Splendid Medien AG

Earnings Release • Aug 30, 2002

News Details

Ad-hoc | 30 August 2002 21:41

splendid medien AG english

Splendid Medien AG in the 1st half 2002 Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Splendid Medien AG in the 1st half 2002 ·-Revenue up by 48 % to Euro 19.8m ·-EBITDA climbs to Euro 4.7m, quarterly earnings stand at Euro -9.6m ·-Earnings deflated primarily by large write-offs on securities (Cologne -August 30th, 2002) – Splendid Medien AG, Cologne, has increased revenues in the 1st half of 2002 by 48 % from the previous year to Euro 19.8m (previous year: 13.4). The most important business was license trading which accounted for a 71.2 % share of total revenue. In second place was the home entertainment business which contributed a 25.3% share of revenues, ahead of the postproduction business which made up 3.5 %. The earnings before interest, taxes, depreciation and amortization (EBITDA) increased to Euro 4.7m (prev. year: -4.5). Earnings before interest and taxes (EBIT) stood at Euro -9.5m (prev. year: 0.01). In the 1st half of 2002 the group’s revenues were Euro -9.6m (prev. year: 0.4). The earnings per share thus stood at Euro -1.08 (prev. year: 0.05). Corporate earnings were depressed primarily by large write-offs on a share package in IM Internationalmedia AG. Moreover in the first half-year, there were other advance financing outlays and start-up investments in Splendid Pictures projects. Corporate earnings for 2002 will continue to be squeezed primarily by these factors. Moreover, several films whose realization had been planned to show on the balance sheet in the fourth quarter of 2002 have experienced delays: The utilization of the in-house production by Splendid Pictures Dolan`s Cadillac ($ 20m) has been postponed to 2003. The utilization of licenses to “Gangs of New York” has also been put off to 2003. The Group’s revenue for the whole year 2002 is expected to come to roughly Euro 45m. Cash and cash equivalents stood at Euro 2.5m on the reporting date of the six month financial report. The six-month financial report is available as a download at our homepage www.splendidmedien.com. You can receive additional information from: Splendid Medien AG, Dr. Gert Fisahn, Karin Opgenoorth, Tel.: 0221-95 42 32 99/34, Gert.fisahn@splendid-medien.de, Karin.Opgenoorth@splendid-medien.de end of ad-hoc-announcement (c)DGAP 30.08.2002 ——————————————————————————– WKN: 727950; ISIN: DE0007279507; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 302141 Aug 02