euro adhoc: ProSiebenSat.1 Media AG
Financial Figures/Balance Sheet
Q3 2005:
ProSiebenSat.1 Group Shows Substantial Growth in Revenues and Earnings
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
25.10.2005
Munich, October 25, 2005. ProSiebenSat.1 Media AG boosted its revenues and earnings substantially in the third quarter of fiscal 2005 according to preliminary figures. At EUR 415.9 million, consolidated revenues were up 15 percent from the EUR 362.1 million generated in the same quarter last year. The growth rates for EBITDA and pre-tax profit were even more substantial. The television corporations third-quarter EBITDA, at EUR 60.0 million, was up EUR 38.3 million, or 177 percent, from EUR 21.7 million in the comparable quarter. The EBITDA margin rose to 14.4 percent in the traditionally weakest quarter of the year from 6.0 percent in the comparable quarter of 2004. The consolidated pre-tax profit of EUR 38.5 million was nine times higher than the prior-year quarter, which showed a pre-tax profit of EUR 4.3 million.
The ProSiebenSat.1 Group owes its welcome third-quarter performance mainly to higher advertising revenues at Sat.1, ProSieben, kabel eins and N24. The figures demonstrate how the performance of the Groups stations has improved - their audience share of the 14-to-49 key demographic in Q3 2005 was up 1.9 percentage points to 30.2 percent against 28.3 percent in the same quarter last year. The Diversification segment also showed gains, due to the first-time consolidation of 9Live.
The gain in revenues and earnings for the third quarter of this year also yields a positive nine-month showing for the Group according to preliminary figures. Revenues, at EUR 1,353.6 million, were 4.6 percent above the equivalent of EUR 1,294.3 million from 2004. EBITDA gained 20 percent to reach EUR 250.8 million, compared to EUR 209.1 million for the comparable period. The EBITDA margin rose to 18.5 percent from 16.2 percent in the comparable period. The Groups pre-tax earnings of EUR 202.8 million were up 67 percent from the comparable periods EUR 121.6 million.
Due to the positive development of revenues in the third quarter 2005 the ProSiebenSat.1 Group has decided to not fully pursue the additional operative cost savings of EUR 30 million that had been planned in the first half of 2005 as a reaction to decreasing revenues. These cost savings will be reduced by EUR 10 million. Despite growth in Q3, the ProSiebenSat.1 Group has reconfirmed its projections for the German TV advertising market, and continues to assume that net TV advertising revenues will decline some 2 percent in 2005. The Group also still assumes that it will perform better than the market as a whole.
The ProSiebenSat.1 Media AG will publish the complete report on the Q3 and nine months figures for fiscal 2005 on November 10, 2005.
end of announcement euro adhoc 25.10.2005 10:49:28
Further inquiry note:
Katja Pichler
Konzernsprecherin
Te..: +49 (0)89 9507 1180
E-Mail: Katja.Pichler@ProSiebenSat1.com
Branche: Television
ISIN: DE0007771172
WKN: 777117
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