Viva Media AG
VIVA Media AG english
VIVA Media group generates strong profit in 2002
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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VIVA Media group generates strong profit in 2002
-Considerable increase in group EBIT to EUR 18.0 million (previous year pro-
forma EUR -31.5 million)
Cologne, March 26, 2003. The VIVA Media group returns into profitability in 2002
despite the weak economic climate. Group EBITDA totalled EUR 30.0 million (PY
pro forma EUR -13.5 million). In terms of EBIT, a turnaround was also achieved
from a loss of pro-forma EUR 31.5 million to a profit of EUR 18.0 million. The
forecasts of July 2002 (sales EUR 109 million, EBITDA EUR 26 million, EBIT EUR
15 million) were thus considerably bettered. Earnings before tax totalled EUR
12.6 million (PY pro-forma EUR -39.3 million) and net income for the year was
EUR 0,9 Mio. (PY pro-forma EUR -28.8 million). Earnings per share were at EUR
0.04 (PY pro-forma EUR -1.43) positive. Decisive factors behind the leap in
earnings were improvements in the operating business, the initial consolidation
of TV production company BRAINPOOL and extraordinary non-recurring effects. VIVA
Media received EUR 30.0 million from the sale of a 49% stake in VIVA Plus
Fernsehen GmbH to AOL Time Warner. The companies taken out of the investment
portfolio from 2003, the optimisation of internal structures and the move to the
new headquarters have a negative impact on the EBIT of EUR 14.1 Mio. The number
of employees decreased in the course of restructuring from 770 to 580. Group
sales, at EUR 113.0 million, increased slightly (PY pro-forma EUR 112.8
million). Whilst sales from the Music TV segment decreased from EUR 58.3 million
to EUR 56.0 million due to the weak advertising climate, BRAINPOOL benefited
from the successful placement of numerous TV formats. Sales in the TV Production
segment increased in 2002 to EUR 55.4 million (PY pro-forma EUR 52.7 million).
The share of sales of Music TV International increased to EUR 10.8 million (PY
pro-forma EUR 6,4 million) or 9.5% of overall sales. With an equity ratio of
80.6% (PY 74.8%), liquid funds totalling EUR 44.2 million and approx. EUR 1
million due to banks, the company is well equipped for further expansion. In
spite of the still flagging economy VIVA Media is optimistic for 2003. Owing to
improvements in foreign business and the full order books in the TV Production
segment, a slight increase in like-for-like sales and a growth in the operating
result may be anticipated.
end of ad-hoc-announcement (c)DGAP 25.03.2003
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WKN: 617106; ISIN: DE0006171069; Index:
Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin-
Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart
252307 Mär 03
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