Terms of helplessness – the emperor at the Sky- Microphone Source : dpa
HB München. Sky Germany shocked its shareholders – and are losing more and more patience. Because the transmitter once again debt needs new money, the stock comes under massive pressure. The price fell in the head by more than a quarter to a record low of 1.05 euros. It is the fourth largest price drop in company history.
The share turnover was placed after a Hour of trading , more than six times as high as a whole average day . About 80 Percent of total business in the MDax went to the account of pay-TV broadcaster. In the morning were about as many Sky ‘s shares traded as of the three – Dax company Infineon , German Post and German Telekom together.
The recent price fall is the culmination of a rapid downward movement of the Sky- share. Last fall, the title of the pay station to around € 4.48 was worth it. Since then it gradually goes downhill – and the crash Pennystock level seems to be only a matter of time.
Sky had announced after a second loss in the second quarter to have to raise capital once again. With a capital increase and new debt at least 340 million € will be taken . The Media Mogul Rupert Murdoch and large shareholder secure this sum and his company News Corp. from . For Sky – formerly known under the Premiere brand – it’s been since going public in 2005 , the seventh injection of capital .
The funds are intended to improve the financial position and are placed in potential growth areas , the Sky is looking for but for years without any sustained progress . For example, the steps should offer high-definition broadcasts ( HD ) and the distribution will be strengthened.
Sky will take the money raised through the issue of almost 270 million new shares in September and October. In addition to issuing new shares, the company plans to procure more money in another way : could , depending on the response of investors in the new shares also issued a convertible bond and a shareholder’s loans are made available.
UBS analysts described the crash as an opportunity. At an issue price of not less than one euro per share and the Sky- chance on course for a doubling of the continuing turnaround should check every major course be understood as a particularly attractive entry point , an analyst Polo Tang wrote in a study on Tuesday. He reiterated his buy rating on Sky Germany and left the target 1.80 € .
The majority of analysts sees the station but skeptical: who , according to data from Bloomberg in recent months, four banks , the stock recommended for purchase , said five " hold "and five also advise investors to dump the papers. In the latest quarterly figures , and the collapse , however, have been very few houses responding.
For the second quarter of 2010 , the Company recorded a slight increase from revenues of € 236.1 million . The operating loss ( EBITDA ) improved to 47.4 million euros after a loss of 63.4 million a year earlier. Sky called higher sales per customer, a lower churn rate and lower program costs as reasons for the development. On balance , the loss was just under 82 million euros.
The new chief executive Brian Sullivan did not repeat earlier forecasts of the company. Instead, he said , Sky will the full year 2010 also red numbers in the write operations , but less than the recently accepted up to 170 million euros. 2011, it should then give improvements for rich black , it should not.
Sky has won from April to June 6000 net subscribers, and now a total of 2.47 million . According to earlier data from 2.8 to 3.0 million customers are required to get to profitability .