Aspiro AB (publ): Year-end Report 2004

• Fourth-quarter operative earnings* were SEK 3.1 m (SEK -5.2 m). Earnings were subject to a SEK 0.5 m exchange rate loss on accounts receivable. For the same period, net earnings were SEK 1.0 m (SEK -16.0 m) and earnings per share were SEK 0.01 (SEK -0.72). • Net sales were SEK 52.1 m (SEK 5.7 m) in the fourth quarter, with normal seasonal variations resulting in fourth-quarter sales reducing by SEK 2.4 m quarter on quarter. • Liquid assets amounted to SEK 37.0 m (SEK 20.8 m) at the end of the period. Less the remaining consideration to be paid to former Cellus shareholders and restructuring provisions, liquid assets amounted to SEK 28.5 m. In the fourth quarter, Aspiro achieved positive operating cash flow, consistent with stated objectives. • Aspiro consummated two acquisitions of Norwegian mobile services providers Emode and Cellus in the year. Full-year net sales were SEK 129.5 m (SEK 18.2 m). The acquisitions contributed sales of SEK 96.0 m. • Aspiro beat its sales forecast — In connection with the acquisition of Cellus in July, Aspiro published earnings and sales forecasts for the second half-year 2004. Second half-year sales were SEK 106.5m, exceeding the forecasted SEK 95 m. The operative margin for the same period was 8%, consistent with the forecast minimum of 5%. • Aspiro’s Board of Directors has reached an agreement with media group Schibsted regarding the acquisition of mobile services provider Schibsted Mobile (Inpoc). Aspiro and Schibsted will be holding a press conference today at 11:00 a.m. to announce this transaction. For more information, please see today’s separate press release.