Splendid Medien AG in the first nine months of 2004
Press release - November 30, 2004
- Consolidated revenues at EUR 16.8 million
- EBIT at EUR -1.2 million
- Half-year loss reduced
(Cologne 30 November 2004) In the first nine months of 2004, Splendid Medien AG of Cologne generated consolidated revenues of EUR 16.8 million (previous year: EUR 28.3 million). The most important division was Home Entertainment, with a 53.8% share of revenues. License Trade was in second place with a 37% share, followed by Postproduction, which contributed 9.2% to total revenues.
The Home Entertainment division posted revenues of EUR 9.1 million (previous year: EUR 11.0 million), and License Trade EUR 6.2 million (previous year: EUR 15.8 million). The year-on-year revenue gap can be explained by the theatrical release of the two major Hollywood films Gangs of New York and My Big Fat Greek Wedding at the beginning of 2003. The Postproduction division generated income of EUR 1.5 million (previous year: EUR 1.5 million).
Earnings before interest and taxes (EBIT) totalled EUR -1.2 million (previous year: EUR -1.8 million). A consolidated net loss of EUR -1.3 million (previous year: EUR -2.0 million) was posted in the first nine months of 2004. The loss has therefore been reduced significantly by EUR 2.5 million compared with the first half of 2004.
The consolidated net loss is mainly attributable to provisions for the legal dispute with Gold Circle Films LLC. The Management Board hopes that the settlement negotiations in this legal dispute can be concluded in the near future.
As at the reporting date of 30 September 2004, cash and cash equivalents amounted to EUR 2.7 million.
The report for the first nine months of 2004 can be downloaded from our homepage www.splendidmedien.com.
For further information, please contact:
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