Successful start to fiscal year 2014 for Ströer Media AG
May 14, 2014 7:04 AM
Ströer Media AG / Key word(s): Quarter Results
Ströer Media AG's business developed positively in the first quarter of 2014. Consolidated revenue grew 19.1% year on year to EUR 145.7m. Organic growth also developed well, rising by 4.5%. This positive trend was primarily driven by significant revenue from the new Digital segment (Online) and two-digit organic growth in Turkey. Strategic acquisitions such as Tube One Networks and marketing partnerships such as with the digital sports advertising agency mediasports also laid promising foundations for a continuation of our positive business development.
Operational EBITDA was up a significant 22% to EUR 16.5m. The operational EBITDA margin also increased from 10.8% to 11.1%.
Adjusted profit for the period stood at EUR 0.1m, which was a clear improvement on the negative figures reported in the last four years.
Net debt increased marginally by EUR 2.4m in the reporting period to EUR 328.5m. In relation to operational EBITDA, this computes to a leverage ratio (the ratio of net debt to operational EBITDA) of 2.72. During the fiscal year, Ströer Media AG concluded an agreement on early refinancing of the credit facilities at considerably more favorable terms which will reduce borrowing costs from 2015 by more than 75% compared to the 2010 financing. The new credit facility was used to repay the existing syndicated loan.
The supervisory board and board of management have decided to propose to the shareholders at the Company's annual shareholder meeting on 18 June 2014 that a dividend of EUR 0.10 per qualifying share be distributed for the first time. This means that the dividend originally planned for fiscal year 2014 is being brought forward one year in response to the positive business performance. The board of management intends to pursue a sustainable dividend policy for the years to come.
"We are extremely pleased at making such a good start to the year. Positive contributions have been reported by all the divisions. We are particularly happy that our digital activities have contributed positively to revenue and are confident that they will continue to be a significant driver of our growth in the quarters ahead," said Udo Müller, CEO of Ströer.
Ströer Digital (Online)
For the second quarter of 2014, Ströer expects a mid to high single digit percentage organic revenue growth rate, and reported revenue in the low teens.
1. Joint ventures are consolidated at-equity - according to IFRS 11
2. Joint ventures are consolidated proportional (management approach)
3. Excluding exchange rate effects and effects from the (de-)consolidation and discontinuation of operations (Joint ventures are consolidated proportional)
4. Revenue less cost of sales (Joint ventures are consolidated at-equity - according to IFRS 11)
5. Earnings before interest, taxes, depreciation and amortization adjusted for exceptional items (Joint ventures are consolidated proportional)
6. Earnings before interest and taxes adjusted for exceptional items, amortization of acquired advertising concessions and impairment losses on intangible assets (Joint ventures are consolidated proportional)
7. Adjusted EBIT before non-controlling interest net of the financial result adjusted for exceptional items and the normalized tax expense (Joint ventures are consolidated proportional)
8. Adjusted profit or loss for the period net of non-controlling interests divided by the number of shares outstanding after the IPO (42,098,238) plus time-weighted addition of the shares from the capital increase (6,771,546) on 3 June 2013
9. Profit or loss for the period before non-controlling interest (Joint ventures are consolidated at-equity - according to IFRS 11)
10. Actual profit or loss for the period net of non-controlling interests divided by the number of shares outstanding after the IPO (42,098,238) plus time-weighted addition of the shares from the capital increase (6,771,546) on 3 June 2013
11. Including cash paid for investments in property, plant and equipment and in intangible assets (Joint ventures are consolidated at-equity - according to IFRS 11)
12. Cash flows from operating activities less cash flows from investing activities (Joint ventures are consolidated at-equity - according to IFRS 11)
13. Financial liabilities less derivative financial instruments and cash (Joint ventures are consolidated proportional)
14. Headcount of full and part-time employees (Joint ventures are consolidated proportional)
The Ströer Group commercializes several thousand websites and more than 280,000 out-of-home advertising faces. With consolidated revenue of EUR 634m for the full year 2013, Ströer Media AG is one of largest providers of out-of-home media in Europe in terms of revenue.
The Ströer Group has approximately 2,200 employees at over 70 locations.
For more information on the Company, please visit www.stroeer.com.
Investor Relations Contact
Ströer Media AG
Manager Investor Relations
Ströer-Allee 1 . D-50999 Cologne, Germany
Phone: +49 (0)2236 / 96 45-356
Fax: +49 (0)2236 / 96 45-6356
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|Company:||Ströer Media AG|
|Ströer Allee 1|
|Phone:||+49 (0)2236.96 45 0|
|Fax:||+49 (0)2236.96 45 299|
|Listed:||Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart|
|End of News||DGAP News-Service|