DGAP-Adhoc: 313music JWP AG: Significant increase in sales due to first-time consolidation of Manfred Hertlein Veranstaltungs GmbH

313music JWP AG / Half Year Results

26.08.2009 

Release of a Adhoc News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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313music JWP AG: Significant increase in sales due to first-time
consolidation of Manfred Hertlein Veranstaltungs GmbH
Profit generated in the first six months of 2009
Increased result expected in 2009 

Munich, 24 August 2009 - In the first six months of 2009, 313music JWP AG
generated group sales in its continued operations in the amount of kEuro
8,995 (first six months of 2008: kEuro 1,989). This was predominantly due
to the first-time consolidation of Manfred Hertlein Veranstaltungs (MHV)
GmbH, which increased its turnover by approx. 15 % to kEuro 7,317 in the
period under review. MHV, which specializes in event management, was
retroactively included in the consolidated financial statements as per 1
January 2009 after 313music JWP AG exercised its option to increase its
shares in the company from 45 % to 51 % in May 2009 by way of a notarial
agreement. The first-quarter 2009 financial statements were adjusted
accordingly. As regards the determination of the purchase price, the
contractually agreed measures were initiated today.

In the first six months of 2009, the reorganised 313music JWP AG achieved a
substantial consolidation of its business base. In addition to the event
management segment, the artist management segment which is covered by the
313 Music GmbH subsidiary, also reported a positive trend: sales in this
segment rose to kEuro 733 in the period under review (first six months of
2008: kEuro 446). In contrast, the business volume in the label segment
declined from kEuro 1,449 to kEuro 910. This was due to the licensing of
the 313music JWP AG catalogue to Sony Music, which was agreed in October
2008 until the end of 2011 and for which payment had already been received.

The reorganisation of 313music JWP AG also had a positive effect on the
company's result: group earnings before interest and taxes (EBIT) in
continued operations rose to kEuro + 279 in the first six months of 2009,
following a figure of kEuro - 1.578 in the comparable previous year's
period. The profit after taxes amounted to kEuro 384 (first half-year of
2008: loss of kEuro 1,536). This substantial increase in earnings is due to
the positive contribution made by MHV and, in particular, to a cut in
distribution costs as well as general and administrative costs by kEuro
1,102.

313music JWP AG further stabilised both its net asset and its financial
position in the first six months of 2009. The cash flow according to
DVFA/SG increased at the group level to kEuro 472 (first six months of
2008: kEuro -1,144). The equity ratio increased to 51.0 % as of the
reference date (31 December 2008: 46.4 %).

For the remainder of the year, 313music JWP AG will continue to steer the
same course and will expand the artist and event management segments with
the aim of becoming less dependent on record sales. In addition, the
company will focus on the fast-growing online sales area, thereby taking
account of the changes taking place in the sector. Via selective additions
to the catalogue and the specific acquisition of rights to artists and
their productions in the German-speaking region, 313music JWP AG will
further strengthen its substance. Owing to its optimised cost structure,
the company expects its earnings to improve in the overall financial year
2009.

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Information and Explaination of the Issuer to this News:

The complete interim report as per 30 June 2009 and the newly published
interim report as per 31 March 2009 are available at www.313jwp.de.

Brief company portrait:
313music JWP AG produces and publishes music recorded by various artists,
acquires recordings of other producers and exploits these recordings. In
addition, the subsidiaries 313 Music GmbH and Manfred Hertlein
Veranstaltungs GmbH cover the artist and event management segments.
The company is listed in the Prime Standard Segment in Frankfurt.


Contact: Klaus Munzert, Ph: +49 89 9509490, F: +49 89 95094920,
contact@313jwp.de
www.313jwp.de


DGAP 26.08.2009 
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Language:     English
Issuer:       313music JWP AG
              Münchner Straße 135
              85774 Unterföhring
              Deutschland
Phone:        +49-(0)89 95 0 949 0
Fax:          +49-(0)89 95 0 949 2214
E-mail:       contact@313jwp.de
Internet:     www.313jwp.de
ISIN:         DE0005087506
WKN:          508750
Indices:      Prime All Share , Prime Media Performance-Index , Prime IG
              Movies & Entertainment
Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
              in Berlin, München, Düsseldorf, Stuttgart, Hamburg
 
End of News                                     DGAP News-Service
 
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