Intertainment AG — Earnings Release 2004

Apr 29, 2005

News Details

Ad-hoc | 29 April 2005 20:55

Intertainment AG: Intertainment Increases Sales and Loss

Ad hoc announcement §15 WpHG Results Intertainment AG: Intertainment Increases Sales and Loss Ad hoc announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. —————————————————————————— Intertainment Increases Sales and Loss Deterioration of the result in the fiscal year 2004 in particular due to write-down of shareholding and exchange-rate development Ismaning near Munich, 29 April 2005 – The media company Intertainment AG, Ismaning near Munich, significantly increased sales in the fiscal year 2004. At the same time, the loss for the year increased substantially. Group sales rose during the year overall to 17.9 million euros, after 6.0 million euros in the previous year. The increase in sales is primarily due to disposal of the license rights in the film “Twisted”. In this connection, the cost of materials went up to 17.1 million euros. It includes scheduled amortization of these license rights. Personnel expenses amounted to 2.2 million euros and fell by 0.9 million euros compared with the previous year. The accumulated loss increased to -22.2 million euros after -14.1 million euros in the previous year. Earnings before Interest and Taxes (EBIT) deteriorated from -8.9 to -21.3 million euros. Overall, this earnings performance is primarily due to complete write-down of the shareholding in SightSound Technologies amounting to 15.0 million euros due to increased uncertainties compared with the previous year. Furthermore, a reduction of 4.0 million euros in the claims for damages against Franchise Pictures and other parties due to the exchange rate also impacted negatively on the result. Other operating expenses experienced a positive development. The comprehensive savings and reorganization measures implemented by Intertainment reduced this item by 9.9 million euros to 2.3 million euros. At the balance-sheet date, Intertainment reported claims for damages against Franchise Pictures and other parties amounting to 59.1 million euros and disposed over cash and cash equivalents totaling 1.7 (prior year 2.1) million euros. This is compared with provisions amounting to 27.2 (prior year 33.1) million euros and liabilities of 1.0 (prior year 2.8) million euros. Equity capital amounted to 37.9 (prior year 59.8) million euros on December 31, 2004. The equity ratio was 45 % after 53 % in the prior year. End of the press release Intertainment AG Osterfeldstraße 84 85737 Ismaning Deutschland ISIN: DE0006223605 WKN: 622360 Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart End of ad hoc announcement (c)DGAP 29.04.2005 Issuer’s information/explanatory remarks concerning this ad hoc announcement: Contact: Intertainment AG, Investor Relations, Osterfeldstrasse 84, 85737 Ismaning, Germany; Telephone: +49 (0)89 21699-0, Fax: +49 (0)89 21699-11, Internet: http://www.intertainment.de , E-Mail: investor@intertainment.de End of message (c)DGAP 292055 Apr 05