iesy Repository GmbH - Irish Stock Exchange

SUMMARY FINANCIAL AND OPERATING INFORMATION
The tables below present certain consolidated income statement, balance sheet and other financial and operational data
of iesy and ish on the basis of German GAAP. German GAAP differs in certain significant respects from U.S. GAAP and
IFRS. See “Annex A: Summary of Certain Significant Differences Between German GAAP and U.S. GAAP” and “Annex B:
Summary of Certain Significant Differences Between German GAAP and IFRS” for a discussion of certain significant
differences between German GAAP and U.S. GAAP and IFRS. Although iesy and ish are not required to prepare cash flow
statements under German GAAP, the tables also present certain consolidated cash flow statement data of iesy and ish. The
data presented below is derived from iesy and ish’s unaudited consolidated financial information for the three months ended
March 31, 2004 and 2005 and iesy and ish’s audited consolidated financial statements including elsewhere in this Prospectus,
except for ish’s unaudited financial data for the year ended December 31, 2003.
iesy has also included certain subscriber and other operating data in the tables below. The installation of a new
information technology system and changes to iesy’s financial accounting system during the course of 2002 revealed
inconsistencies in iesy’s subscriber data necessitating data cleansing and subscriber data corrections throughout 2003, which
may affect the accuracy of subscriber and other operating data for such period. You should not place undue reliance on this
operating data, which may not be indicative of iesy’s historical or future results of operations. See “Risk Factors—Risks
Relating to Our Business—Certain of iesy’s financial information may not be representative of its actual results and its
subscriber and operating data may not be accurate. It has not provided any discussion or analysis of the iesy Predecessor’s
financial results or condition.”
The financial information presented below with respect to ish is based on the unaudited financial information for the
three months ended March 31, 2004 and 2005, the audited financial information for the year ended December 31, 2004, the
audited financial information for the year ended December 31, 2003 (including eleven months of operations for the
subsidiaries acquired on January 31, 2003), and the unaudited financial information for the year ended December 31, 2003.
The unaudited financial information of ish for the year ended December 31, 2003 is an aggregation of unaudited information
for the month ended January 31, 2003 of the operating business of ish GP, ish KG, ish KS GP, ish KS and KSG, all of which
were acquired by Kabelnetz KG 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.
We derived the financial data for the twelve months ended March 31, 2005 by adding for iesy and ish, respectively,
consolidated financial data for the year ended December 31, 2004 to their consolidated interim financial data for the three
months ended March 31, 2005 and subtracting their consolidated interim financial data for the three months ended March 31,
2004, respectively. The data for the twelve-month period ended March 31, 2005 is for informational purposes only and is not
necessarily representative of iesy or ish’s results of operation for any future period or iesy or ish’s financial condition at any
future date.
The unaudited pro forma financial data included in the tables below gives effect to the Refinancing, the ish Acquisition
and the Financing and has been derived from our historical consolidated financial information and is based on certain
assumptions and adjustments. This unaudited pro forma financial data has not been prepared in conformity with the
requirements of German GAAP, U.S. GAAP, SEC requirements or any other accounting standards. Accordingly, the
presentation, assumptions and adjustments of our unaudited pro forma financial data may differ from that permitted under
those standards. Investors are cautioned against placing undue reliance on this unaudited pro forma financial data. See
“Unaudited Pro Forma Condensed Consolidated Financial Statements of iesy.”
The information below should be read together with the financial statements and the notes to those statements included
in this Prospectus, “Operating and Financial Review and Prospects of iesy,” “Operating and Financial Review and Prospects
of ish” and “Capitalization.”
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