Medios AG

Earnings Release • Aug 28, 2001

News Details

Ad-hoc | 28 August 2001 08:00

IGEL MEDIA AG english

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Over the first six months of 2001, Hamburg-based IGEL MEDIA AG saw revenues of Euro 0.9 million (same period last year: Euro 4.3 million). The operating result (EBIT) over this period was minus Euro 1.4 million (previous year: plus Euro 0.3 million). The result from normal business activity has been shown as a Group result for the first time. It is the first time that IGEL MEDIA DISTRIBUTION Ltd., the London sales office, has been included in the accounts, which has involved the posting of extra staff costs and miscellaneous operating expenditure. Apart from that, consolidation has meant the removal of payables due to associated companies, shown on past balance sheets as liabilities. Payments made by SuperRTL during the first half-year for the German transmission rights to “The New Adventures of Lucky Luke” have not yet been posted as revenue. This figure will only be shown completely as revenue in 2002. Despite the market situation, both divisions of the company, Animation/Family Programmes and Non Fiction, saw major successes in acquisition, in programme sales and in production. Through its strategic partnership with MondoTV, which is listed on the Italian New Market, over the period under review IGEL MEDIA AG has come an important step nearer its aim of developing into an international media group. Over the second half-year marketing expects particularly good results from the sale of the cartoon series, rights for which IGEL MEDIA has obtained from MondoTV. Moreover the company expects good business from the sale of new Scandinature documentaries, including “WildFile”, an innovative programme format, and from the exploitation of merchandising rights. By building up its international market position, expanding its library and strengthening its sales position over the first six months of 2001, IGEL MEDIA has set the parameters for a successful second half-year. Despite the unsettled market situation, IGEL MEDIA expects to reach its target revenue of around Euro 7 million for the current business year, showing a neutral operating result. Financial information: IGEL MEDIA AG, Jedidiah M.Harris, Palmaille 124b, 22767 Hamburg, Tel.: +494030689610, Fax: + 494030689668, e-mail: jharris@igelmedia.de end of ad-hoc-announcement (c)DGAP 28.08.2001 ——————————————————————————– WKN: 622850; Index: Listed: Start-up Market in Hamburg; Freiverkehr in Berlin, Düsseldorf, Frankfurt, München und Stuttgart 280800 Aug 01