PRESS RELEASES & AD-HOC
Half-year figures: Sales up and earnings significantly above previous year
Hamburg, 05 May 2021
- Group sales increased by 11% to 123.3 million euros compared to the previous year
- EBITDA increased by 57% to 16.0 million euros
- EBIT and net income for the half-year increased by 104% and 53% to 11.3 million euros and 4.6 million euros respectively
- Net income after minority interests increased by 62% to 4.2 million euros
The Hamburg-based media group Edel SE & Co. KGaA (WKN 564950) generated sales of 123.3 million euros in the first half of 2020/21 (October 1, 2020 – March 31, 2021), an increase of 11% compared to the same half of the previous year (111.4 million euros). Net income for the half-year rose to 4.6 million euros from 3.0 million euros (+53%) and, after deducting minority interests, to 4.2 million euros from 2.6 million euros (+62%).
The results of the interim consolidated financial statements for the first half of the financial year in detail:
EBITDA in the first half of 2020/21 was significantly up on the previous year at €16.0 million (first half of previous year: €10.2 million), while EBIT rose to €11.3 million (first half of previous year: €5.6 million). Consolidated net income (before minority interest) amounted to 4.6 million euros in the first half of 2020/21, compared with 3.0 million euros in the first half of the previous year. Consolidated net income after minority interest was 4.2 million euros (prior-year period: 2.6 million euros). Half-year earnings per share amounted to 0.19 euros, compared with 0.12 euros in the first half of 2019/20. The equity ratio increased to 21.8%. Cash flow from operating activities amounted to 9.3 million euros (prior-year half-year: 4.0 million euros). Cash flow from investing activities increased from -2.7 million euros to -4.0 million euros. Due to the repayment of liabilities, cash flow from financing activities amounted to -3.8 million euros (first half of previous year: -5.3 million euros).
In the first half of the year, revenues increased in almost all business units. Once again, digital revenues from content via platforms such as Spotify, Amazon and Apple grew both in the distribution business and in the content divisions, such as Edel Kids, earMUSIC and Brilliant Classic. optimal media also increased revenues and returns significantly in the first half, driven by vinyl production. The Edel publishing group also continued to develop very positively in the first half of the year. As communicated in the past, tax expenses include provisions for risks arising from the ongoing tax office audit.
Dr. Jonas Haentjes, CEO: “The first half of 2020/21 was characterized for us both by the growth of the global music markets and by the effects of the Covid 19 pandemic. The shift in the music market from CD to streaming and vinyl records was massively accelerated by Corona in the past half year. While work in our content areas continues to be dominated by the home office, it is a major challenge to increase sales in manufacturing operations with compulsory attendance in the pandemic. I would like to extend my sincere thanks to all employees for their efforts and discipline!”