CINEMEDIA AG
Berliner Synchron AG with significantly improved results; successful restructuring; positive outlook.
Berliner Synchron AG / Key word(s): Final Results Berlin, 24.06.2014 – As expected by the Board, Berliner Synchron AG achieved significantly improved results in 2013 and has created the basis for a sustainable turnaround. This means that the long-established company almost broke even with a net loss of EUR -69,000 (after EUR -317,000 the previous year). With a turnover of EUR 7,395 (previous year: EUR 8,393 thousand), the results from normal business activities also improved from EUR -954,000 in the previous year to EUR -345,000 in the reporting period of 2013. Various factors have had an impact on the results. For example, management and staff have worked closely together to implement a reorganisation of internal work processes which will be stepped up from the current fiscal year with the help of targeted investment. In 2013, savings were able to be made in the area of personnel costs in particular. With a view to the good order situation, the Board notes that a further reduction in personnel is not currently planned. In addition, the financial result has improved significantly from EUR -311,000 to EUR -168,000, as the sale of the business property resulted in the clearing of all long-term bank loans and all other short to medium-term liabilities. However, the transaction resulted in rental expenses in other operating costs and high exceptional costs which, despite not inconsiderable extraordinary loan waiver income, led to a neutral result of EUR -269,000. Through the sale of the company’s premises, Berliner Synchron AG also managed to ease the liquidity situation and, combined with the capital reduction, improve the balance sheet significantly. On the balance sheet date of 31.12.2013, the equity ratio of 42 percent was up from 20 percent the previous year. For the current 2014 fiscal year, and with a view to the positive business development in the first few months, the Management Board expects an increase in turnover and further improved results. Growth is expected again in the cinema segment in particular, but turnover is also expected to increase in TV and the emerging field of corporate media. With the publication of the annual financial statement on 30.06.2014, the Board of Directors will announce first details of the company’s future strategy which in addition to generic growth through digitalization also includes external growth in the medium term. Upcoming Events 30 June 30 2014: Publication of 2013 financial results and press release on strategy About Berliner Synchron AG Berliner Synchron AG is the origin of dubbing services in Germany for the professional language adaptation and subtitling of international feature films and television productions, corporate media and multimedia content, as well as barrier-free localization solutions. As one of the leaders of the German dubbing industry with more than 60 full-time employees, the company has built up an excellent world-wide reputation over its 63 years and has a track record of more than 7,000 localized projects. With a passion for language and sound as well as respect for the creative invention of the original, this well-established company has been devoted to one purpose since its founding in 1949: To feel the original. For more information: www.berliner-synchron.de Contact: Berliner Synchron AG End of Corporate News 24.06.2014 Dissemination of a Corporate News, transmitted by DGAP – a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
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