ProSiebenSat.1 confirms preliminary Q1 figures published on April 22, 2020

07/05/2020

ProSiebenSat.1 confirms preliminary Q1 figures published on April 22, 2020

Group revenues in the first quarter of 2020 with slight growth of 1% to EUR 926 million; revenues in the non-TV core advertising business account for 52% of Group revenues

Good Group performance until mid-March, then first effects of COVID-19 crisis visible

SevenOne Entertainment Group's revenues decline by 3%, Red Arrow Studios with stable revenues, NuCom Group grows significantly by 15%

Adjusted EBITDA decreases from EUR 190 million to EUR 157 million; adjusted net income from EUR 94 million to EUR 58 million

Solid liquidity position: EUR 898 million cash on balance sheet as per March 31, 2020; in addition, EUR 350 million RCF drawn beginning of April; remaining part of RCF with EUR 400 million available at any time, covenant-free debt documentation

Outlook: COVID-19 pandemic with significant impact on the business across all segments; reliable outlook for the second quarter and the full-year currently not possible; Group already withdrew financial outlook for 2020 on April 22, 2020

Unterfoehring, May 7, 2020. ProSiebenSat.1 confirms the preliminary figures for the first quarter of 2020, which were already published on April 22, 2020: The first quarter was seeing a satisfying performance for ProSiebenSat.1 Group, until the COVID-19 related restrictions on public and economic life began to make first impacts from mid-March on. Overall, the Group closed the quarter with a slight revenue increase of 1% to EUR 926 million (previous year: EUR 913 million). Organically (1), revenues declined marginally by 1%. The non-TV core advertising business accounted for 52% of Group revenues in the first quarter of the year (previous year: 48%); the digital share of Group revenues was 35% (previous year: 30%).

Rainer Beaujean, Chairman of the Executive Board & Chief Financial Officer of ProSiebenSat.1 Media SE: Until Germany's coronavirus related restrictions started, we were performing well in the first quarter. Since then, we have been seeing impacts of the pandemic in many of our businesses. We are therefore systematically addressing all non-business critical costs and setting up ProSiebenSat.1 securely for the future also thanks to a stable liquidity. In this extraordinary situation, special thanks go to our employees, who are creating new programs and advertising ideas and are adapting our productions as well as NuCom Group's services and products to the constantly changing circumstances with impressive creativity, dedication and pragmatism. I am very confident that we will thus navigate ProSiebenSat.1 well through this crisis together.

In the SevenOne Entertainment Group (formerly: Entertainment) segment, external revenues decreased by 3% to EUR 563 million (previous year: EUR 579 million). Organically, external revenues likewise declined by 3%. This reflects in particular the 4% decline in total advertising revenues, after the first advertising bookings were canceled in March as a result of COVID-19 in an already challenging market environment. In contrast, the digital and smart advertising business continued to grow dynamically in this environment, increasing by 32%. The distribution business also developed positively again.

As a system relevant media company, ProSiebenSat.1 is assuming more than ever the Group's social responsibility to provide viewers with regular, relevant and reliable information. Across all channels and platforms, the Group has therefore offered daily news updates in the station's news and magazines as well as in special programming since the start of the coronavirus pandemic. At the same time, ProSiebenSat.1 is fulfilling the viewers' need for distraction, which has grown considerably in the current situation, with the stations' numerous entertainment programs. Since mid-March, the Group has seen an increase in viewing time both linear and digital: In March, Total Video Viewtime, i.e. the total number of minutes viewed on all of the Group's linear channels and digital entertainment platforms, rose by 16% compared to the previous month, and unique users of the streaming platform Joyn grew by 12% compared with February 2020 to around 4 million.

The impact of COVID-19 related governmental restrictions were also already visible in the Red Arrow Studios (formerly: Content Production & Global Sales) segment. External revenues were on a par with the previous year at EUR 134 million (previous year: EUR 135 million). Organically, thus adjusted for currency effects, revenues declined by 3%. The US production business in particular was affected by order delays and cancellations in March, which was however offset by the strong growth of digital studio Studio71.

The NuCom Group (formerly: Commerce) segment grew significantly by 15% in the first quarter, generating external revenues of EUR 228 million (previous year: EUR 199 million). Organic growth was 8%. While the initial consolidation of Aroundhome, an online broker for products and services related to the home, had a positive impact on reported revenues, online matchmaking business of Parship Group with eharmony, online beauty provider Flaconi, and Windstar Medical's OTC business saw considerable organic growth. At the same time, however, the initial impact of the near-global travel restrictions and lockdown measures was already strongly visible especially in the business of the portfolio companies Billiger Mietwagen (Silvertours) and Jochen Schweizer mydays.

The Group's adjusted EBITDA decreased by 17% to EUR 157 million in the first quarter (previous year: EUR 190 million), in particular due to the lower revenues in the TV advertising business and the segments' different earnings structures, as the Group primarily grew in lower-margin businesses and against that recorded a decline in its high-margi

LINK:	https://en.prosiebensat1.com/en/press/prosiebensat-1-confirms-prelimin...
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ProSiebenSat.1 confirms preliminary Q1 figures published on April 22, 2020

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