Ad hoc Release of Intertainment AG
Intertainment sales down for first half of 2003 as expected. Net loss for the period EUR -4.8 million
Ismaning near Munich, August 28, 2003 - In line with expectations, Intertainment AG, Ismaning near Munich, recorded lower sales in the first half of 2003 than in the same period the previous year. The Group's sales revenue fell to EUR 2 million against EUR 11.5 million in the first six months of 2002. The business figures continued to suffer owing to the lawsuit against American film production company Franchise Pictures. The case has already been pending at the Federal District Court in Los Angeles since the end of 2000. In mid-July the competent court postponed the trial date, scheduled for August 5, 2003. A few days later Intertainment filed an application asking for the trial date to begin some time this year. A decision by the court is still awaited.
The EBIT of the Intertainment Group stood at EUR -4.1 million for the first half of 2003, against EUR -1.6 million in the same period the previous year. The net loss for the period was EUR -4.8 million (first half of 2002: EUR -4.1 million). Earnings per share were down from EUR -0.35 to EUR -0.41.
However, in the second quarter of 2003 Intertainment managed to increase sales compared to the first quarter and to reduce losses. Sales rose from EUR 700,000 to EUR 1.3 million. In the second quarter the EBIT stood at EUR -1.8 million, compared to EUR -2.3 million in the first quarter of 2003, while the result for the quarter was EUR -1.9 million, up from EUR -2.8 million.
At the end of June 2003, Intertainment's liquid funds amounted to EUR 2.3 million, compared to EUR 3.8 million at the end of March 2003 and EUR 3.9 million at December 31, 2002.
Intertainment AG, Dr. Marietta Birner, Investor Relations
Osterfeldstraße 84, D-85737 Ismaning
Telephone: + 49 (0)89 21699-0, Telefax: + 49 (0)89 21699-11
Internet: www.intertainment.de, E-Mail: firstname.lastname@example.org
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