Constantin Medien AG : Constantin Medien with solid business performance in first quarter 2012

• Group sales increased by 4.7 percent to EUR 108.3 million
• EBIT at EUR 3.2 million; earnings attributable to shareholders improved to
• EUR -0.2  million
• Full-year guidance 2012 unaltered

The Constantin Medien Group delivered a solid business performance, in line with own expectations, for the first three-month period of 2012. Management Board confirms its previous guidance projected for the full-year 2012.

• Group sales reached EUR 108.3 million for the period from January to March 2012 or 4.7 percent above the value of the same period last year (EUR 103.4 million). Sales increased in all segments.
  
  
• The profit from operations (EBIT) amounted to EUR 3.2 million after the first three months of 2012 or EUR 2.6 million less than in the first quarter of 2011 (EUR 5.8 million). This was largely due to an earnings decline reported by the Film Segment.
  
  
• The EBIT contains scheduled amortization of the purchase price allocation of Constantin Medien AG's 47.3 percent shareholding in the Swiss Highlight Communications AG (PPA-amortization) amounting to EUR 5.1 million (Q1 2011: EUR 5.2 million).
  
  
• For the first quarter of 2012, the Group reports a positive net profit (earnings after taxes) of EUR 0.8 million after EUR 1.2 million in the same period last year.
  
  The earnings attributable to shareholders included therein improved from EUR -0.8 million to EUR -0.2 million.

Performance of the Segments after the first three months of 2012

• The Sports Segment, comprising the multimedia umbrella brand SPORT1 and the production company PLAZAMEDIA, increased sales slightly by 1.7 percent to EUR 36.6 million (Q1 2011: EUR 36.0 million). Rising advertising revenues at SPORT1 offset the decline in the so-called diversification revenues. Segment earnings improved to EUR 1.4 million (Q1 2011: EUR 0.9 million) mainly due to lower production costs.
  
  
• The Film Segment achieved first quarter sales of EUR 53.3 million and thus an increase of 7.9 percent against the same quarter last year (EUR 49.4 million); this was mainly caused by higher sales generated by theatrical distribution. Segment earnings of EUR 0.6 million were behind the prior year's figure of EUR 3.2 million, which related to higher release costs and higher amortization on film assets. Adjusted for PPA-amortization of EUR 0.1 million (Q1 2011: EUR 0.4 million), the segment earnings amount to EUR 0.7 million (Q1 2011: EUR 3.6 million).
  
  
• The Sports- and Event-Marketing Segment's sales of EUR 18.0 million matched the first quarter of 2011. Segment earnings climbed to EUR 3.1 million versus EUR 2.9 million in the same quarter last year. Adjusted for PPA-amortization totaling EUR 5.0 million (Q1 2011: EUR 4.8 million), the segment earnings improved from EUR 7.7 million to EUR 8.1 million.
  
  
• The Other Business Activities Segment, which was newly formed as of July 1, 2011, and which is currently in realignment, reported first quarter sales of EUR 0.4 million and earnings of EUR -0.5 million.
  
  
• The earnings of the Others divison, which primarily contains the activities of Constantin Medien AG as the holding company, amounted to EUR -1.4 million (Q1 2011: EUR -1.1 million).

Outlook of the entire financial year 2012
From today's perspective, the Management Board confirms its previous guidance projected for the financial year 2012. It expects Group sales within a target corridor of EUR 460 million to EUR 480 million with balanced Group earnings attributable to shareholders, and thus a further improvement in the earnings position.

Bernhard Burgener, Chairman of the Management Board of Constantin Medien AG: "Constantin Medien had a solid start into the year 2012. It is especially pleasing that with the acquisition of rights packages to the Soccer Bundesliga and 2nd Bundesliga as well as the extension of the comprehensive production framework contract between PLAZAMEDIA and the Sky group until 2017, thus far this year, two very important business transactions have been closed. These represent key components for the successful development of our Sports Segment in the coming years and therefore of the Constantin Medien Group as a whole.

Contact:

Constantin Medien AG Sabine Lais Director Communication Tel.: +49 (0) 89 99 500-461 Fax: +49 (0) 89 99 500-466 sabine.lais@constantin-medien.de

Frank Elsner Kommunikation für Unternehmen GmbH Frank Elsner Tel.: +49 (0) 54 04 91 92 0 Fax: +49 (0) 54 04 91 92 29 info@elsner-kommunikation.de

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