Ad-hoc announcement
Intertainment AG achieves DM 2.6 m surplus in first half year
Special effects influence results.
Ismaning / Munich 28th August 2001 - Intertainment AG, Ismaning / Munich, achieved a DM 2.6 m /
EUR 1.3 m half-year surplus for the group in the first half of the current financial year 2001,
despite the pending lawsuit with the US film producer Franchise Pictures. In the same period of
the previous year, Intertainment managed a DM 23.7 m / EUR 12.1 m surplus. The half-year
results include special effects in connection with the lawsuit: on one hand, legal consultancy
costs and legal costs of DM 6.3 m / EUR 3.2 m; on the other hand, an extraordinary result of DM
5.6 m / EUR 2.9 m conditional to the renunciation on claims by a bank in connection with the
legal dispute to the value of up to DM 108 m / EUR 55.22 m of which DM 48.6 m / EUR 24.8 m
shows itself in the first half-year. At the same time Intertainment AG is setting up a risk
provisioning of DM 43 m / EURO 22 m to take into account the disputed excessive budget.
The results from ordinary business activities amounts to minus DM 1.4 m / EUR 0.7 m. This
result does not take the extraordinary result into consideration.
Turnover for the first six months stood at DM 28.8 m / EUR 14.7 m (first half year 2000: DM
134.4 m / EUR 68.7 m). Earnings before interest and tax (EBIT) amounts in due consideration of
the extraordinary result DM 1.0 m / EUR 0.5 m (DM 63.8 m /EUR 32.6 m). The low EBIT is the
result of the lawsuit, as Intertainment did not acquire film licenses, but instead achieved
high income from interest.
The rights to "Get Carter" and "Driven", which are, among others, the
object of the lawsuit, will first be exploited through Warner Brothers at the beginning of the
third quarter. In accordance with an in court or out of court settlement, the owner of the
rights is entitled to the proceeds from exploitation.
By the end of the year, funds stood at DM 26 m / EUR 13.3 m (DM 46.8 m / EUR 23.93 m).
Intertainment retains trade account receivables to the amount of DM 160 m / EUR 81.8 m.
You will find the quarterly report soon on our web-site at http://www.intertainment.de/de/downloads/int_q2_2001_en.pdf
.
Contact:
Intertainment Aktiengesellschaft
Marietta Birner
Osterfeldstraße 84
85737 Ismaning
Telephone: 0 89 / 216 99 - 0
Fax: 0 89 / 216 99 - 11
Internet: www.intertainment.de
E-Mail: investor@intertainment.de