Splendid Medien Group in Q1 2009
Press release according to WpHG - May 27, 2009
(Cologne, 27. May 2009) Splendid Medien AG generated sales of 8.4 million in the first quarter of 2009 (previous year: 9.0 million). Group earnings before interest and taxes (EBIT) totalled 0.9 million (previous year: 0.8 million). Group earnings before taxes (EBT) came to 0.7 million (previous year: 0.6 million). Group net profit amounted to 0.7 million (previous year: 0.6 million). Earnings per share were at 0.07 (previous year: 0.06).
Home Entertainment was the key division with an 83% share of total sales. This was followed by Licence Trade with an 11% share of sales, and the Postproduction division with 6%.
The Splendid Group has cash and cash equivalents of 8.7 million (31 December 2008: 9.8 million). Cash flow from operating activities stood at 2.4 million (previous year: -0.2 million). This increase was primarily due to positive changes in the working capital, particularly in the area of accounts receivable. Equity amounted to 15.4 million at the balance sheet date of 31 March 2009 (31 December 2008: 14.7), with an equity ratio of 42.1% (31 December 2008: 40.7%).
The Splendid Group invested a total of 3.0 million in film assets in the first quarter of 2009 (previous year: 1.1 million). 3.5 million affected cash in the past quarter. This included 0.7 million for investments from the previous year. For the whole of the 2009 financial year, the Group is planning investment in film assets at the same level as 2008.
The Managing Board is expecting sales and earnings for the 2009 financial year to match the level of the previous year.