The media group ProSiebenSat.1
takes annual forecast and due to the corona crisis
Proposed dividend back. Due to the current standstill of the
World economy and the resulting substantial
economic uncertainty is currently not possible for one
Outlook on financial results in the second quarter and for the
To give full year, the company said on Wednesday evening
Unterföhring near Munich.
In addition, the Management Board and the Supervisory Board have decided that
Propose to the Annual General Meeting, none for the 2019 financial year
To pay dividends. Originally, shareholders should have been 85 cents
received per share certificate. But keep to the previous one
Dividend policy fixed, 50 percent of adjusted
To distribute the Group’s consolidated net income.
Investors were also evident in view of the similar
Notices from various listed companies from the younger generation
Left in the past. The ProSiebenSat.1 share price gave up
the trading platform Tradegate in an initial reaction only to good
half a percent after.
The new board spokesman and CFO Rainer Beaujean said:
“By mid-March we were well on track until the first
Covid-19 effects have started our business in all segments
to affect. Because the duration and full scope of the pandemic
remain uncertain, it is currently not possible to get one
To give an outlook on our full year results. “
According to provisional figures, group sales rose in the first three
Months according to the information, by 1 percent to 926 million euros. in the
The previous year it had been 913 million euros. The
Initial restrictions in the Corona crisis would have the high-margin
Advertising business affected in the second half of March: The
Advertising sales therefore fell in the first quarter after the first
Line item cancellations by 4 percent.
The group also benefited from classified business such as
Example of the online beauty provider Flaconi. But because of the business
grew in lower-margin areas and in high-margin areas
(Advertising business) decreased, adjusted EBITDA declined in the first quarter
by 17 percent to EUR 157 million in the same period last year
it was still 190 million euros. The adjusted
The company reported consolidated net income of 58 million euros
(Previous year: 94 million euros).
ProSiebenSat.1 assumes that in April the advertising revenue in
TV business will decline by about 40 percent compared to last year
become. Also production postponements by Red Arrow Studios
affect business.
The group with more than 7200 employees is currently also checking whether it is
Will introduce short-time work within the entertainment business. In
the NuCom division with internet shops and platforms such as Verivox or
The media group uses the instrument of short-time working parship
already in some portfolio companies./he/rin
ISIN DE000PSM7770
AXC0383 2020-04-22 / 23: 36
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