euro adhoc: TV Loonland AG / Quarterly or Semiannual Financial Statements / TV-Loonland with positive operational cash flow -Clearer indications of an end to slack demand in the media market (E)

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Thanks to its successful implementation of a rigorous cost-savings
program, TV-Loonland was able to turn the tide in operational cash
flow in the third quarter of 2003: Operational cash flow was
positive, at EUR 0.13 (Q2: -0.86, PY: 5.3) million. EBITDA was also
positive, running at EUR 3.8 (PY: 5.9) million. The loss was narrowed
considerably to EUR -1.2 (PY: -7.9) million.

Although the media market is showing the first glimmerings of
normalization, TV-Loonland has yet to record a major change in
revenues in the third quarter. Revenues amounted to EUR 12.3 (PY:
23.6) million. Nonetheless, the increasing number of inquiries, new
customer relationships and keen interest in home entertainment are
all indications that the media market may recover next year. Major TV
stations have expressed growing interest in co-productions.
TV-Loonland expects to be able to kick off new in-house productions
in the first half-year of 2004.

The business unit Home Entertainment remained a solid performer,
contributing a total of EUR 4.4 (PY: 10.3 including SRE Corporation)
million to Group revenues. After adjusting for the extraordinary
restructuring costs, Metrodome has already turned a net profit for
the year. The restructuring steps in force at TV-Loonland since last
year had a highly positive impact, bringing operational cash flow up
to EUR 0.13 million, after EUR -0.86 six months ago. The measures led
to an astonishing 32 percent decrease in personnel expenses to EUR
2.8 (PY: 4.2; HY: 2.2) million and to a drastic 56 percent reduction
in other operating expenses to EUR 4.2 (PY: 9.5; HY: 4.4) million.
This is an indication that TV-Loonland has developed an extremely
lean corporate structure that would ensure a positive EBITDA in 2004,
even if the market slump were to continue.

Further inquiry note:
Ilona McLean
Tel.: +49 (0)89 20 50 80
E-Mail: [email protected]
Tel: +49 (0)89 20508 0
FAX: +49 (0)89 20508 199
Email: [email protected]

end of announcement        euro adhoc 28.11.2003
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Emittent: TV Loonland AG
          Münchner Str.  16
          DE-85774 Unterföhring
Tel:      +49 (0)89 20508 0
FAX:      +49 (0)89 20508 199
Email:    [email protected]
WWW:      www.tv-loonland.de
ISIN:     DE0005348403
WKN:      534840
Indizes:  CDAX, Classic All Share, Prime All Share, Prime Standard
Börsen:   regulated dealing Frankfurter Wertpapierbörse; free trade

Niedersächsische Börse zu Hannover, Berliner Wertpapierbörse,
Bayerische Börse, Hamburger Wertpapierbörse, Bremer Wertpapierbörse
(BWB), Börse Düsseldorf, Baden-Württembergische Wertpapierbörse
Branche: Media
Sprache: Englisch

OTS0297    2003-11-28/22:32

OTS-ORIGINALTEXT UNTER AUSSCHLIESSLICHER INHALTLICHER VERANTWORTUNG DES AUSSENDERS | OTB

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