Constantin Film AG
Constantin Film AG announces figures for the 2008 fiscal year
Constantin Film AG / Final Results Release of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- Constantin Film AG announces figures for the 2008 fiscal year Earnings target exceeded with new record in spite of difficult market environment Increase of 21.6 per cent in the operating result to EUR 15.1 million Increase of 10.4 per cent in sales to EUR 248.5 million Earnings per share of EUR 0.83 Munich, March 2, 2009 Constantin Film AG (ISIN DE0005800809) generated sales of EUR 248.5 million in the 2008 fiscal year. This means that the Group increased its sales by 10.4 per cent over the previous year (December 31, 2007: EUR 225.0 million). Constantin Film AG managed to exceed its targets in spite of the difficult economic situation. The sales achieved in the theatrical distribution operations in Germany amounted to EUR 31.1 million in the year under review (previous year: EUR 33.4 million) and accounted for 13 per cent of total sales. The in-house production segment contributed EUR 25.4 million in the year under review, compared with EUR 21.2 million in the previous year. This is attributable primarily to the excellent performance of THE BAADER MEINHOF COMPLEX and THE WAVE. In the third-party production segment, the most successful film during the period under review was STEP UP TO THE STREETS. Home entertainment sales amounted to EUR 40.9 million (previous year: EUR 44.7 million). The difference can be attributed to varying profit-margins on individual titles. The TV exploitation operations include the sales from the licensing of TV rights to theatrical films, from TV in-house and co-productions and from service productions. Sales of EUR 140.8 million were generated in the in-house production segment (previous year: EUR 122.6 million). The sales in the in-house production segment that were accounted for by service productions amounted to EUR 100.8 million in the year under review (previous year: EUR 106.0 million) and corresponded to 41 per cent of total sales. The decrease is mainly due to the fact that fewer TV movies were produced. In the third-party production segment sales of EUR 21.5 million (previous year: EUR 15.5 million) were generated. Constantin Film AG generated an operating result of EUR 15.1 million in 2008 (2007: EUR 12.4 million), which represents an increase of 21.6 per cent. The operating result margin was 6.1 per cent. This means that the Constantin Group increased profitability by 0.6 percentage point in the year that ended on December 31, 2008. The gross profit in 2008 was EUR 35.5 million (previous year: EUR 32.0 million). The gross profit margin in the year under review therefore remained unchanged at 14 per cent. The earnings attributable to the shareholders of the parent company amounted to EUR 10.5 million (previous year: 6.2 million). Earnings per share were EUR 0.83 after EUR 0.49 in the previous year. The balance sheet total was EUR 339.5 million on December 31, 2008, which is an increase of EUR 6.2 million over the previous year (December 31, 2007: EUR 333.3 million). Cash and cash equivalents amounted to EUR 101.1 million on December 31, 2008, whereas bank loans and overdrafts were EUR 126.6 million. The film assets totalled EUR 166.3 million on December 31, 2008, which is 8 per cent lower than in the previous year (EUR 181.7 million). The reduction is due primarily to the realisation of sales with several major film projects. Investments in film assets attributable to in-house productions amounted to EUR 73.6 million on December 31, 2008 (previous year: EUR 79.1 million). Equity increased by EUR 10.1 million compared with the previous year and amounted to EUR 84.7 million on December 31, 2008. The theoretical equity ratio is 25 per cent (previous year: 22 per cent). If the funds and bank liabilities on December 31, 2008 and the film assets and advance payments received are balanced, the adjusted equity ratio amounts to 46 per cent (previous year: 44 per cent). Forecast 2009: A positive overall development of the business is Constantin Film AG's aim in the 2009 fiscal year as well - even though the market environment has become tougher, due to increasing competition on the generally difficult German theatrical market, the tense economic situation at the present time and further high cost pressure on producers from TV stations. In view of this, we are expecting 2009 to be another successful fiscal year and are planning sales of between EUR 220 million and EUR 240 million as well as a positive operating result of between EUR 10 million and EUR 12 million. The information provided about the 2008 fiscal year is based on Constantin Film AG's 2008 annual report. The complete audited and certified 2008 annual report will be available to be downloaded from our website www.constantinfilm.de and the Deutsche Börse website www.deutsche-boerse.com on March 2, 2009. Investor Relations Sebastian Bergau Telephone: +49 89-44 44 60 274 Fax: +49 89-44 44 60 244 E-mail: sebastian.bergau@constantin-film.de 02.03.2009 Financial News transmitted by DGAP ---------------------------------------------------------------------- Language: English Issuer: Constantin Film AG Feilitzschstraße 6 80802 München Deutschland Phone: +49 (0)89 44 44 60-0 Fax: +49 (0)89 44 44 60-666 E-mail: investorrelations@constantin-film.de Internet: www.constantin-film.de ISIN: DE0005800809 WKN: 580080 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart End of News DGAP News-Service ---------------------------------------------------------------------------
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