Si daniè, devo dire che stamattina guetta mi ha sorpreso, mi sembrava una vera trader
Comunque si ne ho preso un cip per diversificare, giusto la cedola annuale mi rompe, semestrale sarebbe stata meglio
Obbligazioni societarie HIGH YIELD e oltre, verso frontiere inesplorate - Vol. 1
- Creatore Discussione TRADING_IDEAS
- Data di Inizio
- Stato
Comunque si ne ho preso un cip per diversificare, giusto la cedola annuale mi rompe, semestrale sarebbe stata meglio
qquebec
Super Moderator
Confermo che con Iw bank si prende. Avevo chiesto anche io la scorsa settimana, poi ho lasciato perdere
fabriziof
Forumer storico
Archive
Ismaning, March 24, 2011
Constantin Medien's business performance in 2010 slightly above expectations
Constantin Medien AG published today its consolidated financial statements for the financial year 2010. The sales and earnings targets have been slightly surpassed.
Group performance 2010
At 470.3 million Euro, Group sales were slightly above the target range of 440 million Euro to 460 million Euro. Compared to the prior year's figure of 511.1 million Euro, the decline of 8.0 percent is due to the weaker sales performance delivered by the Sports Segment and the Film Segment.
Group earnings before interest and taxes (EBIT) reached 6.2 million Euro. This translates into growth of 4.8 million Euro against the previous year (1.4 million Euro). EBIT includes depreciation and impairments of 21.4 million Euro (2009: 49.7 million Euro) arising from the purchase price allocation of Constantin Medien AG's shareholding in the Swiss subsidiary Highlight Communications AG (PPA-amortization).
The Group reports earnings before taxes of 3.4 million Euro (2009: -0.3 million Euro). The Group earnings attributable to shareholders amounted to -11.4 million Euro (2009: 8.7 million Euro), which was slightly better than the projected target corridor of -12 million Euro to -14 million Euro. It is hereby noted that the prior year's earnings were significantly impacted by the one-off proceeds from the settlements reached with two D&O insurers regarding the directors' liability suits.
At 94.0 million Euro, the Group's net debt as of December 31, 2010 was 58.3 million Euro lower than the previous year’s closing date, which is primarily due to substantially higher cash and cash equivalents. As of December 31, 2010, the Group reports equity of 71.0 million Euro. The decrease over the prior year's figure (109.8 million Euro) is largely due to the acquisition of the remaining 20 percent in the marketing agency TEAM by Highlight Communications AG in 2010. The equity ratio accordingly dropped to 11.4 percent (December 31, 2009: 17.0 percent).
Performance of the Group Segments in 2010
In the Sports Segment earnings improved by 14.5 million Euro up to -0.3 million Euro despite ongoing fierce competition on the TV advertising market, thus performing in line with expectations. Sales decreased by 7.2 percent to 156.1 million Euro. The substantial earnings improvement is mainly attributable to the restructuring of the sports activities that were initiated in 2009 and completed in the third quarter of 2010. The core element was the implementation of the new multimedia umbrella brand SPORT1 for all television, online and mobile sports activities. At the same time, the programming line-up of the free-TV station SPORT1 was strengthened by means of enormous investments in new rights and in live broadcasting. The realignment in the sports sector also includes the building-up of new digital offers such as the pay-TV channel SPORT1+ that was launched in 2010.
The Film Segment delivered a weaker business performance in 2010 versus prior year, but in line with our expectations. The main reasons for this include the lower production volume in TV service productions due to persistent restrictive expenditure policies by the
TV stations and lower revenues in the areas of theatrical distribution and license trading. Segment sales stood at 241.2 million Euro, 14.2 percent below the previous year (281.1 million Euro). Segment earnings amounted to 5.0 million Euro compared to the prior year's figure of -20.8 million Euro, which was impacted by impairments. The earnings contain PPA-amortization of 2.9 million Euro (2009: 7.1 million Euro).
The Sports- and Event-Marketing Segment recorded a successful year in 2010. Sales increased by 18.1 percent from 61.8 million Euro to 73.0 million Euro, primarily due to higher revenues from the marketing of the UEFA Champions League and the UEFA Europa League by the Highlight Communications subsidiary TEAM. Segment earnings totaled 7.2 million Euro (2009: 2.2 million Euro). The earnings include PPA-amortization of 17.7 million Euro following 16.2 million Euro in the previous year.
Outlook for the year 2011
In the Sports Segment, the Management Board assumes sales at the level of 2010 for the current year, with slightly positive earnings. In the Film Segment, it predicts a slight sales increase, with earnings remaining about the same level. In the Sports- and Event-Marketing Segment, a constant sales and earnings performance at a high level is anticipated.
On this basis and taking into account the holding costs and financing costs of the Group, the Management Board is predicting consolidated sales of 470 million Euro to 490 million Euro, with Group earnings attributable to shareholders of -6 million Euro to -7 million Euro for 2011.
Bernhard Burgener, Chairman of the Management Board of Constantin Medien AG: "2010 was a challenging year for Constantin Medien. All the more we are pleased that our prognoses proved to be reliable. We are confident that the current year, we will take another step forward in reaching our long-term target of generating stable positive earnings."
Ismaning, March 24, 2011
Constantin Medien's business performance in 2010 slightly above expectations
- Group sales at 470.3 million Euro above target corridor
- EBIT rises from 1.4 million Euro to 6.2 million Euro
- Group earnings attributable to shareholders at -11.4 million Euro
- Earnings improvement expected for 2011
Constantin Medien AG published today its consolidated financial statements for the financial year 2010. The sales and earnings targets have been slightly surpassed.
Group performance 2010
At 470.3 million Euro, Group sales were slightly above the target range of 440 million Euro to 460 million Euro. Compared to the prior year's figure of 511.1 million Euro, the decline of 8.0 percent is due to the weaker sales performance delivered by the Sports Segment and the Film Segment.
Group earnings before interest and taxes (EBIT) reached 6.2 million Euro. This translates into growth of 4.8 million Euro against the previous year (1.4 million Euro). EBIT includes depreciation and impairments of 21.4 million Euro (2009: 49.7 million Euro) arising from the purchase price allocation of Constantin Medien AG's shareholding in the Swiss subsidiary Highlight Communications AG (PPA-amortization).
The Group reports earnings before taxes of 3.4 million Euro (2009: -0.3 million Euro). The Group earnings attributable to shareholders amounted to -11.4 million Euro (2009: 8.7 million Euro), which was slightly better than the projected target corridor of -12 million Euro to -14 million Euro. It is hereby noted that the prior year's earnings were significantly impacted by the one-off proceeds from the settlements reached with two D&O insurers regarding the directors' liability suits.
At 94.0 million Euro, the Group's net debt as of December 31, 2010 was 58.3 million Euro lower than the previous year’s closing date, which is primarily due to substantially higher cash and cash equivalents. As of December 31, 2010, the Group reports equity of 71.0 million Euro. The decrease over the prior year's figure (109.8 million Euro) is largely due to the acquisition of the remaining 20 percent in the marketing agency TEAM by Highlight Communications AG in 2010. The equity ratio accordingly dropped to 11.4 percent (December 31, 2009: 17.0 percent).
Performance of the Group Segments in 2010
In the Sports Segment earnings improved by 14.5 million Euro up to -0.3 million Euro despite ongoing fierce competition on the TV advertising market, thus performing in line with expectations. Sales decreased by 7.2 percent to 156.1 million Euro. The substantial earnings improvement is mainly attributable to the restructuring of the sports activities that were initiated in 2009 and completed in the third quarter of 2010. The core element was the implementation of the new multimedia umbrella brand SPORT1 for all television, online and mobile sports activities. At the same time, the programming line-up of the free-TV station SPORT1 was strengthened by means of enormous investments in new rights and in live broadcasting. The realignment in the sports sector also includes the building-up of new digital offers such as the pay-TV channel SPORT1+ that was launched in 2010.
The Film Segment delivered a weaker business performance in 2010 versus prior year, but in line with our expectations. The main reasons for this include the lower production volume in TV service productions due to persistent restrictive expenditure policies by the
TV stations and lower revenues in the areas of theatrical distribution and license trading. Segment sales stood at 241.2 million Euro, 14.2 percent below the previous year (281.1 million Euro). Segment earnings amounted to 5.0 million Euro compared to the prior year's figure of -20.8 million Euro, which was impacted by impairments. The earnings contain PPA-amortization of 2.9 million Euro (2009: 7.1 million Euro).
The Sports- and Event-Marketing Segment recorded a successful year in 2010. Sales increased by 18.1 percent from 61.8 million Euro to 73.0 million Euro, primarily due to higher revenues from the marketing of the UEFA Champions League and the UEFA Europa League by the Highlight Communications subsidiary TEAM. Segment earnings totaled 7.2 million Euro (2009: 2.2 million Euro). The earnings include PPA-amortization of 17.7 million Euro following 16.2 million Euro in the previous year.
Outlook for the year 2011
In the Sports Segment, the Management Board assumes sales at the level of 2010 for the current year, with slightly positive earnings. In the Film Segment, it predicts a slight sales increase, with earnings remaining about the same level. In the Sports- and Event-Marketing Segment, a constant sales and earnings performance at a high level is anticipated.
On this basis and taking into account the holding costs and financing costs of the Group, the Management Board is predicting consolidated sales of 470 million Euro to 490 million Euro, with Group earnings attributable to shareholders of -6 million Euro to -7 million Euro for 2011.
Bernhard Burgener, Chairman of the Management Board of Constantin Medien AG: "2010 was a challenging year for Constantin Medien. All the more we are pleased that our prognoses proved to be reliable. We are confident that the current year, we will take another step forward in reaching our long-term target of generating stable positive earnings."
bosmeld
Forumer storico
IKB 85,76/86,55
DUBAI 85,62/88,62
ATU 84,00/84,50
NOVASEP 62,50/64,00
EIRCOM 2016 36,00/38,00
CEDC 92,00/93,00
PETROL 72,00/76,00
una cortesia, per una new entry del puro hy
, chiedete anche le quotazioni di refer XS0214446188 thanks
fabriziof
Forumer storico
Su questo bond, ma anche come su altri tf cedola alta, entro per cassettare, diciamo che formano quella parte del ptf che mi danno una rendita aggiuntiva mensile oltre lo stipendio, quindi se la callano poco male, calcolando che non l'ho presa nemmeno sopra la pari mi potrebbe star anche bene, ma dubito che nel 2013 e a maggior ragione nel 2014 la callino per dover poi riemettere un nuovo bond a tassi più alti, perchè in quei periodi i tassi saranno molto più alti di ora, anzi di ottobre del 2010.Anleihe kündbar zum 13.10.2013 und 13.10.2014 jeweils zu 100%
fabriziof
Forumer storico
comunque è un freno all'upside
- Stato
Similar threads
Obbligazioni societarie
HIGH YIELD e oltre, verso frontiere inesplorate, vol.3
