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DGAP-Ad hoc: IM Internationalmedia AG english IM Internationalmedia AG announces figures for the second quarter 2004 Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- IM Internationalmedia AG announces figures for the second quarter 2004 Munich/Los Angeles, August 12, 2004 - In the first half year of 2004 the Internationalmedia group generated revenues of EUR 52.0 million, due in large measures to minimum guarantees from MINDHUNTERS as well as overages from the film TERMINATOR 3: RISE OF THE MACHINES. Although this represents a decline of EUR 36.9 from the previous year, it must be noted that the first half year of 2003 saw four theatrical releases while this year`s first half had one. The depreciation of film development costs, which do not have an impact on liquidity though, negatively impact this year`s outlook and amounted to EUR 9.2 million. This represents an improvement of EUR 1.3 million compared to the same period last year. Actual film development spending though, which does have an impact on liquidity, amounted to only EUR 4.2 million in the first six months. Overhead costs show a positive development. Amounting to nearly EUR 6.5 million in this year`s first half, this represents a further reduction of about 31% compared to the same period last year. Overall the first six months show a negative operating result (EBIT) of EUR -13.3 million, which is a decline of EUR 4.0 million compared to last half year`s result of EUR -9.3 million. The group`s equity ratio improved to 19.7 percent from 16.9 percent at the end of 2003. Bank liabilities were reduced by EUR 73.4 million. Thanks to continued cost reduction efforts the company generated a positive free cash flow for the first six months of this year. After also taking into account the positive effect of the April closing of the bridge loan, which was primarily used for debt reduction, liquidity was at EURO 1.2 million at the end of the second quarter. The bridge facility was refinanced in July with a $30 million term loan. The incremental liquidity generated by this refinancing will constitute additional cash resources available to the company, which will be reflected in the third quarter results. Contact IM Internationalmedia AG Investor Relations Telephone: +49 (89) 98 107 100 Fax: +49 (89) 98 107 199 E-Mail: info@internationalmedia.de end of ad-hoc-announcement (c)DGAP 12.08.2004 -------------------------------------------------------------------------------- WKN: 548880; ISIN: DE0005488803; Index: SDAX Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart |
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| Autor (Datum des Eintrages): | ZockerFreak (12.08.04 08:54:41) |
| Beitrag: | 1 von 45 (ID:14019376) |
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