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<p align=justify>Ad hoc announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------------<p>RTV Family Entertainment AG: Successful restructuring - core business already profitable in first half<p>RTV Family Entertainment AG has increased its turnover by 31% to DM 57.3 mill. (DM 43.8 mill.) in the period 1 January to 30 June 2001. The EBITDA advanced by 42% to DM 29.9 mill. (DM 21.1 mill.). The EBIT was improved by DM 9.2 mill. from DM -6.8 mill. to DM 2.4 mill., thus already reaching 80% of the year`s forecast of DM 3.0 mill. The first-half net income amounted to DM -0.7 mill. following DM -12.9 mill. last year. Both the EBIT and the loss for the prior year period were adjusted on the basis of the exploitation-related depreciation of intangible assets introduced at the end of last year, and therefore deviate from the figures published in the half-yearly report for 2000. As of 30 June RTV had cash in hand of DM 12.3 mill. and free credit lines totalling DM 6 mill. In addition, the majority shareholder Ravensburger AG reiterated its confidence in RTV and provided financing of DM 7.5 mill. RTV will use these funds to expand its core business of animation. RTV is focusing its activities consistently on its two core fields of competence, entertainment for children and families (chiefly animation) and documentaries. RTV is already back to profitability in these fields. Disregarding the extraordinary costs (settlement payments and loss of the already closed subsidiary Waterfront), the first-half results of the RTV Group are also in the black at DM 1.5 mill. This shows that the restructuring concept is proceeding successfully and RTV can build up on a profitable core business. Dr. Peter Duval, who has headed the organisational units of Finance, IR and Merchandising since 1 May 2001, as well as being responsible for integrating the subsidiaries, was appointed CEO with immediate effect on 27 July 2001. The distribution of tasks within the Managing Board remains unchanged, i.e. Peter Hille and Wolfgang Heidrich retain responsibility for their respective organisational units of International Sales / Legal Affairs and Production / Programmes. The complete half-yearly report can be downloaded from the newly designed homepage under http://www.rtv-ag.de.<p>Contact: RTV Family Entertainment AG, Torsten Weihrich, Corporate Communications, Tel.: +49 (0) 89 - 997271-17<p>end of ad hoc announcement (c) DGAP 01.08.2001 -------------------------------------------------------------------------------- WKN: 706 020; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart<p> 010731 Aug 01<p><br><br>Autor: DGAP import (),07:33 01.08.2001</p> |
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| aus der Diskussion: | DGAP-Ad hoc: RTV Family Entertainment <DE0007060204> english = |
| Autor (Datum des Eintrages): | ad_hoc (01.08.01 07:33:09) |
| Beitrag: | 1 von 3 (ID:4097864) |
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