Annual Report2014 Swiss-Based Highlight Group Comprises Companies with Considerable Synergy Potential
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4 1 0 2 t Communications AG Highlight Annual Repor Annual Report2014 Swiss-based Highlight Group comprises companies with considerable synergy potential. It is one of the biggest media stocks on the German capital market. Highlight Communications AG at a glance (TCHF) 2 014 2013 Consolidated Total assets 361,558 443,329 balance sheet Film assets 160,385 211,044 Cash and cash equivalents 44,773 44,259 Financial liabilities 81,279 151,997 Equity attributable to the shareholders 96,532 96,675 Consolidated Sales 412,578 386,197 income statement Profi t from operations 29,013 18,496 Net profi t (Highlight shareholders) 16,651 9,731 Earnings per share (CHF) 0.37 0.21 Earnings per share (EUR) 0.31 0.17 Consolidated Cash fl ow from operating activities 156,369 117,499 statement of cash flows Cash fl ow for investing activities –76,527 –140,835 thereof payments for fi lm assets –70,584 –136,178 Cash fl ow for fi nancing activities –78,914 –5,563 thereof dividend payments –8,897 –9,424 Cash fl ow from/for the reporting period 928 –28,899 Personnel Headcount as of December 31 825 761 Highlight Communications AG · Netzibodenstr. 23b · CH-4133 Pratteln BL · [email protected] Phone +41 (0)61-816 96 96 · Fax +41 (0)61-816 67 67 · www.highlight-communications.ch 4 1 0 2 t Communications AG Highlight Annual Repor Annual Report2014 Swiss-based Highlight Group comprises companies with considerable synergy potential. It is one of the biggest media stocks on the German capital market. Highlight Communications AG at a glance (TCHF) 2 014 2013 Consolidated Total assets 361,558 443,329 balance sheet Film assets 160,385 211,044 Cash and cash equivalents 44,773 44,259 Financial liabilities 81,279 151,997 Equity attributable to the shareholders 96,532 96,675 Consolidated Sales 412,578 386,197 income statement Profi t from operations 29,013 18,496 Net profi t (Highlight shareholders) 16,651 9,731 Earnings per share (CHF) 0.37 0.21 Earnings per share (EUR) 0.31 0.17 Consolidated Cash fl ow from operating activities 156,369 117,499 statement of cash flows Cash fl ow for investing activities –76,527 –140,835 thereof payments for fi lm assets –70,584 –136,178 Cash fl ow for fi nancing activities –78,914 –5,563 thereof dividend payments –8,897 –9,424 Cash fl ow from/for the reporting period 928 –28,899 Personnel Headcount as of December 31 825 761 Highlight Communications AG · Netzibodenstr. 23b · CH-4133 Pratteln BL · [email protected] Phone +41 (0)61-816 96 96 · Fax +41 (0)61-816 67 67 · www.highlight-communications.ch The Highlight Group’s expertise Top movies and TV formats, best-selling Events2015 covers the planning, production and home entertainment releases, top-level marketing of top events and fi rst-class European football and world-famous entertainment in the areas of fi lm, major musical events make up the sports and music. Highlight portfolio. Highlight Communications AG, Pratteln, Switzerland Markets & Events of the Highlight Group Cinema Cannes Film Festival May 13 – 24 Locarno Film Festival August 5 – 15 Film Sports- & Event-Marketing Other Business Activities Cinema Home Entertainment Football Music Constantin Film AG is The Highlight Group has its Based in Lucerne, the TEAM Highlight Event & Entertain- Venice Film Festival September 2 – 12 100 % 100 % 100 % 68.986 % Ger many’s leading indepen- own distribution organization Group is one of the world’s ment AG operates in the event Toronto Film Festival September 10 – 20 dent producer and exploiter for the best possible exploita- leading agencies in the global and entertainment business Constantin Film AG Highlight Team Holding AG Highlight Event of theatrical movies. “Fack tion of DVD/Blu-ray rights to marketing of major internatio- and owns the marketing Football UEFA Europa League fi nal May 27 rd MUNICH, GERMANY Communications LUCERNE, SWITZERLAND & Entertainment AG Ju Göhte” (3 place), “Fünf theatrical movies. Distribution nal sports events. On behalf mandates for the Eurovision UEFA Champions League fi nal June 6 (Deutschland) GmbH LUCERNE, SWITZERLAND Freunde 3” (5th place) and in Switzerland and Austria is of the Union of European Song Contest and the Vienna th Subsidiaries of MUNICH, GERMANY T.E.A.M. Television “Männerhort” (6 place) performed by the Rainbow Football Associations, it Philharmonic Orchestra. As Events Vienna Philharmonic’s Summer Night Concert May 14 Constantin Film AG Event And Media Highlight Event AG were three of the six most- Home Entertainment subsidia- exclusively markets the part of this cooperation, it Rainbow Home Marketing AG LUCERNE, SWITZERLAND watched German productions ries. Highlight Communica- “UEFA Champions League”, markets the internationally Eurovision Song Contest, semifi nals May 19 and 21 Constantin Film Entertainment AG LUCERNE, SWITZERLAND of 2014 that belonged to tions (Deutschland) GmbH the “UEFA Europa League” known “New Year’s Day Eurovision Song Contest, fi nal May 23 Schweiz AG PRATTELN, SWITZERLAND Constantin Film. cooperates with Paramount and the “UEFA Super Cup”. Concert” and the orchestra’s WTA Finals October 26 – November 1 BASEL, SWITZERLAND Team Football Home Entertainment to cover “Summer Night Concert”. the German market. Rainbow Home Marketing AG Investor Interim reports May/August/November LUCERNE, SWITZERLAND Entertainment GmbH Television Relations VIENNA, AUSTRIA Some of Constantin Film’s The bestsellers of 2014 were Annual General Meeting June 12 subsidiaries produce very the Constantin Film titles German Equity Forum November 23 – 25 successful TV formats on “Fack Ju Göhte”, “The Mortal Members of the Highlight Group behalf of major TV stations Instruments: City of Bones” at home and abroad: daily and “Pompeii”. shows, primetime shows, crime series and TV movies/ miniseries. The Highlight Group’s expertise Top movies and TV formats, best-selling Events2015 covers the planning, production and home entertainment releases, top-level marketing of top events and fi rst-class European football and world-famous entertainment in the areas of fi lm, major musical events make up the sports and music. Highlight portfolio. Highlight Communications AG, Pratteln, Switzerland Markets & Events of the Highlight Group Cinema Cannes Film Festival May 13 – 24 Locarno Film Festival August 5 – 15 Film Sports- & Event-Marketing Other Business Activities Cinema Home Entertainment Football Music Constantin Film AG is The Highlight Group has its Based in Lucerne, the TEAM Highlight Event & Entertain- Venice Film Festival September 2 – 12 100 % 100 % 100 % 68.986 % Ger many’s leading indepen- own distribution organization Group is one of the world’s ment AG operates in the event Toronto Film Festival September 10 – 20 dent producer and exploiter for the best possible exploita- leading agencies in the global and entertainment business Constantin Film AG Highlight Team Holding AG Highlight Event of theatrical movies. “Fack tion of DVD/Blu-ray rights to marketing of major internatio- and owns the marketing Football UEFA Europa League fi nal May 27 rd MUNICH, GERMANY Communications LUCERNE, SWITZERLAND & Entertainment AG Ju Göhte” (3 place), “Fünf theatrical movies. Distribution nal sports events. On behalf mandates for the Eurovision UEFA Champions League fi nal June 6 (Deutschland) GmbH LUCERNE, SWITZERLAND Freunde 3” (5th place) and in Switzerland and Austria is of the Union of European Song Contest and the Vienna th Subsidiaries of MUNICH, GERMANY T.E.A.M. Television “Männerhort” (6 place) performed by the Rainbow Football Associations, it Philharmonic Orchestra. As Events Vienna Philharmonic’s Summer Night Concert May 14 Constantin Film AG Event And Media Highlight Event AG were three of the six most- Home Entertainment subsidia- exclusively markets the part of this cooperation, it Rainbow Home Marketing AG LUCERNE, SWITZERLAND watched German productions ries. Highlight Communica- “UEFA Champions League”, markets the internationally Eurovision Song Contest, semifi nals May 19 and 21 Constantin Film Entertainment AG LUCERNE, SWITZERLAND of 2014 that belonged to tions (Deutschland) GmbH the “UEFA Europa League” known “New Year’s Day Eurovision Song Contest, fi nal May 23 Schweiz AG PRATTELN, SWITZERLAND Constantin Film. cooperates with Paramount and the “UEFA Super Cup”. Concert” and the orchestra’s WTA Finals October 26 – November 1 BASEL, SWITZERLAND Team Football Home Entertainment to cover “Summer Night Concert”. the German market. Rainbow Home Marketing AG Investor Interim reports May/August/November LUCERNE, SWITZERLAND Entertainment GmbH Television Relations VIENNA, AUSTRIA Some of Constantin Film’s The bestsellers of 2014 were Annual General Meeting June 12 subsidiaries produce very the Constantin Film titles German Equity Forum November 23 – 25 successful TV formats on “Fack Ju Göhte”, “The Mortal Members of the Highlight Group behalf of major TV stations Instruments: City of Bones” at home and abroad: daily and “Pompeii”. shows, primetime shows, crime series and TV movies/ miniseries. Contents Foreword by the Chairman 2 Members of the Board of Directors 8 Corporate governance 10 Remuneration report 21 Report of the statutory auditor 31 Highlight stock 32 Report on the Highlight Group’s situation 38 Basic information on the Group 40 Economic report 44 Report on business performance and the situation in the Film segment 46 Report on business performance and the situation in the Sports- and Event-Marketing segment 56 Report on business performance and the situation in the Other Business Activities segment 60 Results of operations, net assets and financial situation of