Ad-hoc Press Release from Intertainment AG according to §
15 WpHG
Intertainment Increases Sales and Loss
Deterioration of the result in the fiscal year 2004 in particular due to
write-down of shareholding and exchange-rate development
Ismaning near Munich, 29 April 2005 – The media company Intertainment AG,
Is-maning near Munich, significantly increased sales in the fiscal year 2004. At
the same time, the loss for the year increased substantially.
Group sales rose during the year overall to 17.9 million euros, after 6.0
million euros in the previous year. The increase in sales is primarily due to
disposal of the license rights in the film “Twisted”. In this connection, the
cost of materials went up to 17.1 million euros. It includes scheduled
amortization of these license rights.
Personnel expenses amounted to 2.2 million euros and fell by 0.9 million euros
com-pared with the previous year.
The accumulated loss increased to -22.2 million euros after -14.1 million euros
in the previous year. Earnings before Interest and Taxes (EBIT) deteriorated
from -8.9 to -21.3 million euros.
Overall, this earnings performance is primarily due to complete write-down of
the shareholding in SightSound Technologies amounting to 15.0 million euros due
to in-creased uncertainties compared with the previous year. Furthermore, a
reduction of 4.0 million euros in the claims for damages against Franchise
Pictures and other par-ties due to the exchange rate also impacted negatively on
the result.
Other operating expenses experienced a positive development. The comprehensive
savings and reorganization measures implemented by Intertainment reduced this
item by 9.9 million euros to 2.3 million euros.
At the balance-sheet date, Intertainment reported claims for damages against
Fran-chise Pictures and other parties amounting to 59.1 million euros and
disposed over cash and cash equivalents totaling 1.7 (prior year 2.1) million
euros. This is compared with provisions amounting to 27.2 (prior year 33.1)
million euros and liabilities of 1.0 (prior year 2.8) million euros. Equity
capital amounted to 37.9 (prior year 59.8) million euros on December 31, 2004.
The equity ratio was 45 % after 53 % in the prior year.
End of the press release
Contact:
Intertainment AG, Investor Relations, Osterfeldstrasse 84, D-85737 Ismaning, Germany
Tel.: + 49 (0)89 21699-0, Fax: + 49 (0)89 21699-11
Internet: www.intertainment.de, E-mail: investor@intertainment.de