Medios AG

Earnings Release • May 19, 2010

News Details

Ireland | 19 May 2010 05:00

MIM MONDO IGEL MEDIA AG: Interim Report I 2010

MIM MONDO IGEL MEDIA AG / Release of an announcement according to Article 37x of the WpHG [the German Securities Trading Act]

19.05.2010 05:00

Interim report according to Article 37x of the WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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MIM MONDO IGEL MEDIA AG is currently suffering from poor distribution
results. These are largely due to the current global economic situation,
but are exacerbated by MIM's shrinking library.

Neither MIM's sales in German-Speaking Territories and Scandinavia nor its
parent company's distribution efforts in the rest of the world have created
any effective turnover from the library in 2010. This unexpectedly weak
start to the year, combined with normal operational costs and depreciation,
leads to MIM's having used up more than 50% of its equity capital. Costs
are currently about EUR 80 k/month, of which more than EUR 50 k is
depreciation.

Some agreements already expected have been postponed and are expected by
the end of the second quarter.

There has, however, been turnover from the co-production of Laura's Star
which has covered the production costs for the partial delivery in the
first quarter 2010.

The Ordinary Shareholders' Meeting on 22 July 2010 will be used to discuss
this loss of equity capital in detail.

Management expects further revenues in each of the remaining quarters of
2010. MIM should have sufficient liquidity for all business activities due
to contracts already signed with reliable, solvent partners.

Expenses and material costs were somewhat lower than in the same period
last year, and personnel costs were reduced. Expectations are that in 2010
the company will be cash-flow positive.

The support of the main shareholder, Mondo TV S.p.A., was continued through
a subordinated loan.

MIM currently has four employees and one member of the Board of Management.

The website contains pertinent information about the company. The annual
accounts for 2009 are available online, where all future documentation will
be made available as it is published.

MIM is currently listed on the Regulated Market in Hamburg and on the Open
Market in Frankfurt.

19.05.2010 Ad hoc announcement, Financial News and Media Release distributed by DGAP.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language: English
Company: MIM MONDO IGEL MEDIA AG
Palmaille 124 B
22767 Hamburg
Deutschland
Internet: www.mim.ag

End of News DGAP News-Service

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