Alfacam Group
Euronext Brussels: ALFA
PRESS RELEASE (regulated information) Lint, 5 March, 2012
Alfacam Group - Preview on annual results of 2011
In anticipation of the publication of the annual results for
2011 on 26 March, Alfacam Group states that the turnover of
the second half of the year 2011 will reach 19.2 million
euro. EBITDA for the second half of the year remains below
expectations just above 4.7 million euro. On an annual basis,
this will mean 6.0 million euro with a net loss close to
(13.8) million euro. The startup costs of the international
expansion have had a stronger impact than initially planned
in Brazil, the Middle East and India. It is from these
countries that the Group faces difficulties to receive timely
payments, which led to consultation with the banks about a
moratorium on leasing and other debt repayments.
Despite the better results in the second half of 2011, the
financial covenants linked to the lending by its main banks
were not respected.
The banks have granted a temporary deferment of payment to
Alfacam Group. This waiver is granted for a period of 3
months, ending on 30 March 2012. There is further
consultation in a constructive atmosphere to extend this
period until 30 June 2012, if necessary.
At the request of the Board of Directors, NIBC Bank is
actively working on a strengthening of the share capital base
with various interested parties.
2012 will be a busy year for Alfacam. There are already
several major projects in Alfacam's order book. These include
music, sports and political-cultural productions such as
Euro2012 in Ukraine - Poland, the Eurovision Song Contest in
Azerbaijan and the Summer Games in London.
The Executive Management Committee confirms the goal of
getting back on track in 2012 with a positive net result.
For more information - please contact:
Steven DUJARDIN, Press and Communication Officer,
steven.dujardin@alfacam.com
Tel +32 3 460 39 30, cell +32 478 34 87 38
Sven MARINUS, CEO Alfacam Group, sven.marinus@alfacam.com
Tel +32 3 460 39 30
About ALFACAM GROUP
Alfacam Group [EURONEXT Brussels: ALFA] groups de activities from Alfacam nv, EuroLinX wireless services, EURO1080 and the EUROCAM MEDIA & FILM CENTER
Alfacam primarily delivers services to TV stations and production houses and with 22 HD production vans the company comprises the largest HD OB fleet in Europe. Alfacam undertakes more than 3000 assignments each year, including all Games since 2002 (with 19 OB vans in Beijing 2008 and in Vancouver 2010), the European Championships Football and the Football World Cup (for instance South Africa 2010), the Europe Music Awards and the FIFA Confederation Cup Football. More than 95% make use of HDTV technology. Alfacam also undertakes 3D recordings across a range of content from concerts to sports (for instance ROLAND GARROS tennis, box, cricket, football/soccer).
Alfacam Group press release: Alfacam Group Preview Annual Results 2011 1/1