Viva Media AG
VIVA Media AG english
VIVA Media reports first quarter result 2003
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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-Group EBITDA EUR 0.7 million; EBIT EUR -1.5 million
-BRAINPOOL with positive EBIT of EUR 1.1 million
-Weak competitive environment negative for Q1 as expected
Cologne, 15 May 2003. As expected the 2003 financial year began weakly for VIVA
Media. The restraint of the advertising industry and the typical settlement
methods in TV production resulted in a sales decline of 17.8% from EUR 25.5
million to EUR 21.0 million in Q1 2003. Thus the revenues of the music TV
segment, with their strong dependency on the advertising market, declined 4.0%
against the previous year to EUR 10.6 million (PY: EUR 11.0 million). Revenues
in international music TV participations more than doubled to EUR 3.1 million
(PY: EUR 1.5 million). At EUR 10.3 million segment sales of TV production were
down on the previous year’s figure of EUR 14.0, partly due to invoicing reasons.
After the deconsolidation of Westka and GFP (quarterly revenues 2002: EUR 0.5
million) it should be taken into account that a large number of formats were
produced in the first quarter which will only be broadcast in the second or
third quarter and only then impact the P&L. In Q1 2003 EBITDA of EUR 0.7 million
was generated (PY: EUR 31.7 million). Adjusted for the positive P&L-effect of
EUR 29.7 million resulting from the one-off payment from the sale of the 49%
stake in VIVA Plus to AOL Time Warner in January 2002, previous year EBITDA
results in in EUR 2.1 million. In the reporting period 2003, EBIT was EUR -1.5
million (PY: EUR 0.3 million (unadjusted EUR 29.4 million). The Music TV segment
posted a loss of EUR -2.5 million (PY: EUR 29.4 million; adjusted: EUR -0.3
million.). Despite declining revenues, the TV production segment generated an
earnings increase from EUR 0.8 million to EUR 1.1 million. The consolidated
result was EUR -1.2 million after adjusted net earnings of EUR 0.3 million in Q1
2002 (unadjusted EUR 18.0 million). Earnings per share were EUR -0.05 (PY:
adjusted EUR 0.01; unadjusted EUR 0.74). The number of employees (full-time
equivalents as at 03/31/2003) in the VIVA Media group was 550 (PY: 697). With an
equity ratio of 83% (PY: 80%) and amounts due to banks of EUR 0.6 million, the
group balance sheet remains strong. The decline of liquid funds against end of
2002 from EUR 44.2 million to EUR 36.1 million is mainly based on preproduced TV
formats.
end of ad-hoc-announcement (c)DGAP 15.05.2003
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WKN: 617106; ISIN: DE0006171069; Index: SDAX
Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin-
Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart
150754 Mai 03
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