Revenues Up at ProSiebenSat.1 Group in Q3

MUNICH: ProSiebenSat.1 Group saw revenue gains of 17.2 percent in the third quarter to 747.1 million euros ($819 million), and is now raising its full-year financial forecast.

Recurring EBITDA also increased considerably, up 9.1 percent, reaching 177.8 million euros ($195 million). There were higher non-recurring expenses of 11.4 million euros ($12.5 million), primarily from higher M&A activity. Even still, underlying net income rose to 78.3 million euros ($86 million), an increase of 4.8 percent from Q3 2014.

Thomas Ebeling, the CEO of ProSiebenSat.1 Media, said: "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 4.2 billion euros versus 2012 and we are targeting recurring EBITDA of 1.1 billion euros. We are adhering to our shareholder-friendly dividend policy and will continue to pay out 80 percent to 90 percent of underlying net income in the future. This will allow us to continue to offer investors significant added value in the future."

In the Broadcasting German-speaking segment, ProSiebenSat.1 increased its external revenues by 6.3 percent to 465.1 million euros ($510 million). Recurring EBITDA also grew by 6.3 percent, to 137.1 million euros ($150 million). ProSiebenSat.1 Group increased its TV advertising and audience market shares in all German-speaking markets in the third quarter of 2015. In the TV advertising market, the group benefited from a positive industry and economic environment and expanded its TV advertising market share in Germany to 45.5 percent.

In the Digital & Adjacent segment, external revenues increased by 31 percent to 207.9 million euros ($228 million), while recurring EBITDA rose by 16.7 percent to 37.7 million euros ($41 million).

In the Content Production & Global Sales segment, external revenues increased by 79.9 percent to 74.1 million euros ($81 million). Recurring EBITDA rose to 5.3 million euros ($5.8 million), and has more than doubled. Segment revenue growth was primarily organic, with the production business in the U.S. again making the greatest contribution to revenues. Globally, the U.S. is the most important production and distribution market for Red Arrow Entertainment Group.

The group is now raising its revenue forecast: ProSiebenSat.1 now expects to increase revenues by a low double-digit percentage for the current financial year. Recurring EBITDA and underlying net income are expected to exceed the previous year again.