Year-end financial statements 2001
- Sales growth of 14% to EUR 52.7 million
- One-off effects make strong negative impact on earnings
- Basis for clear leap into profit zone 2002 created
BRAINPOOL TV AG raised sales by 14% to EUR 52.7 million in 2001 (py: EUR 46 million). The core business of licenses for TV formats developed and produced by the company grew strongly. In this area BRAINPOOL achieved a plus of 21% to EUR 41.8 million. The other divisions Internet (EUR 1.3 million), Merchandising (EUR 7.5 million) and Events (EUR 2.1 million) could only assert themselves in part in a difficult market environment.
Due to extraordinary effects EBIT dropped to minus EUR 15.7 million (py: plus EUR 6.8 million) and the net loss for the year to minus EUR 17.2 million (py: plus EUR 3 million). This produced earnings per share of minus EUR 1.65. The reasons for this are start-up losses and special depreciation of a total of EUR 26 million. Thereof EUR 12 million are related to the print project, depreciation and value adjustments on goodwill and participations (Adori, Spotting Image, RONIN, Show Devant Productions, Mea Culpa) and special depreciation on the program assets amount to approximately EUR 14 million. Cash flow from current business was negative in 2001, in correspondence with the earnings situation (minus EUR 10.7). Liquid funds for the BRAINPOOL Group as at December 31, 2001, were EUR 4.9 million. The number of employees rose to 342 (as at December 31, 2001).
In anticipation of the takeover by VIVA Media AG the BRAINPOOL Group took comprehensive provisions for risk in 2001. A slight rise in sales and a clear return into the profit zone is expected for the 2002 financial year.
Contact: VIVA Media AG. Im Mediapark 2. D-50670 Köln. www.vivamediaag.com
Investor Relations. Michael Armbrust. Phone: +49 (0)221-5744-1700. email@example.com