Q3 2013: Business development in the Film segment below expectations so far
(firmenpresse) - (DGAP-Media / 11.11.2013 / 18:39)
- Consolidated sales of CHF 262.0 million after nine months
- Consolidated net profit at CHF 6.8 million
- Annual forecast of consolidated sales of CHF 350 to CHF 400 million
confirmed
For 2013 as a whole, the Highlight Group is assuming consolidated sales of
CHF 350 to CHF 400 million. The business areas theatrical distribution and
license trading did not manage to continue the good business development of
the previous year so far, which had been characterized by the blockbuster
successes 'Türkisch für Anfänger' and 'Resident Evil: Retribution'.
As of September 30, 2013, external sales of the Film segment were down
year-on-year at CHF 222.7 million (CHF 248.2 million). Segment expenses
rose by CHF 10.3 million to CHF 310.2 million, primarily as a result of a
significant rise in the cost of materials and licenses in connection with
productions. As a result, segment earnings were also below the previous
year's level at CHF 0.1 million (CHF 9.5 million).
With regard to the Film segment's earnings, we expect considerable
contributions from the films 'Fack ju Göhte' and 'Walking with Dinosaurs
3D' in the fourth quarter.
The sales development of the Sports- and Event-Marketing segment is still
essentially characterized by changes in the business relationship with
UEFA. External sales of CHF 36.5 million were generated in the first nine
months of this year (previous year's period: CHF 57.1 million). The decline
in sales was partially offset by cost savings of CHF 9.5 million, resulting
in segment earnings of CHF 13.7 million. As ex¬pected, this was lower than
the previous year's figure.
The Other Business Activities segment generated external sales of CHF 2.8
million (previous year's period: CHF 7.3 million). Parallel to this,
expenses were reduced from CHF 9.4 million to CHF 5.8 million. This
resulted in a segment loss of CHF 2.1 million (previous year's period: CHF
1.0 million).
At Group level, these developments were reflected in a sales decline from
CHF 312.7 million to CHF 262.0 million. Consolidated operating expenses
decreased slightly from CHF 345.0 million to CHF 342.6 million, leading to
EBIT that was down year-on-year by September at CHF 7.3 million (CHF 29.8
million). This resulted in a consolidated net profit for the period of CHF
6.8 million (previous year's period: CHF 21.3 million), CHF 6.1 million
(previous year's period: CHF 20.7 million) of which is attributable to
Highlight shareholders.
Cash and cash equivalents declined by CHF 19.4 million as against the end
of 2012 (CHF 72.5 million) to CHF 53.1 million. Due to investments in the
Film segment, current financial liabilities rose at the same time by CHF
36.2 million to CHF 172.2 million (December 31, 2012: CHF 136.0 million).
Accord¬ingly, net debt increased to CHF 119.1 million (December 31, 2012:
CHF 63.5 million) as of the balance sheet date.
Consolidated equity (including non-controlling interests) fell by CHF 9.2
million to CHF 102.1 million (December 31, 2012: CHF 111.3 million). This
development is primarily due to dividend distributions (CHF 9.4 million)
and the acquisition of treasury shares (CHF 8.2 million). Relative to the
significantly higher total assets, this resulted in a sound notional equity
ratio of 22.4% as of September 30, 2013.
The interim report as of September 30, 2013 is available for downloadingfrom the company's website www.highlight-communications.ch as of today.
End of Media Release
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Issuer: Highlight Communications AG
Key word(s): Finance
11.11.2013 Dissemination of a Press Release, transmitted by DGAP - a
company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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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: ir(at)hlcom.ch
Internet: www.hlcom.ch
ISIN: CH0006539198
WKN: 920299
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
München, Stuttgart
End of News DGAP-Media
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239222 11.11.2013
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