Highlight Event and Entertainment AG
EQS-Adhoc: 2016 Annual Report
EQS Group-Ad-hoc: Highlight Event and Entertainment AG / Key word(s): Final
Results
2016 Annual Report
28-Apr-2017 / 18:32 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 KR
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Group Development in Fiscal Year 2016The purchase of strategic investments in
the media sector increased total consolidated assets from about CHF 20.2 million
as of December 31, 2015, to about CHF 45.0 million as of December 31,
2016.Consolidated net profit amounted to about CHF -3.0 million (previous year:
about CHF -0.7 million). This was due in particular to new investments and
extraordinary expenses.In fiscal year 2016, equity increased by 30% to CHF 24.7
million (CHF 19.0 million).Gross profit was improved by 7.9% to about CHF 2.8
million.
In fiscal 2016, Highlight Event and Entertainment AG ("HLEE") again achieved
stable results in its operating activities. The calculation of the fair value of
the equity investment in Constantin Medien AG, which is decisive for accounting
purposes, led to an impairment loss as of the end of the reporting period.
Operating expenses were affected by extraordinary legal expenses related to the
dispute concerning the General Meetings of Constantin Medien AG on July 6, 2016,
and November 9/10, 2016, and the corresponding legal consequences. Both EBIT and
consolidated net income were negative as a result.
As already published on April 3, 2017, the Board of Directors invited
shareholders to an Extraordinary General Meeting to be held on May 2, 2017, and
proposed an ordinary capital increase as well as the extension and increase of
the authorized capital until May 2, 2019. In the proposed ordinary capital
increase, the share capital of HLEE is to be increased by up to CHF 46,777,500
from CHF 15,592,500 to a maximum of CHF 62,370,000 by issuing up to 5,197,500
HLEE bearer shares with a nominal value of CHF 9 each that are to be paid in
full under subscription.
The detailed 2016 Annual Report is available at
http://www.hlee.ch/investor-relations/geschaeftsberichte/.
Contact details:
Highlight Event and Entertainment AG
Netzibodenstrasse 23b
4133 Pratteln, Switzerland
Tel: +41 41 226 05 97
info@hlee.ch
http://www.hlee.ch
Important notice:
This press release may contain forward-looking statements, such as expectations,
plans, intentions, or strategies for the future. Such statements entail
uncertainty and risk. The reader must therefore be aware that such statements
may deviate from actual events in the future. All forward-looking statements in
this press release are based on data available to HLEE as of the date this press
release was published. HLEE is under no obligation whatsoever to update
forward-looking statements in this press release at a later date on the basis of
new information, future events, or similar.
Additional features:
Document:http://n.eqs.com/c/fncls.ssp?u=YEPDSUHALK
Document title: GB 2016_EN
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End of ad hoc announcement------------------------------------------------------
Language: English
Company: Highlight Event and Entertainment AG
Netzibodenstrasse 23b
4133 Pratteln
Switzerland
Phone: +41 41 226 05 97
Fax: +41 41 226 05 98
E-mail: info@hlee.ch
Internet: www.hlee.ch
ISIN: CH0003583256
Valor: 896040
Listed: SIX Swiss Exchange
End of Announcement EQS Group News Service
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569005 28-Apr-2017 CET/CEST