SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13A-16 OR 15D-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
For the month of February 1999
ANTENNA TV S.A.
(Translation of registrant's name into English)
KIFISSIAS AVENUE 10-12
MAROUSSI 151 25
ATHENS, GREECE
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports
under cover Form 20-F or Form 40-F.
Form 20-F [X] Form 40-F [ ]
Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3- 2(b) under the Securities Exchange Act of
1934.
Yes [ ] No [X]
If "Yes" is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): 82-________.
<PAGE>
Antenna TV S.A. (the "Company") has filed with the Securities and
Exchange Commission a Registration Statement on Form F-1 (the "Registration
Statement") with respect to the registration for sale in an initial public
offering shares of its capital stock, nominal value GRD 100 per share,
represented by American Depositary Shares. The Company has included in the
Registration Statement audited financial statements for the fiscal year ended
December 31, 1998. The following table sets forth certain summary historical
financial information derived from the audited financial statements and included
in the Registration Statement:
<TABLE>
<CAPTION>
FISCAL YEAR ENDED DECEMBER 31,
1998 1998
------------------- ---------------------
(GRD) ($)(1)
<S> <C> <C>
STATEMENT OF OPERATIONS DATA
Advertising revenue.............................. 28,685 102.5
Related party revenue............................ 2,899 10.3
Other revenue.................................... 220 0.8
------------------- ---------------------
Total net revenue................................ 31,804 113.6
Cost of sales.................................... 5,142 18.4
Selling, general and administrative expenses..... 3,762 13.4
Amortization of programming costs................ 12,383 44.2
Depreciation..................................... 600 2.1
------------------- ---------------------
Operating income................................. 9,917 35.4
Interest expense, net............................ 2,847 10.2
Foreign exchange (losses) gains and other, net... (4,007) (14.3)
------------------- ---------------------
Income (loss) before income taxes................ 3,063 10.9
Provision (benefit) for income taxes(2).......... 2,078 7.4
------------------- ---------------------
Net income (loss)................................ 985 3.5
=================== =====================
Basic and diluted earnings (loss) per share...... 58.8 0.2
=================== =====================
BALANCE SHEET DATA (AT PERIOD END)
Total assets..................................... 58,879 210.4
Long-term obligations............................ 32,600 116.5
Total debt(3).................................... 32,666 116.8
Shareholders' equity............................. 5,370 19.2
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</TABLE>
(1) Translation of drachmae into dollars has been made at the rate of $1.00 =
GRD 279.90 (the Noon Buying Rate on December 31, 1998). Such translation is
provided solely for the convenience of the reader. On February 10, 1999, the
Noon Buying Rate was $1.00 = GRD 284.25.
(2) During Fiscal 1998, the drachma appreciated against the U.S. dollar, which
resulted in a foreign exchange loss on a forward contract for which no tax
benefit has been recognized due to the uncertainty of the ultimate ability
to realize such tax benefit.
(3) Total debt includes bank overdrafts and short-term borrowings, long-term
indebtedness (including the current portion thereof) and long-term
obligations under capital leases (including the current portion thereof).
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<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
ANTENNA TV S.A.
(Registrant)
By: /s/ Nikolaos Angelopoulos
-----------------------------
Name: Nikolaos Angelopoulos
Title: Chief Financial Officer
Dated: February 16, 1999
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