H5B5 Media AG
H5B5 Media AG english
H5B5 Media AG lowers sales and profits prognoses
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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H5B5 Media AG lowers sales and profits prognoses
Munich, 25. October 2001. Due to global market weakness in the media sector,
H5B5 Media AG has lowered its sales and profit prognoses for the current and
coming business years. Sales for the current business year are presently in
the range of last year’s sales. Operative results will be negative as a result
of decreased sales and one time restructuring costs. H5B5 Media AG had DM 39.06
million in sales last year and an EBIT of DM 3.88 million. A comprehensive new
plan will be announced at the end of November.
end of ad-hoc-announcement (c)DGAP 25.10.2001
Issuer’s information/explanatory remarks concerning this ad-hoc-announcement:
Planning corrections are a reaction to the reserved purchasing behavior of
German and international television stations. H5B5 Media AG was particularly
affected by the drastic decrease in demand in the United States, having
previously planned to achieve half of its sales revenues in the U.S. market.
Positive talks conducted at the recent leading media trade fair MIPCOM point to
a resuscitation of operative business in the mid-term, but do not raise
expectations for the short-term.
Unexpected difficulties in the co-production of “The Biggest Step” with Fox
Television Studios (USA) led to a further need for adjustment. In order to
achieve its main goal of ensuring liquidity, H5B5’s executive management has
decided to suspend the co-production project and is considering severing ties
to Fox. The DM 5 million allocated by H5B5 Media AG within the scope of the
planned co-production are to be returned to the company. Discussions regarding
continuation of the production have been held.
H5B5 Media AG is reacting to altered economic conditions with a comprehensive
package of measures aimed at markedly reducing personnel, streamlining company
structure and immediately reducing administrative and operative costs.
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WKN: 555540; Index:
Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf,
Hamburg, Hannover, München und Stuttgart
252053 Okt 01
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