.5 m (SEK –10.0 m). · The improved sales result was due to Aspiro’s acquisition strategy and the activities that Aspiro carried through together with mobile operators resulting in increased usage by existing customer base. An improved penetration of mobile phones with colour display and support for advanced ring signals has also contributed to the increase. · Cash flow from operating activities amounted to SEK –13.3 m (SEK –26.9 m). · Earnings per share amounted to SEK –1.63 (SEK –5.77). · Liquid assets amounted to SEK 27.5 m (SEK 9.3 m). Events after the end of the period · Aspiro finalized its acquisition of Norwegian mobile service supplier Cellus and entailing new share issues. Cellus is included in the Group as from July 1st 2004. · Cellus’ CEO, Erik Hansen, was appointed new CEO for the entire Aspiro Group. Future prospects · Aspiro estimates to achieve positive operative cash flow on a monthly basis during the year. · Net sales, during the second half of 2004, is estimated to be around SEK 95 million and the operating margin before amortisation of goodwill and restructuring expenses to be at least five percent.