EANS-Adhoc: JoWooD Entertainment AG presents quarterly results Q3/2009
ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement.
quarterly report
30.11.2009
- JoWooD Entertainment AG presents a very good result in the third quarter of FY 2009 - Increase in revenues on a quarterly- and YTD-basis - EBIT and Net Income of the third quarter increased compared to previous year - Equity ratio amounts to 60% - Setup and integration of the distribution structure largely finalised per the end of Q3/2009
JoWooD Entertainment achieved an excellent result in the third quarter of FY 2009. Top line revenues have been increased in the third quarter, as well as over the first 9 months of the FY compared with previous year´s reference period.
in EUR 000s Q3 2009 Q3 2008 change in %
Revenues 6.404 6.289 +1,8% EBIT 349 340 +2,6% Net Income 125 50 +150 %
in EUR 000s 01-09 2009 01-09 2008 change in %
Revenues 18.627 18.595 +0,2% EBIT 1.655 1.836 -9,8% Net Income 967 1.057 -8,5%
Revenues of the third quarter amount to EUR 6,40 million, with an increase over previous year´s reference period of EUR 6,29 million. Considering the setup and the integration of the company´s distribution network, especially in two European core territories France and United Kingdom, as well as the given seasonality of the third quarter, the achieved revenues are very satisfactory. Revenues for the first 9 months of the FY amount to EUR 18,63 million as per September 30 2009 (previous year: EUR 18,56 million).
On the one hand, these revenues are characterized by a profitably growing core business in Europe, especially in Germany, Austria, France, United Kingdom, and Italy, on the other hand the given, challenging total market conditions in North America, especially in the third quarter.
The EBIT of the third quarter amounts to EUR 0,35 million and has been increased over previous year´s reference period (previous year: EUR 0,34 million). This corresponds to an EBIT-margin of 5,45%, which again has been increased over last year´s reporting period (previous year: 5,40%).
EBIT of the first 9 months of FY 2009 amounts to EUR 1,66 million (previous year: EUR 1,84 million). This results in an EBIT-margin of 8,88% for 2009´s reporting period, and 9,87% for the reference period of the previous year. In particular, the first two quarters of the ongoing FY were characterized by market opening investments, and the alignment of the entire distribution structure towards direct distribution in European core territories, respectively. The improved profit margins of the third quarter (compared to the previous year) are - sales and distribution measures aside - a direct consequence of the current efficiency-raising programs in execution, especially in the domain of production cost, which will have a positive impact in the upcoming quarters.
Net income of the third quarter of FY 2009 amounts to EUR 0,13 million (previous year: EUR 0,05 million). In a direct comparison, the net income has been increased by 150%. The net income for the reporting period of January until (including) September 2009 amounts to EUR 0,97 million (previous year: EUR 1,06 million).
The strategic setup of the sales- and distribution structures was an essential, propulsive step with regards to the upcoming serial-release of top titles, which started with the launch of "Yoga" for Wii.
end of announcement euro adhoc
Further inquiry note:
JoWooD Entertainment AG
Dr. Albert Seidl, Vorstand
Mag. Philipp Brock, Investor Relations
Tel.: +43 (0)3612 2828
mailto:investor@jowood.com
http://corporate.jowood.com
Branche: Software
ISIN: AT0000747357
WKN: 935221
Index: WBI, ATX Prime, ViDX
Börsen: Berlin / free trade
Frankfurt / free trade
Stuttgart / free trade
München / free trade
Wien / official dealing