Media! AG
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MEDIA! AG: Decline in sales to 17,1 million EUR during first six months
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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MEDIA! AG: Decline in sales to 17,1 million EUR during first six months
conditional on focussing business that is profitable / More strain on profits
due to restructuring costs and balance sheet adjustments
The second quarter of the 2001/2002 business year (1.10 to 31.12.2001) was
marked by several factors which affected sales. Receding economic trends, some
major customers’ media budgets below the previous year’s levels and the fact
that the effects of the events of 11 September have not yet been overcome led to
high pressure from the competition and excess capacities within the media
technology sector. Furthermore a willful focussing on business that is
profitable took place. At a difficult market situation and because of the taken
measures, it the company achieved sales of 17,1 million EUR during the first
half year. The Group’s half yearly earnings totals -12,6 million EUR. In
particular, restructuring costs and balance sheet adjustments totalling 6,5
million EUR put a strain on profits. Without the adjustments for special
influences, the EBITDA would have equalled -1,0 million EUR. The pre-tax and
interest (EBIT) earnings amount to -12,8 million EUR (previous year: 0,9 million
EUR).
As a result of the implementation of the structural adjustment and rescue meas-
ures, MEDIA! AG will be able to make significant improvements to the net income
situation of the operation year til the middle of the calendar year. The
operational losses which have occurred in the current business year and the one-
off costs and balance sheet adjustments associated with the rescue measures lead
us to expect a clearly negative result for the whole year. As a result of the
focussing on business that is profitable the sales target for the business year
2001/2002 follows a dimension of 30 million EUR. Based on a cyclical recovery
and the in-creased revenue and cost structure it can be assumed by todays
standard of knowledge a positive annual result for the fiscal year 2002/2003.
In conjunction with the adjustment of the investment portfolio MEDIA! AG sold
its stake of 51% on Tandem Filmproduktion GmbH to the co-partner Silvio Heu-
felder.
As a stabilising factor concurs the new major shareholder DISTEFORA, who is
holding a share in the MEDIA! AG of 44,78% since 22.12.2001.
end of ad-hoc-announcement (c)DGAP 26.02.2002
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WKN: 663330; ISIN: DE0006633308; Index:
Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf,
Hamburg, Hannover, München und Stuttgart
270040 Feb 02
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