HALF YEAR results for the SIX MONTHS ended 30 SEPTEMBER 2016 & Board Changes

BACKHALF YEAR results for the SIX MONTHS ended 30 SEPTEMBER 2016 & Board ChangesPerformance on track WITH STRONG SECOND HALF EXPECTED

Strong top-line growth across all Divisions



Group reported revenues 19% higher at £401 million (2015: £337 million), with growth across all Divisions on both a reported and constant currency basis



Group reported underlying EBITDA of £38 million (2015: £52 million) in line with management expectations, driven by the timing of increased theatrical investment in the very strong first half film slate which will drive second half performance



Group adjusted profit before tax of £24 million (2015: £40 million) and Group reported profit before tax of £4 million (2015: £18 million) delivering adjusted diluted earnings per share of 2.6 pence per share (0.1 pence per share on a reported basis)



Increased cash generation from operations in the period supporting the higher investment in content planned in the first half, net debt leverage expected to be 1.1 1.2x Group underlying EBITDA at year end

Creating a global television business



Top-line growth of 20% in the period with revenues increasing to £98 million (2015: £82 million) and underlying EBITDA in line with the prior year period



360 half hours of new programming acquired/produced in the period (2015: 442 half hours) with 86% of revenues for the full year already delivered contracted or commissioned



Full year half hours acquired/produced on track to be around 1100 with investment in acquired content and production spend expected to grow to around £140 million

The Mark Gordon Company delivers strong new productions under independent studio model



Financial performance in line with expectations with good sales growth and earnings from existing library participations



Productions now delivering to underpin full year outlook with extremely positive debut for Designated Survivor which has premiered with very strong ratings on ABC

Making Peppa Pig the world s most loved pre-school property



The Family Division saw strong growth in the period with revenues up 16% to £38 million (2015: £33 million) and underlying EBITDA up 13% to £25 million (2015: £22 million)



Strong performance for Peppa Pig as the US roll-out continues, with Peppa becoming the best-selling pre-school girls toy licensed property in the US during September 2016, and good growth for the property in China



PJ Masks continues to deliver compelling audience figures in the US, consistently in the top three shows on Disney Jr, with a very positive merchandising launch

Film box office growth drives second half exploitation windows



Film Division revenues were 9% higher at £242 million (2015: £222 million) and underlying EBITDA lower at £2 million loss (2015: £13 million profit), driven by increased theatrical investment in the successful first half film slate



Box office takings up by 55% to US$152 million (2015: US$98 million), which will continue to deliver strong revenue and EBITDA as films to-date move through subsequent exploitation windows



88 theatrical releases in the period (2015: 96), with significant increase in average box office performance, and around 180 theatrical releases expected for the full year with investment in acquired content expected to be around £160 million

On track to deliver strategic targets by 2020



Strong start to the financial year and well-developed television pipeline and film slate in place to deliver full year financial performance in line with management expectations



Independent library valuation increased to US$1.5 billion (2015: US$1 billion)

Full results: http://otp.investis.com/clients/uk/entertainment-one/rns/regulatory-story.aspx?cid=52&newsid=819303

Additonally, Entertainment One today announced the following Board changes. Giles Willits, Chief Financial Officer, has notified the Board of his decision to step down from the Board. Following almost ten successful years with the Group, Giles has decided to take some time off and then look to develop the next stage of his career. The Board is pleased to announce that Joe Sparacio will join as interim CFO with immediate effect. Joe has extensive experience in the sector having recently stepped down as CFO of IMAX after nine years in the role. Prior to this he held senior finance roles at iN DEMAND and Loews Cineplex Entertainment. The Board is pleased to announce the appointment of Mitzi Reaugh as a Non-Executive Director. Mitzi has extensive experience in the sector having held senior positions in a number of large media and internet businesses. These include Miramax, The Chernin Group, NBC Universal and currently Nasdaq listed Harmonic. Allan Leighton, Non-executive director and chairman, commented: "On behalf of the Board I would like to thank Giles for his significant contribution and welcome Joe and Mitzi to the Company."

Disclosure requirements under Rule 9.6.13 of the Financial Conduct Authority s Listing Rules are as follows:

Mitzi is currently a Director of Harmonic, Inc.

There are no further disclosures required under Listing Rule 9.6.13 of the Financial Conduct Authority s Listing Rules

LINK:	http://www.entertainmentone.com/press/half-year-results-for-the-six-mo...
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