Ad-hoc Press Release from Intertainment AG according to §
15 WpHG
Intertainment achieves net income for the quarter amounting to 2.1 million euros
Ismaning near Munich, May 31, 2005 – Intertainment AG, Ismaning near Munich,
achieved net income in the first quarter of the current fiscal year amounting to
2.1 mil-lion euros, following 1.6 million euros in the first quarter of the
previous year. Earnings before Interest and Taxes (EBIT) amounted to 2.6 (year-earlier
quarter 2.5) million euros. Earnings from ordinary activities also rose to 2.6
million euros after 2.5 million euros in the first three months of 2004.
Exchange-rate effects were primarily responsible for the improvement in earnings.
Income totaling 3.6 million euros was achieved in connection with the valuation
of claims for damages arising from legal disputes in the USA. These were
attributable to the increased rate of the US dollar against the euro in a
comparison of the two bal-ance-sheet dates March 31, 2005 and December 31, 2004.
At the end of the quarter, Intertainment posted receivables arising from
litigation of 61.7 euros, after 59.1 million euros at the end of 2004. The
strict savings policy being pursued within the Group also exerted a positive
effect on earnings.
The sales of Intertainment amounted to 67,000 euros after 1.1 million euros
during the first quarter of 2004. Sales for the quarter were exclusively due to
exploitation of older film licenses.
The liquid assets of Intertainment amounted to 1.7 million euros at March 31,
2005 – and hence at the level of December 31, 2004. By comparison with March 31,
2004, liquid assets increased by more than 1.2 million euros.
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