Splendid Medien AG: First Half 2005
Press release - August 31, 2005
- Sales at 10.0m
- Positive EBIT of 1.6m
- Consolidated net income at 0.7m
- Liquid assets at 6.8m
(Cologne, 31 August 2005) - Splendid Medien AG, Cologne, achieved corporate sales of 10.0m in the first half of 2005 (prev. yr.: 9.7m). The most important division was the home entertainment segment whose share of total sales was 71.1 %. In second place was the licensing division with 16.3 % share of sales, ahead of postproduction whose share of sales stood at 12.6 %.
The company clearly raised it's earnings before interest, taxes, depreciation and amortization (EBITDA) above the figure for the previous years period ( 0.3m) to 3.5m; and earnings before interest and taxes (EBIT) were up to 1.6m (previous year's period: -2.3m). Adjusted for exceptional influences by the reversal of liabilities in connection with the legal disputes involving Gold Circle and LHO, the EBIT in the first half of the year came to 0.5m.
The Splendid Medien AG results for 30 June 2005 are thus impressive evidence of the successful turn-around.
The company's equity capital on the balance-sheet cutoff date was 10.9m (31 December 2004: 9.3m). The liquid assets came to 6.8m (31 December 2004: 5.1m). The liabilities to banks were reduced according to plan by 0.9m from 1.8m (31 December 2004) to the current 0.9m. The balance sheet structure thus continues to be characterized by negligible debt, good liquidity and a high equity capital quota of roughly 43.6 %.
Splendid Medien AG expects that sales in the current fiscal 2005 may fall against the previous year but that the financial result will be positive.
The report for the first half year of 2005 can be downloaded from the homepage www.splendidmedien.com.
You can obtain additional information from:
Splendid Medien AG
Dr. Gert Fisahn
Alsdorfer Str. 3
Tel.: +49 (0) 221-95 42 32 34
Fax: +49 (0) 221-95 42 32 8