Highlight Communications AG / Key word(s): Finance/
Q2 2011: Highlight Group closes first half of 2011 in line with
expectations
DGAP-Media / 17.08.2011 / 17:48
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Press Release
- First half of 2011 in line with planning - despite a challenging
development in the exchange rate of the euro in relation to the Swiss
franc
- Annual forecast of earnings per share between EUR 0.52 and EUR 0.54
reconfirmed
Pratteln, August 17, 2011
In the first half of 2011, the Highlight Group generated sales and earnings
figures in line with the planning for 2011.
As expected, consolidated sales in the first half of the year were lower
than the previous year's figure, amounting to CHF 159.7 million after
CHF 180.5 million. In line with planning, lower income was achieved in
theatrical distribution, as the major theatrical releases are not due until
the second half of 2011. In addition, continued difficult market conditions
in TV service production and the license trading/TV exploitation area as
well as the significant decrease in the exchange rate of the euro to the
Swiss franc also had an impact, especially in the second quarter of 2011.
Despite the lower sales, the profit from operations fell only slightly from
CHF 22.8 million in the first half of 2010 to its current level of
CHF 21.1 million. Net profit amounted to CHF 16.2 million, while the profit
share attributable to Highlight shareholders of CHF 14.9 million remained
at the previous year's level (CHF 14.8 million). In relation to the average
number of shares outstanding, this corresponds to earnings per share of
CHF 0.32 (previous year's period: CHF 0.32).
The Film segment closed the first half of 2011 with segment earnings of
CHF 6.6 million, up 73.7% on the previous year's period (CHF 3.8 million).
As a result of the lower income from the theatrical distribution, TV
service production and license trading/TV exploitation business areas,
segment sales amounted to CHF 113.8 million (first half of 2010:
CHF 129.9 million).
The Sports- and Event-Marketing segment generated external sales of
CHF 45.9 million. This was generated almost entirely in euros and, in
comparison with the previous year's period (CHF 50.5 million), was marked
by the negative effects of the devaluation of the euro in relation to the
Swiss franc. With expenses virtually unchanged at CHF 28.8 million, the
segment nonetheless generated earnings of CHF 17.1 million (first half of
2010: CHF 21.5 million).
The cash and cash equivalents of the Highlight Group amounted to
CHF 151.6 million as of June 30, 2011 - a decrease of CHF 14.4 million as
against the end of 2010 (CHF 166.0 million). Parallel to this, current
financial liabilities fell by CHF 4.5 million to CHF 246.9 million
(December 31,2010: CHF 251.4 million).
Consolidated equity (including non-controlling interests) rose by
CHF 2.0 million to CHF 74.6 million compared with the end of the previous
year (CHF 72.6 million).
All in all, the Highlight Group already generated earnings per share of
EUR 0.25 (CHF 0.32) in the first half of 2011, which were thus at the
previous year's level.
On the basis of the strong operational outlook for the second half of the
year, particularly in view of the upcoming 3-D theatrical releases 'The
Three Musketeers' and 'Wickie auf grosser Fahrt', we continue to anticipate
that - provided exchange rate conditions do not deteriorate further - the
Highlight Group will achieve consolidated sales of CHF 430 million to
CHF 450 million and earnings per share of EUR 0.52 to EUR 0.54 in 2011 as a
whole.
The interim report as of June 30, 2011 is available for downloading from
the company's website www.highlight-communications.ch as of today.
For questions, please contact:
HIGHLIGHT COMMUNICATIONS AG
Investor Relations
Netzibodenstrasse 23b
4133 Pratteln BL / Switzerland
Phone: 0041 61 816 96 91
E-mail: ir@hlcom.ch
End of Media Release
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17.08.2011 Dissemination of a Press Release, transmitted by DGAP - a
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Language: English
Company: Highlight Communications AG
Netzibodenstrasse 23b
4133 Pratteln
Switzerland
Phone: +41 61 816 96 96
Fax: +41 61 816 67 67
E-mail: info@hlcom.ch
Internet: www.hlcom.ch
ISIN: CH0006539198
WKN: 920299
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
München, Stuttgart
End of News DGAP-Media
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136063 17.08.2011
(END) Dow Jones Newswires
August 17, 2011 11:48 ET (15:48 GMT)