DGAP-Ad-hoc: ProSiebenSat.1 Media SE / Key word(s): Change in Forecast DISCLOSURE OF AN INSIDE INFORMATION ACCORDING TO ARTICLE 17 MAR ProSiebenSat.1 Media SE: Adjustment of financial outlook for the full year 2017 - Group revenues for the full year to grow by a mid-single digit percentage - Adjusted EBITDA and adjusted net income for the full year to slightly exceed the previous year's level - Q3 results in line with expectations Munich, November 8, 2017. ProSiebenSat.1 Media SE adjusts its financial outlook for the full year 2017. This was concluded today by the Company's Executive Board as a result of an analysis of recent business developments and current forecasts for the fourth quarter. The Content Production & Global Sales segment is expected to record a double-digit percentage decrease in revenues in the fourth quarter compared to the previous year's period. Main reasons for this development are strong comparable figures as well as shifts of some productions to the next year. Furthermore, the structural challenges for parts of the Digital Entertainment segment are continuing. In combination with a planned increase of programming costs in the Broadcasting German-speaking segment in the fourth quarter, ProSiebenSat.1 currently expects that both adjusted EBITDA (Q4 2016: EUR 392 million) and adjusted net income (Q4 2016: EUR 226 million) for the Group will be below the respective previous year's figure in the fourth quarter. Therefore, ProSiebenSat.1 now anticipates Group revenues for the full year 2017 to grow by a mid-single digit percentage range (2016: EUR 3,799 million). Previously, ProSiebenSat.1 expected an increase at least at a high-single digit percentage. Against the backdrop of the expected earnings development in the fourth quarter, ProSiebenSat.1 now anticipates for the full year a more moderate earnings improvement than before and expects the Group's adjusted EBITDA (2016: EUR 1,018 million) and adjusted net income (2016: EUR 536 million) to slightly exceed the previous year's level, respectively. Previously, ProSiebenSat.1 expected both the Group's adjusted EBITDA and adjusted net income for the full year to exceed the previous year's level. The business development of the Group within the third quarter 2017 was in line with expectations of the Company as adjusted on August 28, 2017. Note on reporting
08-Nov-2017 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
Language: | English |
Company: | ProSiebenSat.1 Media SE |
Medienallee 7 | |
85774 Unterföhring | |
Germany | |
Phone: | +49 (0)89 9507-1463 |
Fax: | +49 (0)89 9507-91463 |
E-mail: | Dirk.Voigtlaender@ProSiebenSat1.com |
Internet: | www.prosiebensat1.com |
ISIN: | DE000PSM7770 |
WKN: | 777117 |
Indices: | DAX |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; Luxemburg |
End of Announcement | DGAP News Service |
626975 08-Nov-2017 CET/CEST