DGAP-Media: Q1 2010: Highlight Group improves profitability
(firmenpresse) - Highlight Communications AG / Finance
26.05.2010 17:41
Dissemination of a Media Release, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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- Revenues and earnings in line with expectations in the first quarter of
2010
- Targets confirmed for 2010 as a whole
Despite difficult market conditions in some cases, the Highlight Group
ended the first quarter of 2010 with its consolidated revenues and net
result for the period within its annual planning. The situation in the TV
service production business area remained challenging due to the
cost-saving measures that many TV broadcasters introduced in the previous
year. In addition, the German cinema market was dominated in the first
three months by the large 3-D productions of the major studios, meaning
that Highlight's theatrical distribution business area did not achieve the
high audience figures of the first quarter of 2009.
In line with expectations, first quarter consolidated revenues were CHF
100.1 million, down by CHF 16.7 million on the previous year's figure of
CHF 116.8 million. Profit from operations fell only slightly to currently
CHF 8.3 million (first quarter of 2009: CHF 8.8 million). Net profit for
the period increased significantly, improving from CHF 5.2 million to CHF
6.1 million. CHF 2.2 million (previous year's period: CHF 0.2 million) of
this relates to non-controlling interests. CHF 1.9 million (previous year's
period: CHF 0.0 million) of this amount relates to UEFA's 20% stake in Team
Holding AG. Correspondingly, the profit share of Highlight shareholders
decreased to CHF 3.9 million. This figure represents earnings per share of
CHF 0.08 - a decrease of CHF 0.03 compared with the previous year.
The Sports- and Event-Marketing segment put in an enjoyable performance in
the first quarter. Revenues increased by 17.5% year-on-year to CHF 24.9
million and the segment result improved by as much as 24.4% to CHF 11.2
million, mainly as a result of the marketing successes of the Highlight
subsidiary TEAM in the current seasons of the UEFA Champions League and the
new UEFA Europa League.
In terms of liquidity, the Highlight Group had cash and cash equivalents of
CHF 187.8 million as of the end of the first quarter of 2010 - a decline of
CHF 13.3 million as compared with the end of 2009 (CHF 201.1 million). This
is offset by financial liabilities of CHF 284.5 million (December 31, 2009:
CHF 317.9 million). Accordingly, net debt dropped significantly by CHF 20.1
million to CHF 96.7 million.
Consolidated equity (including non-controlling interests) recorded a slight
increase of CHF 0.9 million to CHF 111.7 million as against the end of 2009
(CHF 110.8 million). This equity corresponds to a calculated equity ratio
of 19.3% as against 17.5% as of December 31, 2009.
With regard to the year 2010 as a whole, the Highlight Group continues to
assume that consolidated revenues will be between CHF 420 and CHF 440
million and earnings per share between EUR 0.42 and EUR 0.44.
The German interim report as of March 31, 2010 is available for downloading
from the Company's website www.highlight-communications.ch as of today. The
English version will be available from May 28, 2010.
For questions, please contact:
Highlight Communications AG
Investor Relations
Netzibodenstrasse 23b
CH-4133Pratteln
Switzerland
Phone: +41 (0)61 816 96 91
E-Mail: ir(at)hlcom.ch
26.05.2010 17:41 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
Language: English
Company: Highlight Communications AG
Netzibodenstrasse 23b
4133 Pratteln
Schweiz
Internet: www.hlcom.ch
End of News DGAP-Media
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