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TV Loonland AG

euro adhoc: TV Loonland AG
Quarterly or Semiannual Financial Statements
TV-Loonland with positive operational cash flow -Clearer indications of an end to slack demand in the media market (E)

  Disclosure announcement transmitted by euro adhoc.
  The issuer is responsible for the content of this announcement.
Thanks to its successful implementation of a rigorous cost-savings
program, TV-Loonland was able to turn the tide in operational cash
flow in the third quarter of 2003: Operational cash flow was
positive, at EUR 0.13 (Q2: -0.86, PY: 5.3) million. EBITDA was also
positive, running at EUR 3.8 (PY: 5.9) million. The loss was narrowed
considerably to EUR -1.2 (PY: -7.9) million.
Although the media market is showing the first glimmerings of
normalization, TV-Loonland has yet to record a major change in
revenues in the third quarter. Revenues amounted to EUR 12.3 (PY:
23.6) million. Nonetheless, the increasing number of inquiries, new
customer relationships and keen interest in home entertainment are
all indications that the media market may recover next year. Major TV
stations have expressed growing interest in co-productions.
TV-Loonland expects to be able to kick off new in-house productions
in the first half-year of 2004.
The business unit Home Entertainment remained a solid performer,
contributing a total of EUR 4.4 (PY: 10.3 including SRE Corporation)
million to Group revenues. After adjusting for the extraordinary
restructuring costs, Metrodome has already turned a net profit for
the year. The restructuring steps in force at TV-Loonland since last
year had a highly positive impact, bringing operational cash flow up
to EUR 0.13 million, after EUR -0.86 six months ago. The measures led
to an astonishing 32 percent decrease in personnel expenses to EUR
2.8 (PY: 4.2; HY: 2.2) million and to a drastic 56 percent reduction
in other operating expenses to EUR 4.2 (PY: 9.5; HY: 4.4) million.
This is an indication that TV-Loonland has developed an extremely
lean corporate structure that would ensure a positive EBITDA in 2004,
even if the market slump were to continue.
end of announcement        euro adhoc 28.11.2003

Further inquiry note:

Ilona McLean
Tel.: +49 (0)89 20 50 80
E-Mail: imclean@loonland.com

Branche: Media
ISIN: DE0005348403
WKN: 534840
Index: CDAX, Classic All Share, Prime All Share, Prime Standard
Börsen: Frankfurter Wertpapierbörse / regulated dealing
Niedersächsische Börse zu Hannover / free trade
Berliner Wertpapierbörse / free trade
Bayerische Börse / free trade
Hamburger Wertpapierbörse / free trade
Bremer Wertpapierbörse (BWB) / free trade
Börse Düsseldorf / free trade
Baden-Württembergische Wertpapierbörse / free trade

Plus de actualités: TV Loonland AG
Plus de actualités: TV Loonland AG