IN-motion AG
IN-motion AG english
IN-motion announces first quarter results 2001/2002
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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IN-motion announces first quarter results 2001/2002
Frankfurt am Main, April 30, 2002 – In the first quarter of the financial year
2001/2002, which ended December 31, 2001, IN-motion AG movie & TV productions
had consolidated sales of EUR 25.44 million, an increase of 50% compared to the
previous year (EUR 16.93 million). The EBITDA decreased from EUR 11.46 million
by 35% to EUR 7.49 million in the reporting period, as the company shows sales
in the music segment that are characterized by high costs. Furthermore the
administrative costs increased in the course of the consolidation of the
subsidiaries. The EBIT in the first quarter 2001/2002 is EUR -1.54 million
compared to EUR 1.04 million in the same quarter of the previous year. In the
first quarter the international media group shows net losses of EUR 2.73
million (previous year EUR -0.45 million).
The results of the first quarter are characterized by the different application
of US-GAAP, which do not allow to show revenues from production services for
media funds. Accordingly, the consolidated results are effected. IN-motion AG
will show a significant negative result in the financial year 2001/2002, as
parts of the profits from the production activities can not be shown until the
sale of the films in the respective territories. US-GAAP and the strict
application of SOP 00-02 have the result, that EUR 69 million in distribution
revenues from production activities already finished in the last financial year
can only be shown with a delay of up to 24 months.
The conservative US-GAAP result does not reflect the actual business activities
of the company. IN-motion AG in the current financial year commences production
activities with a total volume of approximately US-dollars 290 million solely
in the film segment. Parts of the resulting profits are shown also with a delay
of up to 24 months. A detailed forecast for the current and also the next
financial years will be announced together with the 6-months results at the end
of May 2002.
end of ad-hoc-announcement (c)DGAP 29.04.2002
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WKN: 622380; ISIN: DE0006223803; Index:
Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf,
Hamburg, Hannover, München und Stuttgart
300115 Apr 02
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