ots Ad hoc-Service: Highlight Communications <DE0009203059> Substantial revenues and earnings growth in the first half of 2000
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Highlight Communications AG: Substantial revenues and earnings growth in the first half of 2000
- At CHF 68.9 million, first-half revenues more than doubled
(108%) over the first half of 1999.
- Disproportionately large increase in operating profit to CHF
19.1 million (up 305%).
- Increase in operating cash flow to CHF 29.6 million.
- EBIT margin widened substantially.
- Post-tax consolidated earnings in the year to June 30 of roughly
CHF
- 13.0 million, more than 2.5 times higher than the entire year's
profit in 1999.Listed in the Neuer Market segment of the Deutsche Börse AG stock exchange, Highlight Communications AG, Pfäffikon, Switzerland continued successfully on its growth course in the first half of 2000. In the first six months of the year, the Highlight Group's consolidated revenues rose to CHF 68.9 million, more than twice as high as in the first half of 1999 (CHF 33.2 million, up 108%).
EBIT increased from CHF 4.7 million in the first half of 1999 to CHF 19.1 million in the first half of 2000, equivalent to growth of 305% and accompanied by a further substantial widening of margins. Allowing for licensing expenditure, earnings before tax, income and depreciation/amortization on film assets (EBITDA) came to CHF 31.8 million in the first half, up from CHF 13.6 million one year earlier. DVFA/SG post- tax earnings equaled CHF 13.0 million.
DVFA/SG earnings per share in the year to June 30, 2000 stand at approx. CHF 0.28 (Euro 0.17). This figure is based on the 10% higher share capital following the capital increase. Projections for the year as whole take account of the fact that no earnings from cinema exploitation and first- time TV exploitation were scheduled in the first half of the year. The Universal Pictures movie "U-571" (September 14, 2000) and "Scary Movie" from Miramax (October 5, 2000), which are already box-office smashes in the United States, as well as the eagerly awaited "Blair Witch 2" (November 2, 2000) are not slated for release in Germany until the second half of the year.
Therefore in view of the Group's performance to date, continued strong growth in excess of forecast figures is expected for the second half of the year.
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