Splendid Medien Group in the first nine months of 2007: sales and revenue growth has continued

Press release - November 30, 2007

Group sales increased by 11.3% to EUR 19.7 million
- Group EBIT increased by EUR 0.2 million to EUR 1.2 million
- Operating cash flow increased to EUR 3.0 million
- Equity ratio at 46.6%

(Cologne, 30 November 2007) – In the first nine months of 2007, Group sales of Splendid Medien AG, Cologne, rose by 11.3% to EUR 19.7 million (previous year: 17.7 million). Group earnings before interest and tax (EBIT) increased to EUR 1.2 million (previous year: EUR 1.0 million). The most significant business segment was the home entertainment segment with a 78% share of total sales. Second place was taken by the post-production segment with a 13% share of sales followed by the licence trade segment with a 9% share of sales.

Group earnings before interest, tax, depreciation and amortisation (EBITDA) significantly increased from EUR 4.6 million to EUR 6.2 million. Group earnings before tax (EBT) amounted to EUR 0.9 million (previous year: EUR 0.8 million).

Due to the changes resulting from the reform of the corporation tax law, deferred taxes on losses carried forward can now only be taken into account by using a reduced tax rate. As a result, Group earnings after tax were affected in the third quarter and amount to EUR -0.03 million. Adjusted for this special effect, Group earnings after tax would have amounted to EUR 0.8 million (previous year: EUR 0.4 million).

The company’s equity as at the balance sheet date of 30 September 2007 was EUR 15.3 million (compared to EUR 15.3 million as at 31 December 2006. The equity ratio experienced a significant increase from 44.5% to 46.6%.

Cash or cash equivalents amount to EUR 7.2 million (compared to EUR 10.7 million as at 31 December 2006).
The cash flow from the Group’s current business operations was EUR 3.0 million in the first nine months (previous year: EUR 1.8 million).

The Splendid Group invested EUR 6.4 million (previous year: EUR 6.1 million) in film assets during the first nine months of 2007.

The Splendid Group expects investments to be at last year’s level for the full 2007 financial year and it expects the percentage of sales growth to be in double figures in comparison to the previous year, combined with an increase in operating profit before tax.


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