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MIM MONDO IGEL MEDIA AG

euro adhoc: MIM MONDO IGEL MEDIA AG
Quarterly or Semiannual Financial Statements
MIM MONDO IGEL MEDIA AG Reassesses Financial Statement (E)

  Disclosure announcement transmitted by euro adhoc.
  The issuer is responsible for the content of this announcement.
Expected growth of turnover and EBITDA should lead to neutral
operating result 2004
MIM MONDO IGEL MEDIA AG drastically reassessed its financial
statement in the third quarter. The value of the company’s film
library was adjusted by EUR4.7 million: Of the acquisition costs, a
non-scheduled depreciation of 35 percent of the Mondo Library and 19
percent of the Xilam Library was undertaken. Furthermore, around EUR1
million were depreciated regularly based on license revenue; their
book value in the financial statement now amounts to EUR5.2 million.
This results in a net loss of EUR6.3 million for the period from
January through September 2003 and an equity capital of EUR2.8
million on 30 September, which is EUR0.59 per share. The turnover of
MIM MONDO IGEL MEDIA AG amounted to EUR363,000 in the nine-month
period and is far below projections because of the market
development, which is lagging behind general expectations. Since this
June, Riccardo Corradi has been responsible for distribution. After
he joined the company, two significant co-production agreements were
signed: Firstly, a participation in the production of the TV series
"The Nimbols", which is partially financed by DaimlerChrysler AG, was
arranged with the company Traffix Entertainment GmbH. Additionally,
the co-production "Letters from Felix" was agreed upon with the neue
deutsche Filmgesellschaft mbH (ndf) in the period in question. The
exploitation rights should be licensed to ZDF, among others. These
were the first two significant steps toward fulfilling the strategy
presented at the last two annual shareholders’ meetings. Based on
these co-productions, MIM MONDO IGEL MEDIA AG expects a small annual
profit for the year 2004.
end of announcement        euro adhoc 24.11.2003

Further inquiry note:

jharris@igelmedia.com

Branche: Media
ISIN: DE0006228505
WKN: 622850
Index:
Börsen: Hamburger Wertpapierbörse / regulated dealing
Berliner Wertpapierbörse / free trade
Bayerische Börse / free trade
Börse Düsseldorf / free trade
Baden-Württembergische Wertpapierbörse / free trade
Frankfurter Wertpapierbörse / free trade

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Plus de actualités: MIM MONDO IGEL MEDIA AG