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ProSiebenSat.1 Group increases full-year outlook based on strong revenue and adjusted EBITDA growth in the second quarter of 2021

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ProSiebenSat.1 Media SE / Key word(s): Quarterly / Interim Statement/Forecast
ProSiebenSat.1 Group increases full-year outlook based on strong revenue and adjusted EBITDA growth in the second quarter of 2021

19-Jul-2021 / 19:18 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

Unterföhring, July 19, 2021. ProSiebenSat.1 Group revenues increased considerably by 47% to around EUR 1,045 million (previous year: EUR 709 million) in the second quarter of 2021 on the basis of preliminary and unaudited figures. Adjusted EBITDA also developed very positively on this basis and grew more than sevenfold to around EUR 165 million (previous year: EUR 23 million). This was especially driven by the dynamic increase of the Group's advertising revenues in the region of Germany, Austria and Switzerland which increased by 56% compared to the previous-year quarter. The Group thus recorded a very strong recovery compared to the COVID-19 impacted previous-year quarter.

Following this substantial and profitable growth, the Group also again increases its outlook for financial year 2021 which most recently had been adapted on May 12, 2021 on the occasion of the Q1 2021 Quarterly Statement: In total, the Group is now targeting for full-year 2021 - without further portfolio changes - revenues of EUR 4.400 billion (previously: EUR 4.250 billion) as the lower end and revenues of EUR 4.500 billion (previously: EUR 4.450 billion) as the upper end of the target range (previous-year figure adjusted for currency and portfolio effects: EUR 4.055 billion(1)). In financial year 2021, Group revenue growth would thus be in a range between 9% and 11% compared to the previous year (previously: 5% to 10%). Based on these revenue assumptions, for the full-year of 2021 ProSiebenSat.1 now anticipates a Group adjusted EBITDA - without further portfolio changes - of around EUR 820 million with a variance of plus/minus EUR 20 million (previously: target range of EUR 750 million to EUR 800 million; previous-year figure adjusted for currency and portfolio effects: EUR 708 million(2)). This corresponds for the mid-point to a year-on-year increase of 16%.

(1) Based on revenues in financial year 2020 translated at the exchange rates used for planning purposes in financial year 2021 (EUR/USD exchange rate of around USD 1.22) less revenues of the companies deconsolidated in 2020 - WindStar Medical at EUR 114 million and myLoc at EUR 10 million - plus pro forma revenues for The Meet Group between January and August 2020 of EUR 173 million, also translated at the exchange rate used for planning purposes in financial year 2021 (EUR/USD exchange rate of around USD 1.22).

(2) Based on adjusted EBITDA in financial year 2020 translated at the exchange rates used for planning purposes in financial year 2021 (EUR/USD exchange rate of around USD 1.22) less adjusted EBITDA of the companies deconsolidated in 2020 - WindStar Medical at EUR 23 million and myLoc at EUR 3 million - plus the pro forma adjusted EBITDA contributions for The Meet Group between January and August 2020 of EUR 33 million, also translated at the exchange rate used for planning purposes in financial year 2021 (EUR/USD exchange rate of around USD 1.22).



Contact:
Stefanie Rupp-Menedetter
Head of Group Communications & Events

ProSiebenSat.1 Media SE
Medienallee 7 · D-85774 Unterföhring
Tel. +49 89 950 725 98
Mobil +49 17 283 527 03

Stefanie.Rupp@prosiebensat1.com

19-Jul-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

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:

MDAX

Listed:

Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; Luxembourg Stock Exchange

EQS News ID:

1220074


 

End of Announcement

DGAP News Service

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