ProSiebenSat.1 revenues grow 13%, net profit up 10%

ProSiebenSat.1 Group reports revenues of EUR 910 million in the first quarter of 2017, 13 percent higher than Q1 2016. At the same time, the adjusted EBITDA grew by 10 percent to EUR 188 million, while adjusted net profit rose by 10 percent to EUR 88 million. The Digital Ventures & Commerce segment substantially contributed to this growth. The segment is growing organically and is benefiting from recent acquisitions. Organic growth of the two digital segments combined amounted to 14 percent. In total, ProSiebenSat.1 already generated 50 percent of its revenues outside the TV advertising business as of the end of the quarter (previous year: 43 %) and has already achieved about 70 percent of its medium-term revenue growth target for the end of 2018. 

External German-speaking broadcast revenues increased by 2 percent to EUR 502 million driven by increased distribution revenues. As expected, TV advertising revenues were stable and thus developed slightly above market. The adjusted EBITDA increased by 4 percent to EUR 137 million. Online video was the most important revenue driver for ProsiebenSat.1’s digital entertainment segment was once again the online video business, while other revenues declined. The deconsolidation of the games business at the end of the second quarter of 2016 also affected the segment growth rate. In this context, external revenues increased by 2 percent overall to EUR 97 million and the adjusted EBITDA decreased to minus EUR 2 million. The external revenues in the Digital Ventures & Commerce segment grew by 53 percent to EUR 229 million driven by acquisitions. Adjusted EBITDA increased by 26 percent in total to EUR 47 million (previous year: EUR 37 million).