Press release regarding TMG’s AGM 28-04-12
During the Annual General Meeting of Shareholders of TMG today, the chairman of the Supervisory Board thanked former CEO drs. A.J. Swartjes for his contributions to the Company. Swartjes retired from TMG after 33 years as he reached the age of 62.
2010 Reporting Year
As previously announced, the recurring EBITA result in 2010 increased by € 15 million in comparison to 2009. The corresponding EBITA margin rose considerably to 10.9%. The improvement in the result is primarily due to the implementation of the measures agreed upon in 2010 and previous years. Revenues declined by € 20 million.
The net result of almost € 81 million includes an impairment reversal of the interest in ProSiebenSat.1 Media AG in the amount of almost € 44 million and a share in the result of almost € 19 million.
The financial statements were adopted during the meeting and discharge was granted to the members of the Executive Board and the Supervisory Board. The proposed dividend in the amount of € 0.45 per depositary receipt for shares was approved by the shareholders. The dividend becomes payable on 5 May 2011.
Ms M. Tiemstra and Messrs J.G. Drechsel and A.J. van Puijenbroek were reappointed as members of the Supervisory Board of TMG.
Deloitte Accountants B.V. was appointed as the Company’s auditor for the 2011 financial year.
First Quarter 2011
The final results for the first quarter of 2011 will be published on 13 May 2011. The preliminary figures show that the revenues declined by € 3.6 million to € 136.9 million in comparison to the same period in 2010. The recurring EBITA result declined by € 1.3 million to € 9.4 million and the corresponding recurring EBITA margin declined from 7.6% to 6.9%.
If the pressure on advertising revenues in the first quarter of 2011 persists for the remainder of the year, a limited decline in margin in comparison to 2010 must be taken into account for 2011.