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17.03.2016 08:09:36
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DGAP-News: Constantin Medien AG
DGAP-News: Constantin Medien reports a successful 2015 financial year - Group-EBIT nearly doubled to EUR 40.3 million
- Business performance in the Sports and Film Segments significantly above original expectations
- SPORT1-platforms still on the rise
- Group sales of EUR 482 million at upper end of target range between EUR 450 million and EUR 490 million
- Group earnings attributable to shareholders of EUR 12.4 million above forecast of EUR 10 million to EUR 12 million
- Continuation of the positive operating trend expected in the current year
Ismaning, March 17, 2016 - Constantin Medien AG closed a successful financial year 2015, with an earnings performance clearly exceeding the original target. The Group earnings before interest and taxes (EBIT) nearly doubled to EUR 40.3 million. The jump in earnings is largely due to three effects: growth and expansion of the platforms of SPORT1, theatrical successes of Constantin Film and the realization of a one-off income from a legal dispute. All operating segments of the media group improved their earnings - partly considerably.
Performance indicators of the Group 2015
- Group sales reached EUR 481.6 million after EUR 487.8 million in 2014 (-1.3 percent) and therefore were within the upper range of the target of EUR 450 million to EUR 490 million. Except for the Film Segment, all segments increased sales against the previous year.
- Profit from operations (EBIT) substantially increased by EUR 18.9 million to EUR 40.3 million (2014: EUR 21.4 million). Earnings contributed by the Sports and Film Segments were above the expectations. EBIT was positively impacted by a one-off income of EUR 3.3 million arising from the reversal of a provision as a result of a judicial review proceeding (Spruchverfahren) decided by the Munich District Court I in favor of Constantin Medien AG in December 2015.
- The financial result improved by EUR 0.5 million to EUR -12.7 million in the reporting year (2014: EUR -13.2 million), amongst others, due to lower financial expenses. - Group net result increased from EUR 3.9 million to EUR 20.0 million. Earnings attributable to shareholders of Constantin Medien AG of EUR 12.4 million were slightly above the target range of between EUR 10 million and EUR 12 million that was most recently adjusted upwards in December 2015.
Fred Kogel, CEO: "2015 was one of the most successful financial years in a long time for Constantin Medien. SPORT1, which we have built with great commitment and creativity into Germany's leading multimedia sports platform, continues to be on the rise in terms of market shares, coverage and with regard to attractiveness for advertisers. With 'Fack Ju Göhte 2', the Film Segment has brought one of the most successful German productions ever into the cinemas. Constantin Medien is a media group with a very solid market position and many strengths which we would like to expand and use even more consequently in the future. Our focus continues to lie on sustainably increasing the value of the company for our shareholders."
Performance of the segments
- The Segment Sports, with the sports platform SPORT1, further expanded its program portfolio and digital offers, created new fields of marketing and further increased the coverage and market shares of its platforms in 2015. Sales rose by 6.3 percent to EUR 157.6 million (2014: EUR 148.2 million). Segment earnings jumped from EUR 3.7 million to EUR 13.4 million, also due to lower production and license costs. SPORT1 succeeded in significantly increasing the market share of its free-TV channel by 23 percent to 1.6 percent in the advertising-relevant target group of males aged between 14 and 49 years (2014: 1.3 percent). It also increased the cumulative access figures of its online and mobile offers by 39 percent for page impressions and by 21 percent for visits. Compared to previous year, the video views grew by 78 percent. The expansion of partnerships with existing advertising clients and the acquisition of new advertising customers led to an increase in advertising revenues from marketing in the areas of free-TV, online and mobile. In 2015, sales in the production area were slightly below expectations.
- Last year, the Segment Film profited from a very pleasing development in the theatrical distribution area. Five productions of Constantin Film drew an audience of more than one million viewers to theaters; above all the comedy "Fack Ju Göhte 2", which by the end of the year had attracted more than 7.6 million moviegoers. However, sales in the Home Entertainment area fell significantly against the prior year, which was characterized by the excellent performance of the first part of "Fack Ju Göhte" on the German market. In the TV service production area, the series "Shadowhunters" was the first international major production to be successfully realized for the US broadcaster Freeform (formerly: ABC Family). Sales in the Film Segment reached EUR 272.3 million and, as expected, were below the prior year's figure of EUR 295.6 million (-7.9 percent). This is because no international in-house productions were released to theaters in 2015. Due to the successes of the theatrical releases of German productions, segment earnings significantly increased from EUR 9.1 million to EUR 14.5 million.
- The Segment Sports- and Event-Marketing continued to stay on a high earnings level in the reporting year. Segment sales grew by 18.0 percent to EUR 48.5 million (2014: EUR 41.1 million) and segment earnings increased by 4.3 percent to EUR 17.0 million despite higher pension liabilities and negative currency effects. It was of key importance in 2015 that the existing co-operation of more than 20 years between the Swiss agency TEAM and the UEFA in terms of marketing of the UEFA Champions League and the UEFA Europa League could be extended on a long-term basis by the conclusion of a new agency agreement.
- The Segment Other Business Activities generated sales of EUR 3.2 million in 2015 (2014: EUR 2.9 million) and segment earnings of EUR -1.3 million (2014: EUR -1.6 million). On February 3, 2016, Highlight Event & Entertainment AG was sold by Highlight Communications AG, a Constantin Medien subsidiary. The activities of the segment will not be continued.
- The earnings of the Others division (holding costs) significantly improved to EUR -3.3 million (2014: EUR -6.2 million). Material factor was the one-off income of EUR 3.3 million arising from the reversal of a provision for the legal dispute (judicial review proceeding, Spruchverfahren) decided in favor of the Company.
Outlook for 2016 financial year
For the current 2016 financial year, the Management Board is anticipating Group sales ranging between EUR 550 million and EUR 590 million. The clear increase against the previous year mainly relates to expected sales from international theatrical and TV productions. These sales are mainly determined through pre-sales at the respective production start and largely serve to secure the corresponding production costs. Based on a success of these productions, earnings contributions do not arise before the following exploitation stages or subsequent productions. Regarding the Group earnings development, it should also be noted that the 2015 financial year was one of the most successful years in the history of Constantin Film and that the realized income from the aforementioned legal dispute was a one-time effect. Against this backdrop, Constantin Medien is assuming earnings attributable to shareholders at a range between EUR 6 million and EUR 9 million for 2016. Consequently, the positive operating earnings trend from prior years would continue.
The Constantin Medien Group at a glance
Group results according to IFRS
in EUR million 2015 2014 Change in % Sales 481.6 487.8 -1.3 EBIT 40.3 21.4 +88.3 Net result 20.0 3.9 +412.8 (Earnings after taxes) Earnings attributable to shareholders 12.4 -3.3 -- Earnings per share (in Euro) 0.14 -0.04 -- Segment sales Sports 157.6 148.2 +6.3 Film 272.3 295.6 -7.9 Sports- and Event-Marketing 48.5 41.1 +18.0 Other Business Activities 3.2 2.9 +10.3 Segment earnings Sports 13.4 3.7 +262.2 Film 14.5 9.1 +59.3 Sports- and Event-Marketing 17.0 16.3 +4.3 Other Business Activities -1.3 -1.6 +18.8 in EUR million 12/31/2015 12/31/2014 Change in % Balance sheet total 540.2 424.7 +27.2 Equity 57.6 62.5 -7.8 Equity ratio (%) 10.7 14.7 -4.0 points
Contact:
Constantin Medien AG Frank Elsner Kommunikation für Unternehmen GmbH Sabine Lais Frank Elsner Director Communication Phone: +49 (0) 89 99 500 461 Phone: +49 (0) 54 04 91 92 0 Fax: +49 (0) 89 99 500 466 Fax: +49 (0) 54 04 91 92 29 sabine.lais@constantin- info@elsner-kommunikation.de medien.de
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17.03.2016 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English Company: Constantin Medien AG Münchener Straße 101 g 85737 Ismaning Germany Phone: 089 / 99500-436 Fax: 089 / 99500-433 E-mail: ir@constantin-medien.de Internet: http://www.constantin-medien.de ISIN: DE0009147207, DE000A1R07C3 WKN: 914720, A1R07C Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart End of News DGAP News Service ---------------------------------------------------------------------------
446261 17.03.2016
DGAP-News: Constantin Medien AG / Key word(s): Final Results
Constantin Medien reports a successful 2015 financial year - Group-EBIT
nearly doubled to EUR 40.3 million
17.03.2016 / 08:09
The issuer is solely responsible for the content of this announcement.
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PRESS RELEASE
Constantin Medien reports a successful 2015 financial year - Group-EBIT
nearly doubled to EUR 40.3 million
- Business performance in the Sports and Film Segments significantly above original expectations
- SPORT1-platforms still on the rise
- Group sales of EUR 482 million at upper end of target range between EUR 450 million and EUR 490 million
- Group earnings attributable to shareholders of EUR 12.4 million above forecast of EUR 10 million to EUR 12 million
- Continuation of the positive operating trend expected in the current year
Ismaning, March 17, 2016 - Constantin Medien AG closed a successful financial year 2015, with an earnings performance clearly exceeding the original target. The Group earnings before interest and taxes (EBIT) nearly doubled to EUR 40.3 million. The jump in earnings is largely due to three effects: growth and expansion of the platforms of SPORT1, theatrical successes of Constantin Film and the realization of a one-off income from a legal dispute. All operating segments of the media group improved their earnings - partly considerably.
Performance indicators of the Group 2015
- Group sales reached EUR 481.6 million after EUR 487.8 million in 2014 (-1.3 percent) and therefore were within the upper range of the target of EUR 450 million to EUR 490 million. Except for the Film Segment, all segments increased sales against the previous year.
- Profit from operations (EBIT) substantially increased by EUR 18.9 million to EUR 40.3 million (2014: EUR 21.4 million). Earnings contributed by the Sports and Film Segments were above the expectations. EBIT was positively impacted by a one-off income of EUR 3.3 million arising from the reversal of a provision as a result of a judicial review proceeding (Spruchverfahren) decided by the Munich District Court I in favor of Constantin Medien AG in December 2015.
- The financial result improved by EUR 0.5 million to EUR -12.7 million in the reporting year (2014: EUR -13.2 million), amongst others, due to lower financial expenses. - Group net result increased from EUR 3.9 million to EUR 20.0 million. Earnings attributable to shareholders of Constantin Medien AG of EUR 12.4 million were slightly above the target range of between EUR 10 million and EUR 12 million that was most recently adjusted upwards in December 2015.
Fred Kogel, CEO: "2015 was one of the most successful financial years in a long time for Constantin Medien. SPORT1, which we have built with great commitment and creativity into Germany's leading multimedia sports platform, continues to be on the rise in terms of market shares, coverage and with regard to attractiveness for advertisers. With 'Fack Ju Göhte 2', the Film Segment has brought one of the most successful German productions ever into the cinemas. Constantin Medien is a media group with a very solid market position and many strengths which we would like to expand and use even more consequently in the future. Our focus continues to lie on sustainably increasing the value of the company for our shareholders."
Performance of the segments
- The Segment Sports, with the sports platform SPORT1, further expanded its program portfolio and digital offers, created new fields of marketing and further increased the coverage and market shares of its platforms in 2015. Sales rose by 6.3 percent to EUR 157.6 million (2014: EUR 148.2 million). Segment earnings jumped from EUR 3.7 million to EUR 13.4 million, also due to lower production and license costs. SPORT1 succeeded in significantly increasing the market share of its free-TV channel by 23 percent to 1.6 percent in the advertising-relevant target group of males aged between 14 and 49 years (2014: 1.3 percent). It also increased the cumulative access figures of its online and mobile offers by 39 percent for page impressions and by 21 percent for visits. Compared to previous year, the video views grew by 78 percent. The expansion of partnerships with existing advertising clients and the acquisition of new advertising customers led to an increase in advertising revenues from marketing in the areas of free-TV, online and mobile. In 2015, sales in the production area were slightly below expectations.
- Last year, the Segment Film profited from a very pleasing development in the theatrical distribution area. Five productions of Constantin Film drew an audience of more than one million viewers to theaters; above all the comedy "Fack Ju Göhte 2", which by the end of the year had attracted more than 7.6 million moviegoers. However, sales in the Home Entertainment area fell significantly against the prior year, which was characterized by the excellent performance of the first part of "Fack Ju Göhte" on the German market. In the TV service production area, the series "Shadowhunters" was the first international major production to be successfully realized for the US broadcaster Freeform (formerly: ABC Family). Sales in the Film Segment reached EUR 272.3 million and, as expected, were below the prior year's figure of EUR 295.6 million (-7.9 percent). This is because no international in-house productions were released to theaters in 2015. Due to the successes of the theatrical releases of German productions, segment earnings significantly increased from EUR 9.1 million to EUR 14.5 million.
- The Segment Sports- and Event-Marketing continued to stay on a high earnings level in the reporting year. Segment sales grew by 18.0 percent to EUR 48.5 million (2014: EUR 41.1 million) and segment earnings increased by 4.3 percent to EUR 17.0 million despite higher pension liabilities and negative currency effects. It was of key importance in 2015 that the existing co-operation of more than 20 years between the Swiss agency TEAM and the UEFA in terms of marketing of the UEFA Champions League and the UEFA Europa League could be extended on a long-term basis by the conclusion of a new agency agreement.
- The Segment Other Business Activities generated sales of EUR 3.2 million in 2015 (2014: EUR 2.9 million) and segment earnings of EUR -1.3 million (2014: EUR -1.6 million). On February 3, 2016, Highlight Event & Entertainment AG was sold by Highlight Communications AG, a Constantin Medien subsidiary. The activities of the segment will not be continued.
- The earnings of the Others division (holding costs) significantly improved to EUR -3.3 million (2014: EUR -6.2 million). Material factor was the one-off income of EUR 3.3 million arising from the reversal of a provision for the legal dispute (judicial review proceeding, Spruchverfahren) decided in favor of the Company.
Outlook for 2016 financial year
For the current 2016 financial year, the Management Board is anticipating Group sales ranging between EUR 550 million and EUR 590 million. The clear increase against the previous year mainly relates to expected sales from international theatrical and TV productions. These sales are mainly determined through pre-sales at the respective production start and largely serve to secure the corresponding production costs. Based on a success of these productions, earnings contributions do not arise before the following exploitation stages or subsequent productions. Regarding the Group earnings development, it should also be noted that the 2015 financial year was one of the most successful years in the history of Constantin Film and that the realized income from the aforementioned legal dispute was a one-time effect. Against this backdrop, Constantin Medien is assuming earnings attributable to shareholders at a range between EUR 6 million and EUR 9 million for 2016. Consequently, the positive operating earnings trend from prior years would continue.
The Constantin Medien Group at a glance
Group results according to IFRS
in EUR million 2015 2014 Change in % Sales 481.6 487.8 -1.3 EBIT 40.3 21.4 +88.3 Net result 20.0 3.9 +412.8 (Earnings after taxes) Earnings attributable to shareholders 12.4 -3.3 -- Earnings per share (in Euro) 0.14 -0.04 -- Segment sales Sports 157.6 148.2 +6.3 Film 272.3 295.6 -7.9 Sports- and Event-Marketing 48.5 41.1 +18.0 Other Business Activities 3.2 2.9 +10.3 Segment earnings Sports 13.4 3.7 +262.2 Film 14.5 9.1 +59.3 Sports- and Event-Marketing 17.0 16.3 +4.3 Other Business Activities -1.3 -1.6 +18.8 in EUR million 12/31/2015 12/31/2014 Change in % Balance sheet total 540.2 424.7 +27.2 Equity 57.6 62.5 -7.8 Equity ratio (%) 10.7 14.7 -4.0 points
Contact:
Constantin Medien AG Frank Elsner Kommunikation für Unternehmen GmbH Sabine Lais Frank Elsner Director Communication Phone: +49 (0) 89 99 500 461 Phone: +49 (0) 54 04 91 92 0 Fax: +49 (0) 89 99 500 466 Fax: +49 (0) 54 04 91 92 29 sabine.lais@constantin- info@elsner-kommunikation.de medien.de
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17.03.2016 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English Company: Constantin Medien AG Münchener Straße 101 g 85737 Ismaning Germany Phone: 089 / 99500-436 Fax: 089 / 99500-433 E-mail: ir@constantin-medien.de Internet: http://www.constantin-medien.de ISIN: DE0009147207, DE000A1R07C3 WKN: 914720, A1R07C Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart End of News DGAP News Service ---------------------------------------------------------------------------
446261 17.03.2016
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