Ströer Out-of-Home Media AG Increases Stake in Turkish Joint Venture

Sep 03, 2010 3:52 PM

Ströer Out-of-Home Media AG / Joint Venture

03.09.2010 15:52

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Cologne, September 3, 2010

Ströer Out-of-Home Media AG Increases Stake in Turkish Joint Venture 
Stake in Ströer Kentvizyon increased from 50 to 90 percent / Full
consolidation as of September 1, 2010

Ströer Out-of-Home Media AG ('Ströer'), one of the leading providers of
out-of-home advertising in Europe, headquartered in Cologne, has increased
its stake in the Turkish joint venture Ströer Kentvizyon from 50 to 90
percent as planned. The purchase price is at EUR55 million. 'With this
step, we have completed the first of our growth projects announced in the
course of the IPO. With the reinforcement of our position in the largest
European growth market, we will now benefit even stronger from the
convincing prospects of the Turkish out-of-home advertising market,' says
Udo Müller, co-founder and CEO of the Ströer Group.

The agreement reached in March 2010 to increase the stake was initially
subject to various conditions. Following the fulfilment of the conditions,
the transaction was concluded as planned and the shares have been
transferred. As of September 1, 2010, the Turkish activities will be fully
consolidated in the Ströer Group. In the first half of 2010, the business
in Turkey, which was consolidated at 50 percent so far, achieved sales
revenue growth of 49.4 percent to EUR46.9 million (H1 2009: EUR31.4
million). The operational EBITDA even increased by 83.1 percent to EUR12.6
million (H1 2009: EUR6.9 million). 'The fact that we specifically expanded
our advertising media portfolio in Turkey before and during the financial
crisis has now paid off,' says Alfried Bührdel, CFO and Executive Vice
President of the Ströer Group.

In terms of sales revenue, Ströer is the number one out-of-home advertiser
in Turkey. The company markets over 43,000 advertising faces in 32 cities.
'The increase in the stake shows that the Ströer Group is convinced of the
growth opportunities in Turkey,' says Murat Ilbak, CEO of Ströer
Kentvizyon. 'We are already very well positioned in the Turkish market and
have additionally won the tender in Izmir this year. Moreover, with product
innovations such as the outdoor advertising format 'OutdoorTV', we are
advancing the development of the Turkish out-of-home advertising market.'
High occupancy rates of the large-format LED screens and positive customer
responses are confirming Ströer's decision to further expand the Turkish
network of 'OutdoorTVs' in the future.

About Ströer 
Ströer Out-of-Home Media AG is a specialist for all forms of outdoor
advertising - ranging from classic posters, advertising in waiting areas
and mass transit to digital and interactive media. The company markets over
280,000 advertising spaces and is one of the leading out-of-home
advertisers in Europe: In terms of sales revenue, Ströer is the leader in
its core markets of Germany, Turkey and Poland (following the acquisition
of News Outdoor Poland). In these markets the company provides its clients
with extensive networks for nationwide advertising campaigns. The Ströer
Group has some 1,600 employees at over 60 locations. The company's
portfolio comprises a variety of different outdoor advertising products. In
terms of advertising media and street furniture, the company values top
quality, innovation and superior design. With its products, Ströer sets new
standards of design of public spaces. Ströer street furniture has already
received 26 international awards. More information about the company is
available at

Press contact: 
Petra Kaiser
Ströer Out-of-Home Media AG
Corporate Communication
Ströer Allee 1 | D-50999 Cologne
Telephone: +49 (0)2236 - 96 45-246
Fax: +49 (0)2236 - 96 45-6246

IR contact: 
Stefan Hütwohl
Ströer Out-of-Home Media AG
Director Group Finance and Investor Relations 
Ströer Allee 1 | D-50999 Cologne, Germany 
Phone: +49 (0)2236 / 96 45-338  
Fax: +49 (0)2236 / 96 45-6338  

03.09.2010 Ad hoc announcement, Financial News and Press Release distributed by DGAP.
Media archive at and

Language:     English
Company:      Ströer Out-of-Home Media AG
              Ströer Allee 1
              50999 Köln
Phone:        +49 (0)2236.96 45 0
Fax:          +49 (0)2236.96 45 299
ISIN:         DE0007493991
WKN:          749399
Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
              in Hamburg, München, Düsseldorf, Berlin, Stuttgart
End of News                                     DGAP News-Service