As expected, the half-year figures of the Highlight Group failed to reach the high level of the previous year, in which the theatrical distribution business was characterized by the surprise hit “The Wave” with an audience of more than 2.5 million. Because this year’s major releases (“Maria, ihm schmeckt’s nicht!”, “Horst Schlämmer – Isch kandidiere!”, “Wickie und die starken Männer” and “Pope Joan”, among others) are planned for the second half of 2009, consolidated revenues fell by CHF 27.8 million or 11.8% from CHF 236.3 million in the first half of the previous year to CHF 208.5 million currently.
As a result, profit from operations for the first six months of 2009 came in at CHF 13.8 million (CHF 26.5 million) and net profit for the period at CHF 5.9 million (CHF 19.1 million) including further adjustments to financial instruments totaling CHF 4.4 million. Of this amount, CHF 0.4 million relates to minority interests and CHF 5.5 million relates to Highlight shareholders. The Highlight Group therefore reports earnings per share of CHF 0.12 (= EUR 0.08) for the first half of 2009.
Total cash and cash equivalents as of June 30, 2009 were CHF 200.1 million, an increase of CHF 12.6 million compared with the end of 2008 (CHF 187.5 million). Parallel to this, current and non-current financial liabilities were reduced by CHF 12.5 million to CHF 292.3 million. Thus, net debt was reduced by CHF 25.1 million to CHF 92.2 million (December 31, 2008: CHF 117.3 million). Consolidated equity (including minority interests) stood at CHF 95.3 million (December 31, 2008: CHF 98.2 million).
Due to favorable operational prospects, especially in regard to the upcoming theatrical releases, the Highlight Group continues to expect that the Company – under the condition that the CHF/EUR exchange rate remains roughly the same – will generate consolidated revenues of between CHF 490 million and CHF 510 million and earnings per share of between EUR 0.42 and EUR 0.44 for 2009 as a whole.
The interim report as of June 30, 2009 is available for download from www.highlightcommunications.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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