Börse Express – SHARE IN FOCUS 2: ProSiebenSat.1 sends cautious outlook to 10-year low

(continuously updated)

FRANKFURT (dpa-AFX broker) – A disappointing outlook and some
ProSiebenSat.1 shares have open questions at the
Thursday for the first time in a decade under 10 euros
pressed. Analysts said the objectives were negative
cash inflows are expected to decline.

In the afternoon, the media company’s share certificates were lost on
End of weak MDax 8.4 percent to 9.902 euros
on. A cloudy development if you keep in mind that
Papers in autumn 2015 at just under 51 euros
Climbed to a record high.

ProSieben’s annual forecasts for 2020 are weak, judged
the analysts in unison. At the same time, their views went to
expired fourth quarter of 2019. Here they spoke
Experts from Warburg and JPMorgan from “largely fulfilled” to
“met expectations”. Goldman Sachs analyst Lisa Yang saw
the core numbers as predominantly weaker. The colleagues Richard
Eary from UBS spoke briefly of “poor results”.

The focus was on the weak outlook. So management expects –
also due to investments – an adjusted operating result in 2020
(Ebitda) between 800 and 900 million euros and thus possibly
a little less than 2019. According to DZ Bank analyst Schnitzer
less than expected. He continues to see the Group’s profitability
under pressure and wants to check his estimates. Christoph Bast
from Bankhaus Lampe referred to the one expected by ProSieben
“at least in the double-digit million euro range” declining
Cash flow. “It’s all very disappointing,” summed up
the analyst.

Given the weak outlook, Yang emphasized that the
The company’s forecast margin for growth in advertising revenue
“very wide”. “The goals also contain no possible negative ones
Effects of the Corona Virus Still Acquiring the Meet Group, ”
she complained. The takeover of the United States
Online dating company Meet is expected to have synergy potential
also raised some questions with the daughter Parship, commented
Eary.

Meanwhile, analyst Daniel Kerven of JPMorgan highlighted that the acquisition
in the US the Germany business of “fast growing and
innovative media group “in this area
The acquisition also contributed only slightly to the financing structure
Leverage at. The probability of a counter bid for
Meet is also low, it said from the analysis house
Oppenheimer./ck/jsl/fba

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AXC0292 2020-03-05 / 15:48

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