Intertainment AG — Earnings Release 2001

Nov 23, 2001

News Details

Ad-hoc | 23 November 2001 08:00

Intertainment AG english

At the end of September 2001 Intertainment AG had a surplus of 9 m DM Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– At the end of September 2001 Intertainment AG had a surplus of 9 m DM Intertainment-subsidiary terminates contract with film group Ismaning near Munich, 23 November 2001 – In the first nine months of the current financial year, 2001, Intertainment AG of Ismaning near Munich achieved a surplus of 9 m DM/4.6 m Euro. In the same period of the previous year Intertainment achieved a surplus of 24.3 m DM/12.4 m Euro. The first three quarters were characterised by an extraordinary result of 25.9 m DM/13.2 m Euro. In June 2001 Intertainment AG achieved a waiver of a claim by a credit institution worth up to 108 m DM/55.2 m Euro in connection with the legal action against Franchise Pictures and by 30 September 2001 this had an effect of 90.7 m DM/46.4 m Euro. In the period under review Intertainment AG had formed provisions for risks totalling DM 64.8 m/33.2 m Euro Mio Euro. Due to the legal action against Franchise Pictures turnover totalled 38.5 m DM/19.7 m Euro (in the first nine months of 2000: 145.3 m DM/74.3 m Euro). The result before interest and tax (EBIT) was 12.2 m DM/6.2 m Euro (63.4 m DM/32.4 m Euro), taking account of the extraordinary result. The pre-tax result was 14.6 m DM/7.4 m Euro. This result takes account of the extraordinary result. Intertainment AG had an operating result of minus 13.7 m DM/7 m Euro (63.4 m DM/32.4 m Euro). At the end of September 2001 the company’s funds amounted to 29.6 m DM/15.1 m Euro. Intertainment has accounts receivable from trade debtors to the sum of 155.4 m DM/79.5 m Euro Mio. Due to the recently announced insolvency of the British media company, Filmgroup PLC (formerly Redbus Filmgroup Ltd), London, Intertainment Licensing GmbH will be terminating the contract between the companies formed in April 2000 concerning the sale of film rights for the British territory. This will not have an effect on results. All provisions were already made in 2000. The licensed rights will revert to Intertainment and can be resold. end of ad-hoc-announcement (c)DGAP 23.11.2001 ——————————————————————————– WKN: 622360; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, München und Stuttgart 230800 Nov 01