IN-motion AG
IN-motion AG english
IN-motion announces temporary HGB results
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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IN-motion announces temporary HGB results – Delay of audited US-GAAP figures
due to first time consolidation of subsidiaries
Frankfurt am Main, December 31, 2001. The international media group, IN-motion
AG, Frankfurt, has, as of today according to the German HGB regulation, reached
a temporary, unaudited pre-tax profit of approximately DM 35 million for the
past financial year ending September 30, 2001. In the year 1999/2001 a loss of
DM 2.7 million was shown.
IN-motion AG is the only German media company that complies with the strict US-
GAAP financial reporting guideline, SOP 00-2, since going public in June 2000.
Accordingly, the auditing requirements have led to a delay in the finalization
of the consolidated financial report. As these are caused mainly by the US
subsidiary, Trauma Records, IN-motion AG’s executive board, as a consequence,
dismissed the managing directors during a board meeting held on December 28,
2001.
As of today, the consolidated revenue according to US-GAAP lies slightly above
DM 300 million (previous year: DM 113 million) in line with forecasts.
Considered herein is a shift in revenue of DM 26 million, due to SOP 00-2, from
US-subsidiary Myriad Pictures into the new financial year 2001/2002. According
to IAS or FASB 53 this revenue could have been fully shown in the past
financial year. At the end of the financial year on September 30, 2001, the IN
motion group showed liquid funds amounting to DM 55 million. This underlines
the solid financial basis of the IN-motion group.
Due to the still unresolved audit at the US-label Trauma Records, for which a
loss in profit of not more than USD 1 million over forecast is expected, as
well as the shift in revenue at Myriad Pictures, no final statements can be
made as of today with regards to the consolidated financial report according to
US-GAAP. The audited US-GAAP report will be available end of January/beginning
of February 2002. On January 7, 2002, IN-motion’s executive board will hold a
conference call for analysts and the press.
end of ad-hoc-announcement (c)DGAP 31.12.2001
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WKN: 622380; ISIN: DE0006223803; Index:
Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf,
Hamburg, Hannover, München und Stuttgart
311051 Dez 01
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