Splendid Medien Group in First Half 2007: Continued Sales and Earnings Growth
Press release - August 31, 2007
- Group sales grew by 20% to 13.4m
- Group EBIT grew by 0.4m to 0.9m
- Operative cashflow grew to 2.4m
- Equity ratio grew from 44.5% to 48.9%
(Cologne, 31.8.2007) In the first half of 2007, Splendid Medien AG, Cologne, achieved Group sales growth of 20% to 13.4m (prev. yr.: 11.2). In comparison with the previous year, the Group's earnings before interest and taxes (EBIT) grew by 80% or 0.4m to 0.9m (prev. yr.: 0.5). The consolidated surplus was increased from 0.1m to 0.6m. The earnings per share stand at 0.06 (prev. yr.: 0.01). This puts the company over the previous year's values. The most important business segment was Home Entertainment with a 79% share of total sales. In second place was Postproduction with a 12% share of sales, ahead of the 9% share of sales held by the Licence trade segment.
The Group's earnings before interest, taxes, depreciation and amortization (EBITDA) was also visibly increased from 2.7m to 4.2m. The Group's earnings before taxes (EBT) came up to 0.7m (prev. yr.: 0.4).
As of the closing date 30 June 2007, the company's equity capital amounted to 16.0m (on 31 December 2006: 15.3). The equity ratio grew visibly from 44.5% to 48.9%.
Liquid funds amounted to 8.7m (31 December 2006: 10.7). At the end of the second quarter, the Group had at its disposal 1.9m more liquid funds than at the end of the first quarter.
In the first half year, the cashflow from Group operations, at 2.4m, was 2.7m greater than the cashflow of the same period in the previous year. In comparison to the first quarter, the cashflow grew by 4.4m.
In the first half-year of 2007, the Splendid Group invested 4.2m (prev. yr. 5.0) in film assets.
For the overall fiscal year 2007 the Splendid Group expects investments on the level of the previous year's and double digit percentage sales growth in comparison to the previous year, combined with an increase in earnings before taxes.