TORONTO, May 25 /CNW/ - Entertainment One Ltd. ('Entertainment One' or 'the Group'), a leading international entertainment content owner and distributor, announces its preliminary results for the year ended 31 March 2010.
- Revenue of US$709.8 million up 30% (2009: US$547.5 million)
- Underlying EBITDA(1) up 36% at US$54.8 million (2009:
- Reported profit before tax of US$11.0 million (2009: loss of
- Diluted earnings per share of 6.9 cents (2009: loss of 37.1 cents)
- Adjusted diluted earnings per share(3) of 18.4 cents (2009:
13.7 cents) up 34%
- Operating cash flow of US$136.1 million (2009: US$57.4 million) up
- Adjusted net debt(4) down US$27.3 million to US$101.0 million (2009:
- 123 films released theatrically in the year including the record
breaking box office performance of The Twilight Saga: New Moon
- Established as the number one or number two independent film
distributor in all core markets
- 213 half hours of original television programming delivered in the
year including the new network shows Rookie Blue and The Bridge
- Expansion of international reach with Australia, New Zealand and
France added to global network
- Move to the Main Market of the London Stock Exchange expected to
complete in July 2010
Darren Throop, Chief Executive Officer, commented:
"We are extremely pleased with the strong performance of the Group this year and the progress being made positioning the business as one of the world's leading independent entertainment companies. Growth is anticipated to continue in the current financial year underpinned by a strong slate of film releases and television productions. We are optimistic that the move to the Main Market of the London Stock Exchange will enable the Group to further enhance shareholder value."
(1) Underlying EBITDA is earnings before operating one-off items,
share-based payment charges, interest, tax, depreciation and
amortisation of intangible assets. Underlying EBITDA is reconciled to
Operating Profit in the 'Other Financial Information' section of this
(2) An exchange rate of (pnds stlg)1: US$1.598 was used, being the
average rate for the year.
(3) Adjusted diluted earnings per share are adjusted for operating
one-off items, share-based payments, amortisation of acquired
intangible assets and one-off items within net finance costs.
(4) Adjusted net debt includes net borrowings under the Group's senior
debt facility and exchangeable notes.
This extract from the Preliminary Announcement contains certain forward-looking statements with respect to the financial condition, results, operations and businesses of Entertainment One Ltd. These statements and forecasts involve risk and uncertainty because they relate to events and depend upon circumstances that will occur in the future. There are a number of factors that could cause actual results or developments to differ materially from those expressed or implied by these forward-looking statements and forecasts. Nothing in this extract should be construed as a profit forecast.
A copy of the full Preliminary Announcement for the year ended 31 March 2010 can be found on our website at www.entertainmentonegroup.com. Copies of the Annual Report for the year ended 31 March 2010 will be available to shareholders shortly.
About Entertainment One Ltd.
Entertainment One (AIM: ETO) is a leading independent entertainment content enterprise that acquires and exploits world-class content around the globe. Its two primary businesses units (Entertainment and Distribution) operate in Canada, the U.S., the UK, Ireland, France, Australia, New Zealand, the Netherlands and Belgium, providing extensive expertise in film distribution, television and music production and distribution, kids programming, and merchandising and licensing. The Group's current rights library is distributed across all media formats and includes more than 20,000 film and television titles, 2,400 hours of original television programming and 45,000 music tracks.
SOURCE ENTERTAINMENT ONE LTD.
For further information: For further information: Scott MacFadyen, Entertainment One, Tel: (416) 903-6581, Email: email@example.com; Tom Sargent, Edelman Public Relations, (416) 979-1120 ext 250, Email: thomas.sargent@Edelman.com