German media company ProSiebenSat.1 Group increased its revenues by 3% to €883 million in Q3 2017 (previous year: €857 million).
Adjusted EBITDA remained at €202 million while adjusted net income recorded a slight increase of 1% to €99 million (previous year: €98 million).
The group’s core business of TV advertising revenues in Q3 2017 were in line with the adjusted expectations in August 2017 and below the previous year’s level. At the same time, ProSiebenSat.1 continued its growth outside the TV advertising business, with the distribution business, multi-channel network Studio71 and the ad-tech area all making strong contributions to revenue growth.
In the first six weeks of Q4 2017, the group’s TV advertising business developed positively and has grown by a mid-single digit percentage compared to the previous year.
The content production & global sales segment, however, is expected to record a double-digit percentage decrease in revenues in the fourth quarter compared to the previous year’s period. The main reasons for this development are strong comparison figures as well as shifts of some productions to next year, according to ProSiebenSat.1.
In combination with a planned increase in programming costs in the broadcasting German-speaking segment in the fourth quarter, ProSiebenSat.1 currently expects that both adjusted EBITDA (Q4 2016: €392 million) and adjusted net income (Q4 2016: €226 million) will be below the previous year’s figures in the fourth quarter.
Therefore, ProSiebenSat.1 adjusts its financial outlook for the full year 2017 and now anticipates group revenues to grow by a mid-single digit percentage range (2016: €3,799 million). Previously, ProSiebenSat.1 expected an increase at least at a high-single digit percentage.
