Das Werk AG

euro adhoc: Das Werk AG
Annual Reports
Non-recurrent effects burden the 2001 Results (E)

--------------------------------------------------------------------- Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement. ---------------------------------------------------------------------

Non-recurrent effects burden the 2001 Results EBITDA 20.2 mil. Euro, operative cash flow positive

The Das-Werk Group reported an aggregate operating performance of 129.7 mil. Euro in the financial year 2001. The turnover amounted to 121.8 mil. Euro (88.8 mil. Euro in 2000). The EBITDA was 20.2 million Euro (34.5 mil. Euro in 2000). After adjustments for the non-recurrent factors, the Group had to take into account an operating loss (EBIT) of 7.5 million Euro. The core business segments postproduction (EBIT 3.4 mil. Euro) and film production (EBIT 0.9 mil. Euro) operated at a profit.  

The non-recurrent factors included valuation allowances for accounts receivable and other assets amounting to 4.4 million Euro; furthermore, special write-offs of a total of 3.9 million Euro were carried out on the film assets and depreciation of 7.8 million Euro on the goodwill of the EnEfecto Group. In all, an EBIT of minus 19.5 million Euro was reported (EBIT 2000: 13.3 mil. Euro). The result before taxes (EBT) amounted to minus 25.7 mil. Euro (EBT 2000: 12.9 mil. Euro); the net loss for the year was minus 28.3 mil. Euro (6.6 mil. Euro in 2000). The consolidated financial statements have been prepared in accordance with IAS.

The cash flow from the operating activities amounted to 4.8 million Euro (2000: 35.6 million Euro). The liabilities increased to a total of 109.4 million Euro; of this, project financing of films accounted for 37.9 mil. Euro. The liquid funds on the reporting date amounted to 12.4 mil. Euro.

The Group should operate in the black once again in the current year after implementing a restructuring program in the 4th quarter of 2001.

The Management Board will comment on the 2001 Balance Sheet during a balance sheet press conference, which will be held today, March 28, at 1:30 p.m. in Frankfurt.

end of announcement            euro adhoc 28.03.2002

Further inquiry note: DAS WERK AG Schmidtstr. 12 60326 Frankfurt am Main Press and Public Relations Wolfgang Borgfeld E-Mail presse@das-werk.de Phone 069 97353 440 Fax 069 97353 442 www.das-werk.de

Branche:        Media
ISIN:            DE0005412001
WKN:              541200
Börsen:         Baden-Württembergische Wertpapierbörse, Bayerische
Börse, Börse Düsseldorf, Hamburger Wertpapierbörse,
Handelsüberwachung der Berliner Wertpapierbörse, Niedersächsische
Börse zu Hannover, Frankfurter Wertpapierbörse

Weitere Meldungen: Das Werk AG

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