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DGAP-Ad hoc: Splendid Media AG | Mail

Tuesday, August 22nd, 2017 | bitcoin updates

DGAP-Ad-hoc: splendid media AG / Key word (s): Half-Year Results / Prognosis Changeover Media AG: Weak sales growth in Splendid Film's home entertainment sector results in unscheduled charges in the half-year financial statements and a reduction in the annual forecast 23.08.2017 / 00 : 09 CET / CESTPublication of Insider Information according to Article 17 MAR, transmitted by DGAP – a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.Splendid Medien AG: Weak sales development in Splendid Film Home Entertainment results in extraordinary charges in the And a reduction in the annual forecast

(Cologne, August 22, 2017) – The Splendid Group generated consolidated sales of EUR 24.4 million (previous year: EUR 25.3 million) in the first half of 2017. The business development in the evaluation segment Home Entertainment of the subsidiary Splendid Film remained in the past Year trend fell short of expectations, as the sales figures of a number of programs in physical video sales were very weak. As a result, extraordinary depreciation on film assets and the formation of a provision for contingent losses were required, which would burden the half-year result with EUR 3.4 million. The operating result before interest and taxes (EBIT) is thus EUR -3.9 million (previous year: EUR 0.5 million) and the group period loss amounts to EUR -4.4 million (previous year: EUR 0.1 million). Earnings per share thus amounted to EUR -0.45 (previous year: EUR 0.01).

For the second half of the year, the Splendid Group expects sales and earnings improvements compared to the first half of the year.

On the basis of the updated segment sales plans, however, the Management Board assumes that the group turnover forecast so far for the full year 2017 will not be reached in a range of EUR 55 million to EUR 60 million. For the full year 2017, the Management Board expects consolidated sales in a range of EUR 51 million to EUR 55 million

The operating EBIT, which has been forecast so far, in a range of EUR 1.0 million to EUR 2.0 million, can no longer be achieved as a result of the non-scheduled effects on earnings. The Management Board now expects operating EBIT for the full year in a range of EUR -2.0 million to EUR -3.0 million

The half-year financial report 2017 with the detailed outlook for the remainder of the financial year 2017 will be published on 31 August 2017.

For further information, please contact: Splendid Medien AGInvestor RelationsKarin OpgenoorthAlsdorfer Str. 350933 KölnTel .: 0221-95 42 32 99Fax: 0221-95 42 32 613karin.opgenoorth@splendid-medien.com

Contact:
Splendid Medien AG
Investor Relations
Karin Opgenoorth
Alsdorfer Str
50933 Cologne, Germany
Tel .: 0221-95 42 32 99
Fax: 0221-95 42 32 613
karin.opgenoorth@splendid-medien.com
23.08.2017 CET / CEST DGAP's Distribution Services include Regulatory Announcements, Financial / Corporate News and Press Releases. Media archive at http://www.dgap.de

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