Represents Sarbanes-Oxley Act consulting charges paid to third parties.
measure.
regrettably we had to reduce the number of employees by 13% since the first quarter 2020, but will continue to invest in core capabilities. attracted a wide range of coverage, while expanding new business wins, despite the uncertainty of the operating environment. Blizzard’s existing website. employees as of June 30, 2020, excluding discontinued operations. ", Mr. Brian Liao, Chief Financial Officer of Wanda Sports Group commented, "In addition to managing our financial and operating performance, one of our key focuses was on improving our liquidity, in particular in light of the uncertainty prompted by the global pandemic. Excluding reimbursement revenues[1], total revenue was €163.1 million (US$179.7 million), a decrease of 26% over the first quarter of 2019. The Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law. Finance costs were €10.3 million (US$11.6 million), compared with €12.2 million in the second quarter in 2019, primarily due to interest expense savings under the senior 364-day term loan facility entered into in March 2020, which was partially offset by an increase in foreign exchange loss. Reconciliation of Adjusted EBITDA and EBITDA, another non-IFRS financial measure, to the most directly comparable IFRS financial measure is set forth at the end of this release. Private Securities Litigation Reform Act of 1995. Infront is one of approximately 30 underwriters of the #Sport4Recovery initiative, which launched an international campaign to encourage policymakers to safely re-open organized sports. Represents expenses incurred for professional fees such as legal counsel, auditors, underwriters, valuation experts and consultants mainly in respect of acquisitions. English Premier League club Chelsea FC extended its partnership with the Group until 2021, with new products including a subscription-based paid video production that is currently being For investor and media inquiries, please contact: UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS, (Amounts in thousands of Euro (“€”) or, for convenience translation, thousands of U.S. Dollar (“$”), except for number of shares and per share data). Headquartered in China, Wanda Sports Group, excluding the discontinued operations, has more than 53 offices in 16 countries with over 1,200 employees around the world.
community. AMEX +20 Min. The Group signed a new three-year agreement with the Badminton World Federation (BWF). cancelled and a positive fair value adjustment of liabilities from acquisition of companies.
Total revenue from continuing operations for the second quarter of 2020 was €51.8 million (US$58.2 million), representing a decrease of 75% year-over-year, primarily attributable to a decrease in revenue from the Spectator Sports and DPSS segments due to the broad effects of COVID-19 mitigation efforts. Group company Megamarsch launched the #Wirgehenweiter (“we go further”) challenge that took place from June 20-21.
Digital, Production, Sports Solutions (DPSS). For investor and media inquiries, please contact: UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS, (Amounts in thousands of Euro (“€”) or, for convenience translation, thousands of U.S. Dollar (“$”), except for number of shares and per share data). Represents expenses or costs incurred in the restructuring and disposal of investments and subsidiary companies. Reconciliation of Adjusted EBITDA and EBITDA, another non-IFRS financial measure, to the most directly comparable IFRS financial measure is set forth at the end of this release.
Lega Serie A, the governing body of the top division of Italian club football, has joined forces with the Group to officially launch its Serie A Esports competition. (“ADS”) were both €0.22 (US$0.24), compared to basic and diluted net profit per ADS of both €0.17 in the second quarter of 2019. We will continue to further streamline our operations in order to preserve cash and protect our profitability. Selling, office and administrative expenses were €6.2 million (US$7.0 million), compared with €12.8 million in the second quarter in 2019, mainly resulting from the cost saving actions as well as the absence of IPO-related expenses incurred in 2019. 2 Reimbursement revenues represent revenue that has associated costs of a similar, generally matching, amount (reimbursement costs), thereby resulting in a negligible gross margin
8. indicator of our operating performance. On Jun 24, 2020, the German Football Association (DFB) informed the Group that it would end its longstanding partnership with Infront and terminate or discontinue all existing contracts based on
Announces Merger Agreement with Vincera Pharma, Inc. to Create New ... AgraFlora Organics Submits Response to Request for More Information from Health Canada and Moves ... Ozop Energy Solutions: PCTI Executes Agreement with PPP (India), “Past, Present, Future”: Taat CEO Sets the Scene for the Next Steps of Beyond Tobacco in New Corporate Video. Despite unprecedented market conditions, we still delivered revenue of €163.7 million, primarily driven by our resilient business model and long-term contractual agreements, especially from our Spectator Sports segment. We will remain vigilant in managing our operations and in investing in our future, so that we can be well-positioned to return to revenue and profit growth once the markets recover.”, Mr. Brian Liao, Chief Financial Officer of Wanda Sports Group commented, “Despite the expected contraction in our revenue and profitability, our personnel expenses and selling, office and administrative expenses in the second quarter of 2020 decreased by approximately 28% year-over-year, mainly driven by our cost reduction efforts from the start of the pandemic. The following table sets forth a breakdown of gross profit and the corresponding gross margin by segment for the periods indicated: Gross margin, or gross profit as a percentage of revenue, was 67%, compared with 36% in the corresponding quarter of 2019, primarily reflecting a higher weight of commission-model based business in football, which commands a higher gross margin. Excluding cash and cash equivalents attributable to discontinued operations, cash and cash equivalents were €164.7 million (US$181.5 million). The Group has renewed its contract with France’s Ligue Football Professional (LFP) for the next four seasons continuing a long-running and successful partnership. Es geht los – sofort einsteigen! Private Securities Litigation Reform Act of 1995. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those Mit dieser Firma sind Sie ... GEHEIMTIPP! We are pleased with the successful completion of the refinancing in March which enabled us to prepay the unsecured senior 364-day term loan facility entered in March 2019. As of June 30, 2020, the Group had total cash and cash equivalents of €167.5 million (US$188.3 million) from continuing operations. As of March 31, 2020, the Group had total interest-bearing liabilities of €930.5 million (US$1,025.0 million). Total revenue for the second quarter of 2020 was €51.8 million (US$58.2 million), representing a decrease of 75% year-over-year, primarily attributable to a decrease in revenue from the Spectator Sports and DPSS segments. Unless otherwise noted, all translations from There was an error processing your request. We are confident in the ability of our global Share-based compensation consisted of share-based compensation and social insurance expenses. This press release contains translation of certain Euro (“€”) amounts into U.S. Dollar (“$”) at specified rates solely for the convenience of readers. The Group jointly supported the launch of the first digital pro-cycling race series – the Digital Swiss 5, which saw professional cyclists competing across five digital races as an alternative to the cancelled Tour de Suisse. We encourage investors and others to review our financial information in its entirety and not rely on a single financial measure. Represents the amount estimated to be paid by Infront as compensation in connection with fraudulent activities presumablyundertaken by a former senior employee of Infront. Selling, office and administrative expenses were €9.4 million (US$10.3 million), compared with €7.0 million in the first quarter in 2019, mainly resulting from increased professional service fees relating to the Company's status as a public company following its initial public offering in July 2019. Other comprehensive income not to be reclassified to profit or loss in subsequent periods: Net remeasurement on defined benefit plans, Net loss on equity instruments designated at fair value through other comprehensive income, Net other comprehensive loss not to be reclassified to profit or loss in subsequent periods, Other comprehensive loss for the period, net of tax, Total comprehensive (loss)/income for the period, net of tax, Investments in associates and joint ventures, Liabilities directly associated with the assets held for sale, Equity attributable to equity holders of the parent, NET CASH FLOWS USED IN INVESTING ACTIVITIES, NET INCREASE IN CASH AND CASH EQUIVALENTS, Cash and cash equivalents at beginning of the period, Effect of foreign exchange rate changes, net, CASH AND CASH EQUIVALENTS AT END OF PERIOD, Profit for the period from continuing operations, Expenses or charges relating to acquisition(2), Expenses or charges relating to IPO or financing(3), Restructure and disposal of investments/subsidiaries(4), Loss/(gain) on foreign exchange and derivatives, and other financial charges(5), Estimated client compensation relating to fraudulent activities(6), Expenses or charges relating to Sarbanes-Oxley compliance(7), Remeasurement of contingent consideration(8), Expenses relating to shareholder class action lawsuit (10), Loss/(gain) for the period from discontinued operations, Net interest expense, income tax, depreciation and amortization, Adjusted EBITDA from discontinued operations. The Group extended its exclusive international media rights partnership with the Czech Republic Ski Federation from 2026 to 2031, and the Norway Ski Federation from English Premier League club Chelsea FC extended its partnership with the Group until 2021, with new products including a subscription-based paid video production that is currently being developed. Despite the challenging environment, the Group continues to adopt creative sports solutions by innovating within its business on multiple fronts.
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