EQS-News: Your Family Entertainment AG
/ Key word(s): AGM/EGM/Annual Results
Corporate News of Your Family Entertainment AG
Strong performance: Your Family Entertainment AG presents excellent annual results at its annual shareholder meeting and looks to the future with confidence
Munich, June 28, 2023 - Satisfied faces at the Annual General Meeting of Your Family Entertainment AG yesterday, Tuesday, at the Munich Stock Exchange. Board members Dr. Stefan Piech (CEO) and Bernd Wendeln (COO) as well as CFO Michael Huber presented the shareholders with strong financial figures and looked with confidence at the future development of the company.
At 4.2 million euros, sales in fiscal year 2022 were around 35% above the previous year's level of 3.1 million euros. EBITDA adjusted for the costs of the capital measures amounted to 544 thousand euros in the past fiscal year and thus improved by around 0.5 million euros compared to 2021
YFE was able to present equally pleasing balance sheet figures. Several capital measures were carried out in the financial year 2022. The subscribed capital increased to around 15.3 million euros and there were no more liabilities to banks as of the balance sheet date of December 31, 2022. Cash and cash equivalents increased by around 3.2 million euros in 2022, and the equity ratio rose from 46% to 85%. The balance sheet was thus significantly strengthened in the past fiscal year.
Dr. Stefan Piech, CEO YFE AG: "We are a purpose-driven company; our main goal is not only to provide entertainment for children and young people, but also to impart education, inspiration and values. We strongly believe that media has a transformative power and can therefore have a positive impact on young people. This conviction is reflected in the high motivation of our employees. They work with passion and commitment to create content that not only entertains, but also adds value.“
Essential for the long-term development of the company is the strategic partnership with YFE's main shareholder Genius Brands International, which changed its name to Kartoon Studios recently and which is now listed on the New York Stock Exchange (NYSE). Last year, Your Family Entertainment AG entered into a strategic partnership with Kartoon Studios in the areas of content and joint distribution, the positive results of which are already reflected in the past fiscal year.
COO Bernd Wendeln's forecast is correspondingly optimistic: "We are building on the unique combination with Hollywood in the family entertainment "with a purpose" segment. We are operating competitively from a strengthened equity base and with a net cash position. Furthermore, we are currently finding many exciting and value-enhancing business opportunities in the market, which we intend to exploit accordingly in the coming weeks and months.“
About Your Family Entertainment AG:
Three Winters GmbH
|Company:||Your Family Entertainment AG|
|Phone:||+49 (0)89 997 271-0|
|Fax:||+49 (0)89 997 271-91|
|Listed:||Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Stuttgart|
|EQS News ID:||1668183|
|End of News||EQS News Service|