DGAP-News: Ströer SE & Co. KGaA: Ströer continues on a successful course in the third quarter and expects more profitable growth in 2018

Nachricht vom 10.11.2017 (www.4investors.de) -


DGAP-News: Ströer SE & Co. KGaA / Key word(s): Quarterly / Interim Statement/9-month figures

Ströer SE & Co. KGaA: Ströer continues on a successful course in the third quarter and expects more profitable growth in 2018 (news with additional features)
10.11.2017 / 07:16


The issuer is solely responsible for the content of this announcement.
PRESS RELEASE

Ströer continues on a successful course in the third quarter and expects more profitable growth in 2018

- Ströer anticipating consolidated revenue of EUR 1.5b and operational EBITDA of EUR 370m for 2018

- Consolidated revenue increases by 19% from EUR 766m to EUR 910m in the first three quarters of 2017

- Operational EBITDA increases by 18% from EUR 178m to EUR 209m in the first nine months of 2017

- Ströer widens its financial leeway with a note loan for EUR 350m


Cologne, 10 November 2017 Ströer SE & Co. KGaA performed very well again in the third quarter of 2017 and is continuing on its road to long-term success. Revenue climbed 19% from EUR 766m to EUR 910m in the first nine months and increased organic growth of 8.5%. Operational EBITDA grew by a substantial 18% in the first three quarters of 2017, up from EUR 178m to EUR 209m. Adjusted profit for the period developed positively, up 20% from EUR 89m to EUR 107m. At the same time, the leverage ratio rose slightly from 1.5 in the prior-year period to 1.7 in the third quarter of 2017.

Ströer also successfully placed a note loan with terms of up to seven years and both fixed and variable interest on a broad base of German and international investors. Strong investor demand resulted in an increase of the originally planned volume of EUR 150m to EUR 350m. The proceeds will be used for the Group's general financing requirements and to repay the syndicated bank loan. By taking this step, Ströer has taken advantage of the favorable conditions on the capital market and has optimized its own maturity structure and further diversified its investor base.

"Ströer's performance has been excellent in the first nine months. We have posted strong increases in revenue and earnings. All segments contributed to this positive development," says Udo Müller, founder and Co-CEO of Ströer. "After a very strong third quarter, we expect a good performance for the rest of the year," adds Christian Schmalzl, Co-CEO of Ströer. "We also anticipate more profitable growth in 2018: we are projecting consolidated revenue of EUR 1.5b, organic revenue growth of 5% to 10% and operational EBITDA of EUR 370m. These figures are further indication that we are on the right track in terms of our strategy."

Operating segmentsStröer Digital
The Ströer Digital segment increased its revenue by 41% from EUR 333m to EUR 469m in the first nine months of 2017 with organic growth of 11.9%. Investments in digital business models (e.g., subscription and e-commerce models) also contributed to the strong revenue growth. The revenue included in the third quarter for the first time from our new dialog marketing business was allocated to this segment. Furthermore, the expansion of our sales operations for local digital solutions geared to small and medium-sized companies also significantly boosted growth.
Operational EBITDA also developed very well and soared 30% from EUR 90m to EUR 117m.
As Ströer is continually adding to and expanding its business, the segment figures can only be compared with those of the prior year to a limited extent. The integration and targeted restructuring of the newly acquired companies was driven forward in the reporting period and we are frequently able to leverage synergies and economies of scale on both the revenue and cost side.

Out-of-Home Germany

The OOH Germany segment reported a sharp rise in revenue once again in the third quarter of 2017, with business with both national as well as regional customers contributing to this positive development.
The segment reported organic revenue growth of 7%, up from EUR 353m to EUR 377m in the first three quarters. Operational EBITDA grew even more strongly, rising by 11% from EUR 91m to EUR 101m.

Out-of-Home International

The OOH International segment includes the Turkish and Polish out-of-home activities and the western European giant poster business of the BlowUP group.
Revenue in the OOH International segment in the first three quarters of 2017 remained shaped by the tense political situation and the unfavorable macroeconomic conditions in Turkey. The Turkish advertising market has come under pressure, and the Turkish lira's losses have also deepened compared to the prior year. Both effects had an adverse impact on revenue shown in euro terms. The BlowUP Group successfully expanded its business activities in the first nine months of this year achieving significant growth.
Overall, due to the significant burdens associated with the Turkish business, the segment reported a 14% decline in revenue from EUR 98m to EUR 85m. Operational EBITDA decreased accordingly, down from EUR 12m to EUR 9m.

The Group's financial figures at a glance

In EUR m
 
 
Q3 2017
Q3 2016
 
 
9M 2017
9M 2016
 
 
 
 
 
 
 
 
 
Revenue
 
 
312,1
263,3
 
 
909,5
765,7
Operational EBITDA
 
 
73,0
62,4
 
 
208,9
177,8
Adjustment effects
 
 
5,5
5,4
 
 
16,3
16,3
IFRS 11 adjustment
 
 
1,2
1,0
 
 
3,6
3,1
EBITDA
 
 
66,4
56,0
 
 
189,1
158,4
Amortization, depreciation and
impairment losses
 
 
41,0
41,8
 
 
121,7
110,2
thereof attributale to purchase price allocations and impairment losses
 
 
14,3
16,2
 
 
47,3
46,9
EBIT
 
 
25,3
14,2
 
 
67,4
48,2
Financial result
 
 
2,5
2,5
 
 
6,1
7,5
EBT
 
 
22,8
11,7
 
 
61,3
40,6
Income taxes
 
 
3,6
1,3
 
 
8,5
4,4
Consolidated profit for the period
 
 
19,2
10,4
 
 
52,7
36,2
Adjusted consolidated profit for the period
 
37,0
28,0
 
 
107,1
89,3
 
 
 
 
 
 
 
 
 
Free cash flow (before M&A transactions)
 
 
 
 
 
 
40,3
52,4
Net debt
 
 
 
 
 
 
541,2
405,3
Leverage ratio
 
 
 
 
 
 
1,72
1,53
About Ströer

Ströer SE & Co. KGaA is a leading digital multi-channel media company and offers advertising customers individualized and fully integrated, end-to-end solutions along the entire marketing and sales value chain. In the field of digital media, Ströer is setting forward-looking standards for innovation and quality in Europe and is opening up new opportunities for targeted customer contact for its advertisers. Ströer also offers its customers comprehensive performance-based sales solutions with its own dialog marketing segment. In digital publishing, the Company publishes premium content across all digital channels, offering one of Germany's widest reaching networks with its t-online.de and special interest sites.

The Ströer Group commercializes and operates several thousand websites in German-speaking countries in particular and operates approximately 300,000 advertising media in the out-of-home segment. It has approximately 8,000 employees at over 70 locations. In fiscal year 2016, Ströer generated revenue of EUR 1.12b. Ströer SE & Co. KGaA is listed in Deutsche Börse's MDAX.

For more information on the Company, please visit www.stroeer.com.

Press contact Ströer
Marc Sausen
Ströer SE & Co. KGaA
Director Corporate Communications
Ströer-Allee 1 | D-50999 Cologne
Telephone: +49 (0)2236 - 96 45-246
Fax: +49 (0)2236 - 96 45-6246
E-Mail: info@stroeer.deInvestor Relations contact Ströer
Dr. Bernd Metzner
Ströer SE & Co. KGaA
CFO
Ströer-Allee 1 | D-50999 Cologne
Phone: +49 (0)2236 / 96 45-118
E-Mail: BMetzner@stroeer.de
 

Disclaimer

This press release contains "forward looking statements" regarding Ströer SE & Co. KGaA ("Ströer") or the Ströer Group, including opinions, estimates and projections regarding Ströer's or the Ströer Group's financial position, business strategy, plans and objectives of management and future operations. Such forward looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of Ströer or the Ströer Group to be materially different from future results, performance or achievements expressed or implied by such forward looking statements. These forward looking statements speak only as of the date of this press release and are based on numerous assumptions which may or may not prove to be correct. No representation or warranty, express or implied, is made by Ströer with respect to the fairness, completeness, correctness, reasonableness or accuracy of any information and opinions contained herein. The information in this press release is subject to change without notice, it may be incomplete or condensed, and it may not contain all material information concerning Ströer or the Ströer Group. Ströer undertakes no obligation to publicly update or revise any forward looking statements or other information stated herein, whether as a result of new information, future events or otherwise.


Additional features:Document: http://n.eqs.com/c/fncls.ssp?u=USXYIQUVFODocument title: Press Release Q3/17 Ströer SE & Co. KGaA
10.11.2017 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. Archive at www.dgap.de

Language:
English
Company:
Ströer SE & Co. KGaA

Ströer Allee 1

50999 Köln


Germany
Phone:
+49 (0)2236.96 45 0
Fax:
+49 (0)2236.96 45 299
E-mail:
info@stroeer.com
Internet:
www.stroeer.de
ISIN:
DE0007493991
WKN:
749399
Indices:
MDAX
Listed:
Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange

 
End of News
DGAP News Service




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