Q1 2012: Highlight Group concludes first quarter in line with expectations
(firmenpresse) - Highlight Communications AG / Key word(s): Finance/
Q1 2012: Highlight Group concludes first quarter in line with
expectations
DGAP-Media / 23.05.2012 / 17:45
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Press Release
- Consolidated sales of CHF 86.8 million virtually unchanged compared to
the first quarter of 2011 (CHF 86.7 million) due to the depreciation of
the euro
- Consolidated net profit for the period of CHF 7.7 million
(CHF 9.9 million) in line with planning; earnings per share of CHF 0.17
(CHF 0.20)
- Net debt further reduced by CHF 9.1 million to CHF 54.4 million
- Forecast for 2012 confirmed
Pratteln, May 23, 2012
In the first three months of 2012, the financial performance of the
Highlight Group continued to be influenced by the appreciation of the Swiss
franc, although results were in line with expectations.
At CHF 86.8 million, consolidated sales remained at the same level as in
the first quarter of 2011 (CHF 86.7 million), largely as a result of the
exchange rate impact. In contrast, consolidated operating expenses rose by
CHF 7.3 million to CHF 94.1 million. Consequently, the profit from
operations fell from CHF 14.4 million to CHF 10.1 million year-on-year. The
same applies to consolidated net profit, which totaled CHF 7.7 million
(previous year's period: CHF 9.9 million). Based on the number of shares
outstanding, earnings per share amounted to CHF 0.17 (previous year's
period: CHF 0.20).
External sales of the Film segment increased from CHF 63.6 million to
CHF 64.3 million and other segment income rose from CHF 13.2 million to
CHF 17.0 million. At the same time, segment expenses climbed to
CHF 79.8 million (previous year's period: CHF 71.6 million), particularly
as a result of higher amortization and depreciation as well as greater cost
of materials and licenses. Furthermore, it should be noted that on the one
hand the previous year's figures had been positively impacted by
extraordinary effects, while on the other hand there was less TV license
income in the first quarter of 2012. In line with the exploitation cycles,
this income will not be generated until the second quarter. Accordingly,
segment earnings declined from CHF 5.2 million in the first quarter of 2011
to currently CHF 1.6 million.
Primarily as a result of the depreciation of the euro against the Swiss
franc, external sales of the Sports- and Event-Marketing segment declined
by 5.6% to CHF 21.8 million (previous year's period: CHF 23.1 million).
However, thanks to a significant reduction in segment expenses of
CHF 2.4 million to CHF 11.7 million, sales losses were offset, thereby
leaving segment earnings stable year-on-year at CHF 10.5 million
(CHF 10.4 million).
The Other Business Activities segment, formed effective July 1, 2011,
generated external sales of CHF 0.6 million and other income of
CHF 0.3 million. After deducting segment expenses of CHF 1.5 million, the
segment posted a loss of CHF 0.6 million.
As of the end of the first quarter of 2012, the Highlight Group had cash
and cash equivalents of CHF 168.8 million - an increase of CHF 28.1 million
as against the end of 2011 (CHF 140.7 million). This figure was offset by
financial liabilities of CHF 223.2 million (December 31, 2011:
CHF 204.2 million). Accordingly, net debt was reduced by a further
CHF 9.1 million to CHF 54.4 million.
Consolidated equity (including non-controlling interests) rose by
CHF 10.4 million to CHF 106.4 million as against the end of 2011
(CHF 96.0 million). The increase essentially resulted from the net profit
for the period of CHF 7.7 million.
Assuming that exchange rates remain roughly stable, the Highlight Group
still expects to generate consolidated sales for 2012 as a whole of between
CHF 370 million and CHF 390 million and earnings per share of EUR 0.42 to
EUR 0.44.
The German interim report as of March 31, 2012 is available for downloading
from the company's website www.highlight-communications.ch as of today. The
English version will be available as of May 25, 2012.
For questions, please contact:
HIGHLIGHT COMMUNICATIONS AG
Investor Relations
Netzibodenstrasse 23b
4133 Pratteln BL / Switzerland
Phone: 0041 61 816 96 91
E-mail: ir(at)hlcom.ch
End of Media Release
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23.05.2012 Dissemination of a Press Release, transmitted by DGAP - a
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The issuer is solely responsible for the content of this announcement.
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Language: English
Company: Highlight Communications AG
Netzibodenstrasse 23b
4133 Pratteln
Switzerland
Phone: +41 61 816 96 96
Fax: +41 61 816 67 67
E-mail: info(at)hlcom.ch
Internet: www.hlcom.ch
ISIN: CH0006539198
WKN: 920299
Indices: SDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
München, Stuttgart
End of News DGAP-Media
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