Splendid Medien AG: First Quarter 2006

Press release - May 29, 2006

(Cologne, 29 May 2006) - Splendid Medien AG, Cologne, achieved consolidated sales of € 5.6m (prev. yr.: 4.8) in the first quarter of 2006. This means sales rose from the previous year by 16%. The most important division was the home entertainment segment with an 82.0% share of total sales. In second place was post production with 13.6% share of sales, ahead of licensing with a 4.4% share of sales.

The consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) stood at € 1.0m (prev. yr.: 1.4). The previous year's EBITDA, adjusted for the exceptional effect (absorption of liabilities Gold Circle Films amounting to € 0.4m) also stood at € 1.0m. Earnings before interest and tax (EBIT) came to € 0.2m (prev. year's period: € 0.7m, after exceptional effect € 0.3m). The consolidated net earnings stood at € 0.1m (prev. yr.: € 0.2m, after exceptional effect € -0.2m).

The company's equity capital as of the balance sheet date was € 12.4m (31 Dec. 2005: € 12.3m). The equity ratio rose to 49.5% (31 Dec. 2005: 48.1%). Liquid assets stood at € 5.2m (31 Dec. 2005: € 7.7m). In comparison to the balance sheet date 31 Dec. 2005, film assets grew by just under 20% from € 8.1m to € 9.7m. In comparison to the previous year's first quarter, investments into film assets were increased six-fold to € 2.4 (prev. yr.: € 0.4m).

Splendid Medien AG expects the current year's sales to rise in comparison to the previous year as well as a further improvement in the operating margin.


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