MME MOVIEMENT AG
MME MOVIEMENT AG: Increase in turnover and decrease in earnings in first six months 2007
MME MOVIEMENT AG / Half Year Results Release of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- Interim half-year figures - Turnover compared to previous year increased by 8.6% to EUR 44.2 million - EBIT margin decreased to 4.6% (previous year: 8.7%) - Earnings per share at EUR 0.11 below the same period last year Domination and profit and loss transfer - Extraordinary general meeting of shareholders to decide on a domination and profit and loss transfer agreement expected for 25 September 2007 - Offer of a cash settlement of EUR 7 per share planned - Calculated appraisal value for annual adjustment payment of EUR 0.51 According to interim half-year figures, earnings in the first half-year 2007 for the MME MOVIEMENT AG remained on the whole below expectations. Although it was possible to increase turnover to approx. EUR 44.2 million (previous year: EUR 40.7 million), earnings before interest and taxes (EBIT) amounting to approx. EUR 2.02 million were nonetheless below the figure for the same period last year (last year: EUR 3.55 million). The EBIT margin has thus dropped to 4.6% (last year: 8.7%). Earnings per share were EUR 0.11 (last year: EUR 0.21). The main reason for the decline in earnings are the continuing additional expenditures for maintaining daily formats without the possibility of passing these additional costs on to customers, as well as the composition of the programme portfolios, with more one-piece programmes and fewer serial formats. The Board of Management expects that the business development of the first six months will remain largely unchanged in the remaining two months up until the end of the short fiscal year on 31 August 2007. The complete half-year financial statement will be published on 31 August 2007. After the corresponding announcement of the measure by the company on 4 May 2007, the Board of Management of MME MOVIEMENT AG and the management of ALL3MEDIA Deutschland GmbH decided on a domination and profit and loss transfer agreement today. The agreement predicts a cash settlement of EUR 7 per share and a gross adjustment payment (before corporate income tax) of EUR 0.51 per share for each financial year to the benefit of external shareholders. The appraiser commissioned for the valuation by the firms concluding the agreement, the KPMG Deutsche Treuhand-Gesellschaft, Aktiengesellschaft Wirtschaftsprüfungsgesellschaft, Munich, calculated an enterprise value of EUR 4.96 per share. The relevant three-month-average share price of MME MOVIEMENT AG (the period before the announcement of the domination and profit and loss transfer agreement on 4 May 2007) was EUR 6.68 per share. The cash settlement of EUR 7 per share set in the domination and profit and loss transfer agreement corresponds to the price offered to the shareholders of MME MOVIEMENT AG in the takeover bid completed in May 2007 by All3Media Deutschland GmbH. The determined cash settlement and the annual adjustment payment remain subject to the soon-to-be-completed audit by the court-appointed auditor Warth & Klein Wirtschaftsprüfungsgesellschaft GmbH, Düsseldorf. The Supervisory Board of the MME MOVIEMENT AG is expected to decide on the domination and profit and loss transfer agreement in its meeting of 15 August 2007; and to propose a corresponding motion to the extraordinary general meeting of shareholders, which is scheduled to be held on 25 September 2007 in Berlin. DGAP 13.08.2007 ---------------------------------------------------------------------- Language: English Issuer: MME MOVIEMENT AG Gotzkowskystraße 20-21 10555 Berlin Deutschland Phone: +49 (0)30 520-076-0 Fax: +49 (0)30 520-076-500 E-mail: ir@mmemoviement.de Internet: www.mmemoviement.de ISIN: DE0005761159 WKN: 576115 Indices: Listed: Geregelter Markt in Frankfurt (General Standard); Freiverkehr in Berlin, Stuttgart, München, Hamburg, Düsseldorf End of News DGAP News-Service ---------------------------------------------------------------------------
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