Highlight Communications AG / Quarter Results
26.11.2008
Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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· Earnings from operating activities up 8.3% to CHF 34.0 million
· Net consolidated earnings up 35.0% to CHF 24.7 million
· Earnings per share increased to CHF 0.51/EUR 0.31 (previous year: CHF
0.36/EUR 0.22)
Q3 2008: Highlight Group still enjoying success
Pratteln, November 26, 2008: Despite more difficult general conditions, the
Highlight Group has seamlessly continued the earnings-oriented path of the
first half of the year, achieving the best results in the history of the
Highlight Group after the first nine months of the current fiscal year.
Earnings from operating activities improved by 8.3% to CHF 34.0 million
(previous year: CHF 31.4 million). This development was driven by both the
stable results in the Sports and Event Marketing segment and an excellent
performance of the Film segment in the theatrical distri-bution thanks to
the surprise hits 'The Wave' and 'Freche Mädchen' and home enter-tainment
business areas. Thus, Film segment earnings rose from CHF 6.9 million to
CHF 14.6 million, an increase of 111.6 % as against the first nine months
of 2007.
With an increase of 35.0%, net consolidated earnings rose even more
strongly from CHF 18.3 million to CHF 24.7 million. CHF 22.9 million
(previous year: CHF 16.7 million) of net consoli-dated earnings relate to
Highlight shareholders, whose share of earnings therefore increased by
37.1%. This resulted in earnings per share of CHF 0.51 (= EUR 0.31) an
increase of CHF 0.15 (= EUR 0.09) as against the first nine months of 2007.
In the first nine months of 2008, the Highlight Group generated
consolidated revenues of CHF 358.7 million, falling short of the previous
years figure (CHF 369.7 million) by only 3.0%. The slight decline resulted
from service income (revenues from the Sports and Event Marketing segment
and TV service productions), which decreased from CHF 209.7 million in the
previ-ous year to currently CHF 166.0 million. This decline is mainly due
to the fact that service production proceeds in 2007 were dominated by the
event three-part TV film 'Afrika, mon amour', while there have been no
similarly major TV productions to date in the current year.
By contrast, there was a clear increase from CHF 80.2 million to CHF 110.0
million in license income. Firstly, this includes income from theatrical
distribution, which was up significantly on the previous year on account of
the strong distribution slate ('Asterix at the Olympic Games', 'The Wave',
'Step Up 2: The Streets', 'Freche Mädchen' and 'The Baader Meinhof
Complex'). Secondly, this also includes licensing revenues for TV rights.
Income in the report-ing period also clearly exceeded the figure for the
previous year. The generally successful exploitation in the home
entertainment business area led to an increase in sales from CHF 79.7
million to CHF 82.7 million.
In terms of liquidity, the Highlight Group had cash and cash equivalents of
CHF 215.1 million as of September 30, 2008, an increase of CHF 14.6 million
as against the figures at the end of 2007 (CHF 200.5 million). This is
offset by current and non-current financial liabilities of CHF 317.1
million, which remained virtually constant as against December 31, 2007
(CHF 317.0 million). Accordingly, net debt dropped from CHF 116.5 million
to currently CHF 102.0 million.
Consolidated equity (including minority interests) increased significantly
by CHF 16.7 million as against December 31, 2007 (CHF 83.0 million) to CHF
99.7 million at the end of the re-porting period. The rise was mainly due
to the net consolidated earnings for the period of CHF 24.7 million. After
netting cash and cash equivalents against current financial liabilities and
film assets against advance payments received, the adjusted equity ratio as
of September 30, 2008 was 26.4% (December 31, 2007: 22.4 %).
The current year was characterized by the financial crisis, recession fears
and considerably worsened general conditions. Nevertheless, given the
positioning of the Highlight Group as well as the operating development of
its business areas to date, the Highlight Group is still anticipating to
achieve its operating objectives for 2008.
The interim report as at September 30, 2008 is available for download from
www.highlight-communications.ch as of today.
HIGHLIGHT COMMUNICATIONS AG
Investor Relations
4133 Pratteln BL / Switzerland
Phone: 0041 61 816 96 91
e-mail: ir@hlcom.ch
DGAP 26.11.2008
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Language: English
Issuer: Highlight Communications AG
Netzibodenstrasse 23b
4133 Pratteln
Schweiz
Phone: +41 61 816 96 96
Fax: +41 61 816 67 67
E-mail: info@hlcom.ch
Internet: www.hlcom.ch
ISIN: CH0006539198
WKN: 920299
Indices: SDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Hannover, Düsseldorf, Hamburg, München, Stuttgart
End of News DGAP News-Service
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DGAP-News: Q3 2008: Highlight Group still enjoying success
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