iesy Repository GmbH - Irish Stock Exchange

SELECTED FINANCIAL AND OPERATING INFORMATION OF ISH
The tables below present the consolidated income statement, balance sheet and other operational data of ish as of and
for the three months ended March 31, 2004 and 2005 and as of and for the years ended December 31, 2003, including eleven
months of operations for the subsidiaries acquired on January 31, 2003 (“Audited year ended December 31, 2003 (including
eleven months of operations)”), and 2004 (“Audited year ended December 31, 2004”) on the basis of German GAAP.
Although cash flow statements are not required under German GAAP ish has prepared, and the tables also present, ish’s
consolidated cash flow statement data for the years ended December 31, 2003, including eleven months of operations for the
subsidiaries acquired on January 31, 2003, and 2004.
The consolidated income statement, consolidated cash flow statement and consolidated balance sheet of ish for March
31, 2004 and 2005 and for December 31, 2003, including eleven months of operations for the subsidiaries acquired on
January 31, 2003, and 2004 are derived from ish’s unaudited consolidated financial information and its audited consolidated
financial statements included elsewhere in this Prospectus.
In addition, the tables include unaudited financial information for the year ended December 31, 2003 (“Unaudited year
ended December 31, 2003 (including aggregated twelve months of operations)”) which is an aggregation of unaudited
information for the month ended January 31, 2003 of the operating business of ish GP, ish KG, ish KG GP, ish KS and KSG,
all of which were acquired by Kabelnetz on January 31, 2003, and the audited consolidated financial information for the year
ended December 31, 2003 of ish, including eleven months of operations for the subsidiaries acquired on January 31, 2003.
We have included the unaudited financial information for the year ended December 31, 2003 because it may be more
useful for investors in comparing ish’s financial results in 2003 and 2004. Audited consolidated financial information does
not exist in relation to ish’s business prior to the 2003 ish Acquisition in January 2003, and comparability of actual
information would also be limited because only the non-operating subsidiaries of ish, Kabelnetz GP and Kabelnetz KG were
included in the consolidated ish financial statements prior to the 2003 ish Acquisition.
The unaudited financial information for the year ended December 31, 2003 has not been prepared in conformity with
German GAAP, U.S. GAAP, SEC requirements or any other accounting standards. Accordingly, the presentation,
assumptions and adjustments of this unaudited financial information may differ from that permitted under those standards,
and the unaudited financial information does not include adjustments to reflect the effects of purchase accounting or other
adjustments that may be necessary under those standards to reflect the effects of the acquisition discussed above as if it
occurred on January 1, 2003. The unaudited financial information may not be representative of the actual results that would
have occurred had the acquisition occurred on January 1, 2003. Investors are cautioned against placing undue reliance on this
unaudited financial information.
106