Viva Media AG
VIVA Media AG english
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Restructuring after Joint Venture with AOL Time Warner will trigger a Jump in
Earnings as of 2002.
Forecast for 2001 corrected downward due to Special Factors and Market Situation
Cologne, October 11, 2001. The joint venture with AOL Time Warner and the
resulting restructuring at VIVA Media AG will have a highly positive impact on
consolidated earnings for 2002. In 2002, VIVA Plus Fernsehen GmbH will operate
VIVAplus TV (formerly VIVA ZWEI) as well as www.viva.tv and www.vivaplus.tv as a
new 51%/49% joint venture between VIVA Media and AOL Time Warner.
As of 2002, VIVA Plus will be accounted for according to the cost method (at
cost) in accordance with IAS. Hence, two previously loss making divisions, VIVA
ZWEI and VIVAdigital, will no longer be consolidated within the VIVA Group. The
VIVA Group thus expects eight-digit EURO earnings in its EBITDA and EBIT for all
of fiscal 2002. This jump in earnings is based first on its highly profitable
core TV business and second on the cash proceeds from the joint venture with AOL
Time Warner. As of 2003, the VIVA Group expects additional significant earnings
based on its current scope of consolidation.
For fiscal 2001, factors resulting from restructuring and the weak market
climate have led to a correction in sales and earnings. The terrorist attacks of
September 11th in the US have put additional pressure on the TV advertising
market and have triggered greater uncertainty as well as decreasing advertising
bookings. For all of 2001, VIVA Media thus expects a rise in sales of 11.4% to
ca. EUR 61.5 million (original forecast: EUR 65 million). Due to the last
consolidation of such losing operations as VIVA ZWEI and VIVAdigital, lower
sales and one-time factors, VIVA is now forecasting a potential loss of EUR -10
million for its EBITDA in 2001 instead of the balanced results (+- 0) originally
anticipated. The following one-time factors had special impact: costs in
conjunction with hiving off and restructuring VIVA Plus as well as complete
depreciation of VIVAdigital and VIVAconnect (goodwill), occasioned by
repositioning the VIVA Group. EBIT has been charged with an additional EUR 4.5
million for these one-time write-offs.
Contact: VIVA Media AG. Im Mediapark 2. D-50670 Cologne.
http://www.vivamediaag.com
Investor Relations: Michael Armbrust. Phone: +49 (0)221-5744-1700.
ir@vivamediaag.com
end of ad-hoc-announcement (c)DGAP 11.10.2001
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WKN: 617106; Index:
Listed: Neuer Markt in Frankfurt, Freiverkehr in Berlin, Bremen, Düsseldorf,
Hamburg, Hannover, München, Stuttgart
110725 Okt 01
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