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.