Splendid Medien AG: First Nine Months 2005
Press release - November 30, 2005
- Sales at 15.1m
- Positive EBIT of 2.1m
- Consolidated net income at 0.9m
- Liquid assets at 4.9m
(Cologne, 30 November 2005) - Splendid Medien AG, Cologne, achieved corporate sales of 15.1m (prev. yr.: 16.8m) in the first nine months of 2005. The most important division was the home entertainment segment whose share of total sales was 73.4%. In second place was postproduction with a 13.8% share of sales, ahead of the licensing division's share of 12.8%.
The concern succeeded in clearly raising its earnings before interest, taxes, depreciation and amortization (EBITDA) above the figure for the previous year's period ( 3.2m) to 4.5m; similarly, the earnings before interest and taxes (EBIT) were up to 2.1m (previous year's period: -1.2m). 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 nine months of the year came to 1.0m.
The Splendid Medien AG results for 30 September 2005 thus again prove that the turn-around has been a success.
The company's equity capital on the balance sheet cutoff date was 11.1m (31 December 2004: 9.3m). The liquid assets came to 4.9m (31 December 2004: 5.1m). The sum of the short-term liabilities was reduced according to plan by 2.5m from 15.4m (31 December 2004) to the current 12.9m. The sum of the short-term loans and the short-term shares of long-term loans were also visibly reduced from 1.3m (31 December 2004) to 0.6m. The balance-sheet structure thus continues to show negligible debt, good liquidity and a high equity capital quota of 45.7%.
Splendid Medien AG expects that sales in the current fiscal year 2005 may dip slightly against the previous year, but that a positive result will be achieved.