euro adhoc: ProSiebenSat.1 Media AG
Quarterly or Semiannual Financial Statements
DISCLOSURE UNDER SEC. 15 OF THE GERMAN SECURITIES TRADING ACT ProSiebenSat.1-Gruppe Still Contending with Advertising Crisis Nine-Month Report: TV company generates EBIT
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
Munich, November 7, 2002. The continuing recession in the television advertising market has again had a substantial impact on the business performance of the ProSiebenSat.1 Group in the third quarter of 2002. Nevertheless, the Group was able to improve its total third-quarter pre-tax earnings by EUR 0.9 million, to EUR -53.6 million. Yet revenues, at EUR 351.1 million between July and September, were down EUR 40.0 million against the same period of 2001. This amounts to a 10% decline. In the seasonal television business, the three summer months - July, August and September - are traditionally by far the weakest quarter.
The advertising crisis lowered revenues for the ProSiebenSat.1 Group by EUR 82.3 million between January and September of this year, to EUR 1.336 billion. This is equivalent to a 6% decline from the year before, even though the company has expanded its gross advertising market share 0.4 percentage points, to 45.9%. The ProSiebenSat.1 Groups EBITDA declined from EUR 113.5 million to EUR 47.9 million. EBIT was EUR 9.4 million, compared to EUR 67.1 million. Pre-tax result for the Group amounted to EUR -28.3 million, following on EUR +34.6 million the year before. DVFA/SG earnings per share were down to EUR -0.35 from the comparable periods EUR 0.06. Cash flow calculated by DVFA/SG methods amounted to EUR 773.7 million, following EUR 844.3 million. Compared to September 30, 2001, net financial debt declined EUR 50.9 million, to EUR 946.8 million.
end of announcement euro adhoc 07.11.2002
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Branche: Media
ISIN: DE0007771172
WKN: 777117
Index: MDAX
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