TV Loonland AG

euro adhoc: TV Loonland AG
Quarterly or Semiannual Financial Statements
TV-Loonland┬ĺs second quarter revenues meet previous year level - EUR 0.4 million net income for the year (E)

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Unterf├Âhring 29 August 2003 - Weighted down by the difficult television advertising market, TV-Loonland revenues with EUR 9.2 (Previous Year: 15.3) million in the first half-year of 2003 were significantly below those of the previous year. However, there were some signs in the second quarter that seem to indicate a possible improvement in the demand for TV programs in the months to come. While TV-Loonland┬ĺs second-quarter revenues of EUR 5.8 (PY: 6.2) million remained on an even keel year-to-year, they did contain extraordinary effects such as Video and DVD Revenues of the top title Donnie Darko of subsidiary Metrodome.  After years of making losses, Metrodome managed to break even in the first half-year of 2003. The management is now aiming to build on the successes of the new strategy and break even for the entire year of 2003.

The cost-cutting steps in force at TV-Loonland since last year are having an increasingly positive impact. The measures led to a 27 percent decrease in personnel expenses to EUR 2.2 (PY: 3.1; Q1: 1.1) million and to a 28 percent reduction in other operating expenses to EUR 4.4 (PY: 6.2; Q1: 2.0) million.

In the first six months of 2003 overall, TV-Loonland achieved a positive EBITDA of EUR 3.2 (PY: 5.5) million. EBIT amounted to EUR 0.8 (PY: -7.9) million.

Overall, net income improved considerably over the previous year and Q1, reaching EUR +0.4 (PY: -5.6; Q1: -0.9).  

In the months ahead, TV-Loonland will continue to pursue its current path; one of its key goals is to step up its licensing sales activities before the end of the year, which is traditionally strong, and in the run-up to MIPCOM. The international presence and effectiveness of the sales team, strengthened by the completion of the new productions in the second half-year of 2003, should boost revenues even more.

Despite the initial signs of a possible improvement in the market, more successes of the Home Entertainment business unit and the imminent completion of productions with strong potential in the second half-year, the Managing Board expects 2003 to continue on a difficult course, which, however, will not fall short of its goal - a positive EBITDA.

end of announcement            euro adhoc 29.08.2003
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Further inquiry note: Ilona McLean Tel.: +49 (0)89 20 50 80 E-Mail: imclean@loonland.com

Branche: Media
ISIN:      DE0005348403
WKN:        534840
Index:    CDAX, Classic All Share, Prime All Share, Prime Standard
B├Ârsen:  Frankfurter Wertpapierb├Ârse / regulated dealing
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