As expected, the third quarter of 2009 was the strongest of the current fiscal year so far in terms of revenues and earnings. In the period from July to September, the Highlight Group generated consolidated revenues of CHF 142.9 million, representing an increase of 16.7% as against the previous year (CHF 122.4 million). Profit from operations improved to CHF 20.1 million, more than double the figure of CHF 7.6 million in the same period of 2008. The same applies to the net profit for the period, which surged from CHF 5.6 million to CHF 13.9 million.
This development mainly results from the theatrical distribution where a total of three films of Constantin’s distribution slate (“Maria, ihm schmeckt’s nicht!”, “Horst Schlämmer – Isch kandidiere!” and above all “Wickie und die starken Männer”) attracted an audience of more than one million viewers each. Moreover, the positive results of the UEFA Champions League and the UEFA Europa League in the 2008/2009 season had a positive impact on the Sports- and Event-Marketing segment.
At CHF 351.4 million, the Highlight Group’s nine-month revenues are now down only 2% on the prior year (CHF 358.7 million) thanks to significant growth in the third quarter. At CHF 33.9 million, the cumulative profit from operations developed even better by already reaching the previous year’s level of CHF 34.0 million. In contrast, net profit for the period of CHF 19.9 million was below the prior-year figure of CHF 24.7 million. Of this, CHF 18.5 million is attributable to the Highlight shareholders, making the earnings per share CHF 0.40 or EUR 0.27 (previous year: CHF 0.51 or EUR 0.31) for the first nine months of the current fiscal year.
The fact that the level of the profit from operations is not fully reflected in the net profit for the period is mainly because further adjustments were needed in the fair value of financial instruments, as in the first two quarters. This mainly affected the shares of Constantin Medien AG, which are held by the Highlight Group. These adjustments led, among others, to a negative financial result totaling CHF 7.3 million (previous year: CHF -0.2 million).
As of September 30, 2009, the Highlight Group had cash and cash equivalents of CHF 216.1 million, an increase of CHF 28.6 million as against the end of 2008 (CHF 187.5 million).
With regard to the year 2009 as a whole, the Highlight Group continues to assume that consolidated revenues will be between CHF 490 and CHF 510 million and earnings per share between EUR 0.42 and EUR 0.44. However, the prerequisite for this is that the exchange rate between the Swiss Franc and the Euro remains approximately the same.
The interim report as of September 30, 2009 is available for download from www.highlight-communications.ch as of today.
For questions, please contact:
HIGHLIGHT COMMUNICATIONS AG
Investor Relations
4133 Pratteln BL / Switzerland
Phone: 0041 61 816 96 91
e-mail: ir@hlcom.ch
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