Splendid Medien AG

Earnings Release • Nov 30, 2001

News Details

Ad-hoc | 30 November 2001 07:27

splendid medien AG english

Splendid Medien AG in the first nine months of 2001 Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Splendid Medien AG in the first nine months of 2001 (Cologne, 30 November 2001)Splendid Medien AG of Cologne has increased its group revenues in the third quarter of 2001 by 42% to EUR15.3 mill. in comparison with the same quarter last year. Total revenues for the first nine months of 2001 reached EUR28.7 mill., 17% more than in the same period last year. Growth was achieved particularly in trading in film rights with TV companies in Germany and in the sell through video cassette/DVD sector. In the third quarter Splendid Medien AG signed licence agreements with KirchMedia and also with RTL II and so attained nine-month revenues to the sum of EUR11.0 mill. in the “Film rights trading Germany” segment. This represents an increase of 279% in comparison with the same period in the previous year. In the sell through video cassette/DVD sector, revenues amounting to EUR3.7 mill. were recorded in the first nine months of 2001. This represents an increase of 118% in comparison with the same period last year. Earnings for the first nine months of 2001 before interest, taxes, depreciation and amortization (EBITDA) amounted to EUR 16.8 mill. (EUR19.3 mill. last year). Earnings before interest and taxes (EBIT) were EUR0.3 million (EUR1.4 mill. last year). In the first nine months of 2001, Splendid achieved DVFA earnings per share of EUR0.08 (EUR0.61 last year). In particular, cost of revenues amounting to EUR19.7 mill. had a negative effect on earnings. In addition, selling and marketing expenses to the sum of EUR7.3 mill. depressed earnings. As at the end of the quarter, cash and cash equivalents amounted to EUR3.5 million. The year-end figure as at 31.12.2000 was thus exceeded by 169%. The capital to assets ratio at the Splendid Group was 77% as at the end of the third quarter. For the fourth quarter of 2001 the Group is expecting revenue growth from the sale of licence rights to television companies in Germany and from the international marketing of films. In addition, DVD and video exploitation of the cinema productions will contribute towards growth in revenues in the last quarter. On the other hand, the cinema premiere of “Gangs of New York” starring Leonardo DiCaprio has been postponed until next year because of the events in the USA on 11 September 2001. For the year 2001 the Group expects total revenues to the sum of EUR51 mill.. end of ad-hoc-announcement (c)DGAP 30.11.2001 ——————————————————————————– WKN: 727950; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 300727 Nov 01