DGAP-News: Constantin Medien AG: Constantin Medien in 3rd quarter: Key figures show clear improvement

PRESS RELEASE

Constantin Medien in 3rd quarter: Key figures show clear improvement
 

- Strong improvement in Group earnings attributable to shareholders reflects significant progress in profit from operations (EBIT) and financial result

- Improved EBIT in Segment Sports in particular due to growth in the digital area

- Balanced financial result achieved

- Group forecast for 2018 financial year confirmed

Ismaning, November 14, 2018 - The Constantin Medien Group has achieved a significant improvement in its key figures in the third quarter of 2018: Thanks to a significantly higher profit from operations (EBIT) and financial result, the Group earnings attributable to shareholders have developed significantly better compared to the prior-year quarter. The EBIT increase in the Segment Sports was in large part influenced by the growth in the digital area. Constantin Medien AG also reported a balanced financial result in Q3 2018.
 

Key figures of the Group Q3 2018

- Sales in Q3 2018 totaling EUR 24.1 million fell slightly by 4 percent year-on-year (Q3 2017: EUR 25.1 million), as a result of lower TV advertising revenues due to the loss of the rights to the UEFA Europa League. Overall, sales in Q3 2018 were slightly below expectations.

- Profit from operations in the Segment Sports in Q3 2018 improved by EUR 0.9 million year-on-year to EUR -1.8 million, due especially to growth in the digital area.

- Group profit from operations (EBIT) came to EUR -1.4 million, after EUR -6.3 million in Q3 2017. This showed a clear improvement, due especially to lower personnel costs and lower expenses for licenses. This was offset by high legal and consulting costs, which continued to be higher than planned - among other things in connection with the assertion of claims against former executive bodies, which the company feels obliged to pursue.

- The balanced financial result in Q3 2018 reflects a significant increase of EUR 5.4 million year-on-year, which in particular was still affected by the interest charges for the 2013/2018 corporate bond repaid in April 2018.

- Group earnings attributable to shareholders in Q3 2018 rose EUR 10.3 million to EUR -1.6 million, reflecting the clear improvement in both the profit from operations (EBIT) and the financial result.

- The financial goals for the full year 2018 are confirmed, despite the ongoing burden of high legal and consulting costs.

The 9-month Group earnings attributable to shareholders in 2018 amounted to EUR -8.1 million and thus improved by EUR 8.0 million year-on-year. In 2017, without factoring in extraordinary effects, the figure was EUR -16.1 million. The improvement compared to the prior year period was achieved despite the fact that PLAZAMEDIA's profit from operations in the first nine months of 2018 fell by EUR 5.1 million due to the expiry of the Sky contract on June 30, 2017.

Olaf Schröder, CEO of Constantin Medien AG: "In the past months we have set the course for our operating business in several key areas: Strengthening the positioning of SPORT1 as the leading 360 sports platform in the German-speaking region is producing positive developments in the digital area. We have also invested further in the production infrastructure of PLAZAMEDIA. With the acquisition of sports consulting agency Match IQ, we are extending our range of service beyond the entire value chain in the sports media area to include the creation, organization, mediatization and marketing of events - creating new, innovative sources of income."
 

Outlook for the 2018 financial year

The Management Board of Constantin Medien AG confirms its present Group forecast for the 2018 financial year - particularly as the fourth quarter is regularly the strongest. Currently it is still anticipating Group sales of between EUR 110 million and EUR 130 million, and Group earnings attributable to shareholders of between EUR -1.5 million and EUR -4.5 million.

The Quarterly Statement of Constantin Medien AG for Q3 2018 is available on the company's website (www.constantin-medien.de).
Contact:
Contact PR:
Constantin Medien AG, Michael Röhrig, Tel.: +49 (0) 89 99 500 461, Fax: +49 (0) 89 99 500 466, email: michael.roehrig@constantin-medien.de

NewMark Finanzkommunikation GmbH, Dr Charlotte Brigitte Looß, Tel.: +49 (0) 69 94 41 80 63, E-Mail: constantinmedien@newmark.de

Contact IR:
Constantin Medien AG, Stéphane Winzenried, Tel.: +49 (0)89 99 500 803, Fax: +49 (0)89 99 500 371, email: ir@constantin-medien.de

Constantin Medien AG, Münchener Straße 101g, 85737 Ismaning, Tel.: +49 (0)89 99 500 0, Fax: +49 (0)89 99 500 111