2Q2017: Highlight Group with solid business development
The Highlight Group's figures for the first half of the year were in line with planning for the year as a whole.
Group development in the first half of 2017
Compared to the very strong figure for the same period of the previous year, consolidated sales fell by 22.3% to CHF 160.4 million. The lower sales essentially result from the Film segment, which achieved extraordinarily good sales figures for the hit movies "Fack Ju Göhte 2" and "Look Who's Back" in home entertainment exploitation in the first half of 2016. As expected, the company was not able to repeat these results in the current fiscal year. Consolidated operating expenses declined by 7.8% to CHF 238.3 million. This development is primarily due to lower amortization and impairment losses on film assets. By contrast, the cost of materials and licenses climbed on account of productions. As expected, EBIT declined from CHF 13.9 million to CHF 6.9 million, because, according to planning, no major films were released in the first half of 2017 and no material TV licenses were invoiced in the second quarter. In addition, there had been a one-time accounting profit of CHF 2.6 million from the deconsolidation of Highlight Event and Entertainment AG and Pokermania GmbH in the first half of 2016. The consolidated net profit for the period was also down year-on-year at CHF 4.4 million (previous year's period: CHF 8.1 million). The share of earnings attributable to Highlight shareholders was CHF 4.0 million, corresponding to earnings per share of CHF 0.08. The significant increase in consolidated equity (including non-controlling interests) primarily results from the capital increase from authorized capital performed in the second quarter of 2017. 15,750,000 new shares were issued at a subscription price of EUR 5.20 per share.
In particular due to the strong theatrical slate in the second half of 2017 (including "Das Pubertier", "Ostwind - Aufbruch nach Ora", "Grießnockerlaffäre", "Fack Ju Göhte 3", and "Dieses bescheuerte Herz"), the Highlight Group continues to forecast consolidated sales of between CHF 360 million and CHF 380 million as well as a consolidated net profit attributable to shareholders of between CHF 18 million and CHF 20 million for 2017 as a whole.
On August 23, the Annual General Meeting of Constantin Medien AG elected Dr. Paul Graf as a member of the Supervisory Board, which subsequently elected him as its Chairman on the same day. To allow Dr. Graf to concentrate on his responsible new task, Dr. Graf and the Board of Directors of Highlight Communications AG have agreed that Dr. Graf will set aside his roles at Highlight Communications AG for the time being.
The interim report as of June 30, 2017 will be available for download at www.highlight-communications.ch starting from today.
Highlight Group at a glance Group figures according to IFRS in CHF million 2Q2017 2Q2016 Change in % Sales 160.4 206.5 -22.3 EBIT 6.9 13.9 -50.4 Net profit for the period (after taxes) 4.4 8.1 -45.7 Net profit attributable to shareholders 4.0 8.2 -51.2 Earnings per share (CHF) 0.08 0.19 -57.9 Segment sales Film 131.2 176.9 -25.8 Sports- and Event-Marketing 29.2 29.4 -0.7 Other Business Activities 0.0 0.2 n/a Segment result Film -3.2 0.8 -500.0 Sports- and Event-Marketing 12.9 12.8 0.8 Other Business Activities 0.0 2.7 n/a in CHF million June 30, 2017 Dec. 31, 2016 Change in % Balance sheet total 466.7 368.5 26.6 Equity 230.2 135.3 70.1 Equity ratio (%) 49.3 36.7 12.6 points Current financial liabilities 73.5 52.3 40.5 Cash and cash equivalents 62.6 88.5 -29.3 For more information: Highlight Communications AG Investor Relations Netzibodenstrasse 23b 4133 Pratteln BL, Switzerland Phone: +41 (0)61 816 96 91 E-mail: email@example.com
31.08.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.deLanguage: English
Company: Highlight Communications AG Netzibodenstrasse 23b 4133 Pratteln
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