Splendid Medien AG: consolidated financial accounts for financial year 2005

Press release - March 27, 2006

(Cologne, 27 March 2006) - In the financial year 2005, Splendid Medien AG, Cologne, achieved group sales revenue in the amount of 20.3 million Euro (previous year: 23.0 million Euro). The company registered an annual profit for the Group in the amount of 2.1 million (previous year: -0.7 million Euro). The most important business division was home entertainment, with a share of 77% of overall sales. In second place came post-production, at 13% of sales, and then license trade, with a sales share of 10%.

Consolidated earnings before interest, taxes, depreciation and amortisation (EBITDA) amounted to 4.9 million Euro (previous year: 5.0 million Euro). Earnings before interest and taxes (EBIT) significantly increased by 3.6 million Euro, to 1.9 million Euro (previous year: -1.7 million Euro).

At 15.6 million Euro (previous year: 13.4 million Euro), the home entertainment business division achieved substantial growth compared to 2004. The post-production area also continued its positive trend of the past years and increased sales to 2.7 million Euro (previous year: 2.4 million Euro). In 2005, the license trade business division achieved sales in the amount of 2.0 million Euro (previous year: 7.2 million Euro). The drop in sales is a direct result of the reduction of the investment volume as well as the amended acquisition policy during the past two years.

The earnings position in 2005 was essentially characterised by the positive business trend in the home entertainment and the post-production segments. Furthermore, the dissolution of reserves and liabilities in connection with the conclusion of the settlements with Gold Circle Films LLC and LHO in the amount of 0.7 million Euro contributed to positive results.

The company's equity amounted to 12.3 million Euro as of the balance sheet date (previous year: 9.3 million Euro). Liquid funds amounted to 7.7 million Euro (previous year: 5.1 million Euro).

For the current financial year 2006, Splendid Medien AG is expecting sales to increase over last year's figure, and the operating margin to improve further.

As of 31 March 2006, the report on the financial year 2006 is ready for download at website www.splendidmedien.com.


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