CINEMEDIA AG
Berliner Synchron AG: Board raises forecast for 2014 in light of positive company performance and the planned spin-off of Berliner Synchron AG.
Berliner Synchron AG / Key word(s): Change in Forecast/AGM/EGM Berlin, 22 August 2014 – Today, the shareholders of Berliner Synchron AG decide on a very extensive agenda. In addition to the standard items, there is the election of Manfred Teubner, long-time head of entertainment at German TV company ZDF, to the Supervisory Board of Berliner Synchron. Furthermore, a spin-off in the form of a 100%-owned subsidiary for the company’s entire business, i.e. all assets and liabilities, will be proposed to the shareholders. A control and profit transfer agreement is also to be adopted, which will ensure future access to the operating business. As explained by the Board, there are many individual measures which because of their scale have not yet been finalized and it is still too early for decisions to be made. Important points include an expected complete release of deferred tax assets to the next annual financial statement, and a final and long-term clarification of the treatment of the loans by the major shareholder. With that, Berliner Synchron AG would remedy the final significant risks to its balance sheet by 31 December 2014. How much these hidden reserves amount to also cannot yet be determined, but the amount is possibly in the mid single-digit million range. Inasmuch as the exact effects cannot be calculated yet, it is clear that the balance sheet will further improve in terms of growing profitability. In addition, as strictly a holding company, Berliner Synchron AG would gain considerable flexibility. Regarding company performance in the current, second half of the year, the Board expects the positive trend to continue. In the first half of the year, with an overall performance of EUR 4,426,000 (previous year EUR 4,132,000), Berliner Synchron AG generated a result of EUR 156,000 (previous year:. EUR 61,000) from normal business activities. The surplus amounted to EUR 145,000 (previous year: EUR 56,000), earnings per share were EUR 0.09. As a result of these figures, the Board expects a turnover of over EUR 8,000,000 and an annual surplus of EUR 250,000, or earnings per share of around EUR 0.15.
10 November 2014: Report on business performance in the third quarter of 2014 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 22.08.2014 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP 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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