latest news releases from the newsroom
MTG: Management Change at Strix Television
STOCKHOLM, Sweden, April 5, 2005 (PRIMEZONE) -- Modern Times Group MTG AB, the international entertainment-broadcasting group, today announced that Anna Carrfors Brakenhielm will step down from her role as Managing Director of Strix Television and join the Board of Directors of the Company as Chairman with effect from 1 July 2005. Robert Aschberg, one of the founders of Strix and currently a working member of the Board, will take over as the acting Managing Director of the business until a replacement for Anna is appointed.
MTG Increases Shareholding in BET24 Holding Company to 51%
STOCKHOLM, Sweden, April 5, 2005 (PRIMEZONE) -- Modern Times Group MTG AB, the international entertainment-broadcasting group, today announced that it has increased its shareholding in the company that operates the BET24 online betting and gaming businesses to 51%, for an undisclosed consideration. MTG will therefore consolidate the results of Nordic Betting Limited as an operating subsidiary with effect from the second quarter of 2005. MTG previously owned a 19.9% equity stake in the Company, and retains further options to increase its ownership in Nordic Betting Limited in the future. The Company's founders and management own the remaining 49% of the equity.
Komax Holding AG
The Komax Group in Fiscal 2004: Net Profit Margin Improved -- EBITDA Margin at 17%
SWEDEN, Switzerland, April 5, 2005 (PRIMEZONE) -- The Komax Group generated sales of CHF 211.5 million in fiscal 2004. The operating cash flow margin (EBITDA margin) stood at 17%, while Group profit came in at CHF 20.4 million on a slightly improved margin. Thanks to a strong order intake in the assembly automation business, Komax is optimistic for 2005.The Komax Group achieved another good result in fiscal 2004. Despite a decline in sales revenue to CHF 211.5 million (2003: CHF 222.2 million), group profit after tax (EAT) was maintained at CHF 20.4 million, close to its prior-year level (2003: CHF 20.8 million). Furthermore, the Group even increased its net profit margin (after-tax profit as a percentage of net sales) to 9.6% (2003: 9.4%). The strategic EBITDA margin was once again on target in 2004 at 17%. In addition, the gross profit margin increased to 61.6% in the year under review (2003: 61.1%).
Angel Capital Association Names Robert Goff as Recipient of Hans Severiens Award
INCLINE VILLAGE, Nev. and SAN FRANCISCO, April 4, 2005 (PRIMEZONE) -- The Angel Capital Association (ACA) has named Robert E. Goff, founder and president of the Sierra Angels, one of the leading angel investing groups in the United States, as the recipient of the inaugural Hans Severiens Award. The Award recognizes individual accomplishments in the advancement of angel investing. Mr. Goff was selected from among thirteen finalists.