Source : EuropeanMarkets
Thomas Ebeling, CEO of ProSiebenSat.1 Media SE: "In the third quarter, we again increased revenues and earnings dynamically and have grown profitably in all segments. We are therefore heading for another very good year. At the same time, we will continue on our successful growth course. By 2018, we plan to increase our revenues to EUR 4.2 billion versus 2012 and we are targeting recurring EBITDA of EUR 1.1 billion. We are adhering to our shareholder-friendly dividend policy and will continue to pay out 80 % to 90 % of underlying net income in the future. This will allow us to continue to offer investors significant added value in the future."
Financial Highlights
ProSiebenSat.1 Group grew dynamically in the third quarter of 2015. The Group increased its revenues by 17.2 % to EUR 747.1 million (previous year: EUR 637.5 million). The latest acquisitions also contributed to this.
Recurring EBITDA also increased considerably with growth of 9.1 %, reaching EUR 177.8 million (previous year: EUR 162.9 million). Despite higher non-recurring expenses of EUR 11.4 million - primarily resulting from higher M&A activity - underlying net income rose to EUR 78.3 million. This corresponds to an increase of 4.8 % or EUR 3.6 million compared to the third quarter of 2014.
Over the first nine months of the year, ProSiebenSat.1 increased Group revenues by 13.8 % to EUR 2.174 billion (previous year: EUR 1.910 billion). The significant revenue growth led recurring EBITDA to rise 8.8 % to EUR 568.1 million (previous year: EUR 522.2 million).
Underlying net income grew by 11.7 % to EUR 266.4 million (previous year: EUR 238.5 million). In the first nine months, ProSiebenSat.1 expanded revenues outside the TV business to a share of 32.4 % (previous year: 26.8 %).
ProSiebenSat.1 raises revenue forecast for 2015
ProSiebenSat.1 Group also made a positive start to the fourth quarter of 2015 and confirms its positive outlook for the year. At the same time, the Group is raising its revenue forecast: ProSiebenSat.1 now expects to increase revenues by a low double-digit percentage for the current financial year. All segments will contribute to this.
Midyear, the Group still expected an increase by a high single-digit percentage rate.
Alongside the continued good business performance, the recently acquired digital companies will also promote growth. Recurring EBITDA and underlying net income are expected to exceed the previous year again. At the same time, ProSiebenSat.1 remains within a leverage target range of 1.5 to 2.5.
ProSiebenSat.1 is likewise aiming for dynamic growth in the medium term: At its Capital Markets Day in mid-October, the Group significantly raised its revenue growth target for 2018: The Company now intends to increase its revenues by EUR 1.85 billion compared to 2012 to around EUR 4.2 billion. Previously, an increase of EUR 1 billion to almost EUR 3.4 billion was planned. Recurring EBITDA is expected to rise by EUR 350 million to EUR 1.1 billion compared to the base year 2012.
Source : ProSiebenSat.1 Group, Munich (Germany), October 29, 2015.
