euro adhoc: MIM MONDO IGEL MEDIA AG / Quarterly or Semiannual Financial Statements / MIM MONDO IGEL MEDIA AG Reassesses Financial Statement (E)

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Expected growth of turnover and EBITDA should lead to neutral operating result 2004

MIM MONDO IGEL MEDIA AG drastically reassessed its financial statement in the third quarter. The value of the company’s film library was adjusted by EUR4.7 million: Of the acquisition costs, a non-scheduled depreciation of 35 percent of the Mondo Library and 19 percent of the Xilam Library was undertaken. Furthermore, around EUR1 million were depreciated regularly based on license revenue; their book value in the financial statement now amounts to EUR5.2 million. This results in a net loss of EUR6.3 million for the period from January through September 2003 and an equity capital of EUR2.8 million on 30 September, which is EUR0.59 per share. The turnover of MIM MONDO IGEL MEDIA AG amounted to EUR363,000 in the nine-month period and is far below projections because of the market development, which is lagging behind general expectations. Since this June, Riccardo Corradi has been responsible for distribution. After he joined the company, two significant co-production agreements were signed: Firstly, a participation in the production of the TV series "The Nimbols", which is partially financed by DaimlerChrysler AG, was arranged with the company Traffix Entertainment GmbH. Additionally, the co-production "Letters from Felix" was agreed upon with the neue deutsche Filmgesellschaft mbH (ndf) in the period in question. The exploitation rights should be licensed to ZDF, among others. These were the first two significant steps toward fulfilling the strategy presented at the last two annual shareholders’ meetings. Based on these co-productions, MIM MONDO IGEL MEDIA AG expects a small annual profit for the year 2004.

Further inquiry note:
Tel: +49(0)40 306896 0
FAX: +49(0)40 306896 68

Emittent: MIM MONDO IGEL MEDIA AG Palmaille 124 b DE-22767 Hamburg Tel: +49(0)40 306896 0 FAX: +49(0)40 306896 68 Email: WWW: ISIN: DE0006228505 WKN: 622850 Indizes: Börsen: regulated dealing Hamburger Wertpapierbörse; free trade

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Berliner Wertpapierbörse, Bayerische Börse, Börse Düsseldorf, Baden-Württembergische Wertpapierbörse, Frankfurter Wertpapierbörse Branche: Media
Sprache: Englisch