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Monday 16 October, 2006


Trading Statement

16 October 2006

EMI Group provides trading update for the six months ended 30 September 2006, 
outlines strong second-half release schedule and confirms confidence in its
expectations for the full year

EMI Group plc expects to report a decline in total revenues of approximately 3%
on a constant currency basis for the six months to 30 September 2006. The
year-on-year decline in revenues is due to the phasing of EMI Music's planned
release schedule which, as previously indicated, has a greater weighting to the
second half of the financial year than in prior years. After the impact of
exchange rate movements over the period, group revenues are expected to decline
by close to 5% on a reported basis.

Underlying profit before tax, amortisation and exceptional items (underlying
PBT) is expected to be approximately £27m. The strength of upcoming releases,
together with continuing strong momentum at EMI Music Publishing and further
good progress on the cost savings initiatives announced in April 2006, give the
Board confidence that the Group is on track to deliver results in line with its
expectations for the full year.

EMI Music is expected to report a decline in revenues at constant currency of
approximately 4% for the six months to 30 September 2006. Digital revenues
continue to show strong growth and in the first half represented approximately
9% of divisional revenues. Top-selling releases over the period included new
albums from international superstar Janet Jackson and local superstars Hikaru
Utada, Chingy, Bob Seger, Trace Adkins, Underoath, Tiziano Ferro and Renaud. Of
particular note was the strong contribution from breaking and developing acts,
with successful new releases from Cherish, Letoya, Lily Allen, Jolin Tsai, 30
Seconds to Mars, The Red Jumpsuit Apparatus and on-going sales of albums from
Corinne Bailey Rae, The Kooks and Diam's.

The impact on EMI Music's divisional profit from both lower revenues and the
changed mix of releases as compared to the prior year, will be partly mitigated
by progress on the cost savings initiatives announced in April 2006. The
divisional operating margin is expected to be approximately 3% for the period
to 30 September 2006.

EMI Music's planned release schedule for the remainder of the financial year to
31 March 2007 features an exciting line up of albums from long-established
international and local superstars, as well as newly emerging global and local
talent. The highlights include albums from Norah Jones, Robbie Williams, Keith
Urban, Joss Stone, Dierks Bentley, RBD, Relient K, Tina Turner, All Saints,
Vasco Rossi, Simon Webbe, Depeche Mode, Moby and a Beatles release which
contains new music as featured in the highly acclaimed Cirque du Soleil show,
`Love', in Las Vegas. The planned artist releases, continued growth in digital
revenues and delivery of the announced cost savings, are expected to drive
strong growth in underlying revenues and profits in the second half of the
financial year.

On a constant currency basis, EMI Music Publishing is expected to report first
half revenues in line with the prior year. Performance revenues exhibited
particular strength, reflecting strong on-going chart share. The divisional
operating margin is expected to increase to approximately 25%. We expect that
EMI Music Publishing will continue to make good progress in the second half of
the current financial year, with key releases from the likes of Sting, Kelly
Clarkson, Fergie, Diddy, Scissor Sisters, Natasha Bedingfield, Kanye West and
Daddy Yankee.


All figures are at statutory rates unless otherwise stated.

All statements relating to profit refer to profit pre exceptional items,
re-measurements and amortisation of music copyrights and intangibles.

This trading statement contains forward-looking statements that are subject to
risk factors associated with, amongst other things, the economic and business
circumstances occurring from time to time in the countries, sectors and markets
in which the Group operates.  By their nature, forward-looking statements
involve a number of risks, uncertainties and assumptions because they relate to
events and/or depend on circumstances that may or may not occur in the future
and could cause actual results and outcomes to differ materially from those
expressed in or implied by the forward-looking statements.  Whilst it is
believed that the expectations reflected in these statements are reasonable, no
assurances can be given that the forward-looking statements in this trading
statement will be realised.


EMI Group plc

Amanda Conroy         Corporate Communications    +44 20 7795 7529           
Susie Bell            Investor Relations          +44 20 7795 7971                
Sonia Shah            Investor Relations          +44 20 7795 7625           

Brunswick Group LLP

Patrick Handley                                   +44 20 7404 5959