Interactive entertainment industry full-service provider exceeds fiscal expectations significantly
Bruchsal, Germany, January 18, 2008 - cdv Software Entertainment AG, listed at the Frankfurt Stock Exchange (General Standard), expects to report a revenue before returns and conditions of about 24 million EUR for the cdv Group for the business year concluding on December 31, 2007. This result is based on a pro forma basis, taking into consideration revenue and expenditures of all subsidiaries which were acquired during 2007. This represents a growth of 50 percent when compared to the previous year's revenue (16 million EUR). On a pro forma basis, the management board expects earnings before income and taxes (EBIT) of approximately 2.7 million EUR for 2007, compared to an overall loss of 8.3 million EUR during the previous year. These numbers considerably exceed even the company's own expectations of 2 million EUR.
These earnings illustrate further that cdv Software Entertainment AG is well on the way to becoming the leading full-service provider of computer- and video games as well as accessories; a performance growth of over 10 million EUR in a period of 12 months also proves the effectiveness and long-term success of its recent restructuring efforts. Due to the better than expected performance for the reporting period, management has elevated its forecast for 2008, expecting identical or greater revenue growth, with an anticipated double-digit EBIT for the coming year.
About cdv Software Entertainment AG
cdv Software Entertainment AG is the only publicly traded, independent full service provider for the games sector in Germany. Together with its subsidiaries cdv Software Entertainment USA, cdv POS GmbH, Gamesmania, and seven_m, cdv has outstanding contacts within all key markets and decades of expertise. As a leading sales and service partner for the entire games and software industry, cdv is excellently positioned on the global market thanks to branches focused on Germany, Switzerland and Austria (GSA), North America, Hungary, the Czech Republic and Slovakia as well as noted international partners. Alongside its strong product placement and international distribution logistics, cdv offers its customers a wide range of sales-promoting methods and an extensive, professional marketing and promotion service from a single source. The company, which was founded in 1989 and is headquartered in Bruchsal, Germany, has been on a steady growth course since its 2007 consolidation and is aiming in the medium term for a strong market position as one of the globally leading full service providers in the games sector. More information is available at http://www.cdv.de.
About cdv Software Entertainment USA
cdv Software Entertainment USA, a wholly owned subsidiary of cdv Software Entertainment AG, is a leading publisher of third-party video games and interactive entertainment with offices in New Jersey and headquarters in Cary, North Carolina. cdv Software Entertainment USA has published critically acclaimed and commercially successful titles including Divine Divinity, Blitzkrieg, American Conquest, Codename: Panzers, City Life, DarkStar One, War Front: Turning Point and the acclaimed Sherlock Holmes: The Awakened. The company will continue to expand its offerings with upcoming titles including the highly anticipated A GEOD’s American Civil War: 1861-1865– The Blue and The Gray, Pacific Storm Allies and Sudden Strike 3: Arms for Victory. For more information, please visit http://www.cdvus.com.