The Splendid Medien Group enjoys double-digit revenue and earnings growth in Q1 2008
Press release according to WpHG - May 23, 2008
- Consolidated revenue rises 22% to EUR 9.0 million
- Consolidated EBITDA increases 23% to EUR 2.7 million
- Consolidated EBIT climbs from EUR 0.7 million to EUR 0.8 million
(Cologne, 23 May 2008) In the first quarter of 2008, Cologne-based Splendid Medien AG boosted its consolidated revenue 22% to EUR 9.0 million (previous year: EUR 7.4 million). Consolidated earnings before interest, taxes, depreciation and amortisation (EBITDA) amounted to EUR 2.7 million, rising 23% above the previous year's figure of EUR 2.2 million. Consolidated earnings before interest and taxes (EBIT) increased from EUR 0.7 million to EUR 0.8 million. At EUR 637 thousand, consolidated earnings before taxes (EBT) surpassed the previous years figure of EUR 594 thousand. Consolidated net profit for the period improved on that of the previous year from EUR 0.5 million to EUR 0.6 million. Thus, earnings per share increased above the previous years figure and amounted to EUR 0.06 (previous year: EUR 0.04).
The most important business unit was the Home Entertainment segment, which accounted for a 77% share of total revenue. Licensing Operations were second in line, accounting for 16% of total revenue, followed by the Post Production unit with its 7% share.
The Splendid Group of companies has cash and cash equivalents of over EUR 6.3 million (as at 31 December 2007: EUR 7.7 million). On the reporting date (31 March 2008), the Companys equity amounted to EUR 14.6 million (as at 31 December 2007: EUR 14.0 million). This resulted in a high equity ratio of 41.2% (as at 31 December 2007: 41.6%).
Cash and cash equivalents amounting to EUR 1.1 million (previous year EUR 1.8 million) were employed for investments in the Companys film assets. For full year 2008, the Splendid Group is planning investments in its film assets to be at last years level (full year 2007: EUR 9.4 million).
For financial year 2008, the Managing Board expects revenue amounting to at least EUR 31 million and an EBIT margin of between 8% and 9%.
As at 30 May 2008, the report for the first quarter of 2008 will be available for download from the Companys homepage at www.splendidmedien.com.