MOOD AND MOTION AG
Neue Sentimental Film english
Neue Sentimental Film AG publishes annual report 2002
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Neue Sentimental Film AG publishes annual report 2002
Neue Sentimental Film AG back on track after concluding restructuring program /
13% sales growth to EUR 39 million despite deconsolidation of three companies /
Cash outflow halted substantially
Frankfurt, March 27, 2003 – Neue Sentimental Film AG, an international media
company and producer of advertising films, music videos and TV formats, recorded
sales totaling EUR 39.0 million in fiscal year 2002 (previous year: EUR 34.5
million). This means that the company succeeded in increasing its sales by
around 13% year-on-year – despite the exceptionally harsh conditions on the
market and the fact that three companies were retroactively not included in
group sales as of January 1, 2002.
The company was also able to significantly reduce its cash outflow as a result
of the major restructuring program started in 2002. Whereas the company’s cash
outflow in the first half of 2002 totaled EUR 4.6 million, this fell to just EUR
0.7 million in the second half of 2002 (thereof EUR 0.3 million in Q4 2002).
The company’s earnings are still characterized by significant write-downs and
one-off expenses as a result of the restructuring. These result, for example,
from the staff cuts. In total, at the end of fiscal year 2002 the number of
employees in the individual companies had been halved compared to the middle of
2001 to a total of 75. This has resulted in one-off expenses totaling EUR 7.5
million in 2002. Of this amount, EUR 6.1 million impacts EBIT, which totals EUR
-8.4 million (previous year: EUR -9.5 million). The company’s pre-tax earnings
(EBT) total EUR -9.6 million (previous year: EUR -12.2 million). After
adjustment for one-off expenses, this results in EBIT totaling EUR -2.2 million
and EBT of EUR -2.8 million.
As economic developments do not give any realistic reasons to anticipated
increasing growth rates the company is forecasting sales of EUR 39 million for
2003 – and positive earnings.
Contact: Klaus Niemeyer, Tel.: +49(0)69/9433-1441, klaus.niemeyer@nsf.de
end of ad-hoc-announcement (c)DGAP 27.03.2003
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WKN: 534 140; ISIN: DE0005341408; Index:
Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin-
Bremen, Düsseldorf, Hamburg, Hannover und Stuttgart
270805 Mär 03
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