TV-Loonland AG
TV-Loonland AG reports significant increase in turnover and positive operative Cash flow
TV-Loonland AG / Half Year Results Release of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- • Half yearly revenues adjusted for non-recurring items increased by 31 percent to KEUR 2,494 (HY/2007: KEUR 1,904) • Half yearly revenues including non-recurring items of KEUR 4,518 raised to KEUR 7,012 • Half year profit of KEUR 5,824 (HY/2007: KEUR – 1,232) due to non-recurring items amount to KEUR 7,510 • Cash flow from operating activities positive with KEUR 394 (HY/2007: KEUR 78) • Redemption of all bank debt after successful completed restructuring Munich/London, 01 September 2008 – TV-Loonland AG today releases its half-year figures 2008. Alongside the significant increase in revenues, the positive operative cash flow shows that the company is back on the right track after a difficult period of time. Considering the parlous situation of the business during the past quarters, caused by the limited freedom of action and financial pressure, the results achieved are throughout encouraging for the future, especially considering the reduced cost structure and progress made in the operative business. On a year-to-year basis, revenues for the first half year 2008 increased significantly to KEUR 7,012. (HY/2007: KEUR 1,904). As said figure includes revenues of KEUR 4,518 resulting from the sale of the Hasbro Classics Library, adjusted revenues amount to KEUR 2,494, still increasing by 31 percent compared to the same period in the prior year. The result of the company increased considerably by KEUR 7,056 to KEUR 5,824 within the first half year 2008 (HY/2007: KEUR - 1,232). The figure reflects the effects of the sale of both, the Hasbro Classics Library and the shareholding in Metrodome Group plc as well as the formal accounting treatment for the debt for equity swap concluded in January 2008 amounting to KEUR 7,510. The pleasant development is also reflected by the cash flow from operating activities. An increase of KEUR 316 to KEUR 394 results in a noticeable positive figure over the first six months in 2008 (HY/2007: KEUR 78). The successful sale of both the Hasbro Classics Library and the shareholding in Metrodome Group plc. during the reporting period mark important and necessary transactions for the continuity of the business. The resulting proceeds totalling to KEUR 6,972 paved the way for a full repayment of the outstanding bank debt of KEUR 5,000 and associated costs of transactions. Following on the full repayment of the bank debt, the company now is left with owing KEUR 2,013 to the holders of the Convertible Bond 2007/2008, who are due to be repaid on 20 November 2008. The company is in negotiation with major bond holders to extend the repayment period. For the company to continue to look to grow and develop its business it will need further significant injections of capital over the course of the next two years, as has been previously highlighted in the recent Annual Report 2007. The company is in negotiation to issue new shares to a strategic investor of the film industry with the aim to get the development projects properly funded and to extend the existing library. Against the background of the ongoing negotiations and these half year results, the Management Board assumes that the future of the business can be secured for a mid and long term perspective. Alternatively a transaction like a merger, contribution or a complete disposal could take place, provided that the Management Board considers a concrete offer as both advantageous and also providing value to the existing the shareholders given the company’s need for further significant injections of capital. The half-year report 2008 is available for download on the company´s Investor Relations Homepage ( http://ir.tv-loonland.de/ ). PR 014-080901 -ends- TV-Loonland AG Münchner Straße 16 85774 Unterfoehring/Munich Germany TV-Loonland is a brand management company primarily in the children's and youth market focusing on high-quality content which it develops and produces in house as well as coproduces with third party producers and partners. With offices in key locations throughout Europe (Paris, Munich and London) and in the USA (Miami), TV-Loonland is ideally positioned to identify, produce and market top quality brands across all media including TV, Home Entertainment, Licensing & Merchandising as well as digital media. TV-Loonland's most recent successes include brands such as LITTLE PRINCESS, THE OWL and PAT&STAN. Press/Investor Relations Mark Kilisek Tel.: +49 (0) 89 20 50 8 - 0 Fax: +49 (0) 89 20 50 8 - 199 E-Mail: mkilisek@loonland.com / 01.09.2008 Financial News transmitted by DGAP ---------------------------------------------------------------------- Language: English Issuer: TV-Loonland AG Münchner Straße 16 85774 Unterföhring Deutschland Phone: +49 (0)89 205 08 - 0 Fax: +49 (0)89 205 08-199 E-mail: info@loonland.com Internet: www.loonland.com ISIN: DE0005348403 WKN: 534840 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Stuttgart, München, Düsseldorf End of News DGAP News-Service ---------------------------------------------------------------------------
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