ProSiebenSat. Continues Profitable Revenue and Earnings Grow in the Second Quarter of 06

ProSiebenSat.1 Continues Profitable Revenue and Earnings Growth in the Second Quarter of 2016

Revenues increase by 15 % to EUR 886 million in the second quarter

Rec. EBITDA rises by 7 % to EUR 254 million

Underlying net income grows by 8 % to EUR 133 million

Large acquisitions Verivox and etraveli with strong growth

Group confirms positive full-year outlook

Munich, August 4, 2016. ProSiebenSat.1 Group remains on its growth course. In the second quarter of 2016, the Group again increased its revenues by double digits - by 15 % to EUR 886 million (previous year: EUR 772 million). All segments contributed to this with profitable revenue growth. Recurring EBITDA grew by 7 % to EUR 254 million (previous year: EUR 238 million). Underlying net income increased by 8 % to EUR 133 million (previous year: EUR 122 million).

The Group also performed dynamically over the first half of the year. Revenues rose by 18 % to EUR 1,688 million (previous year: EUR 1,427 million). EBITDA adjusted for non-recurring items (recurring EBITDA) increased by 9 % to EUR 424 million (previous year: EUR 390 million). Underlying net income rose by 7 % to EUR 207 million (previous year: EUR 193 million). Therefore, ProSiebenSat.1 already generated 44 % of its revenues outside the TV advertising business (previous year: 35 %). This share is expected to grow to around 50 % by the end of 2018.

Thomas Ebeling, CEO of ProSiebenSat.1 Media SE: We increased revenues by 15 percent in the second quarter and thus successfully continued our growth course. At the same time, all segments grew profitably. We are also optimistic for the second half of the year. The forecasts for the labor market remain positive; consumer confidence is still strong. We also benefit from the fact that we have consistently expanded our Group's business via a successful diversification and M&A strategy in recent years. This is increasingly paying off. Especially Verivox and etraveli, our largest acquisitions so far, made an attractive growth contribution in the first half of the year.

Broadcasting German-speaking: Group Remains Leader in the German TV Advertising Market

The Group continued its profitable growth in the Broadcasting German-speaking segment. In the second quarter of 2016, external revenues increased by 1 % to EUR 541 million (previous year: EUR 535 million). Recurring EBITDA grew by 2 % to EUR 201 million (previous year: EUR 197 million). In the first half of the year, external revenues rose by 3 % to EUR 1,034 million (previous year: EUR 1,005 million). Recurring EBITDA likewise moved up by 3 % to EUR 332 million (previous year: EUR 323 million).

The first half of the year was characterized by seasonal effects such as the early Easter date and the European soccer championship. In this environment, ProSiebenSat.1 Group achieved an audience share of 28.0 % with its German stations in the first half of the year (previous year: 29.3 %). With a gross share of 42.4 % (previous year: 44.0 %), the Group also retained its lead in the TV advertising market. At the same time, the distribution business again saw substantial growth: The number of HD subscribers rose to 6.7 million by June 30, 2016 (previous year: 5.7 million). By 2018, the Group expects an increase to around 9 million HD subscribers.

Digital & Adjacent: Revenues and Earnings Grow by Double Digits

The Group continued to post dynamic growth in the Digital & Adjacent segment in both periods. In the second quarter of 2016, external revenues increased by 43 % to EUR 263 million (previous year: EUR 184 million). Recurring EBITDA rose by 15 % to EUR 43 million (previous year: EUR 37 million). Over the first half of the year, revenues grew by 57 % to EUR 504 million (previous year: EUR 322 million). Recurring EBITDA increased by 21 % to EUR 78 million (previous year: EUR 64 million).

The Ventures & Commerce business was the strongest revenue driver both in the second quarter of 2016 and over the first half of the year. The acquisition of the commerce platforms etraveli and Verivox as well as of the multi-channel network CDS (now Studio71), which is part of the Digital Entertainment unit, resulted in large consolidation effects. At the same time, the investments accelerated their growth within the Group after being purchased. etraveli and Verivox have been consolidated since December and August 2015 respectively, CDS since August 2015. The ad-tech business also contributed to the revenue increase. Organic growth was largely driven by the digital entertainment offerings such as the pay-video-on-demand platform maxdome. In contrast, revenues from the Adjacent business and the online games business, which was sold in June 2016, were below the previous year.

In recent weeks, the Group has continued to successfully expand its digital portfolio. ProSiebenSat.1 increased its share in Stylight GmbH to 100 % as of July 1, 2016, strengthening its commerce vertical Beauty & Accessories . For maxdome, the Group has agreed a cooperation with Deutsche Bahn. At the end of the year, the video-on-demand portal will be integrated into Deutsche Bahn's ICE portal as exclusive partner, offering travelers attractive entertainment with series and films. This will significantly increase maxdome's reach as around 80 million people in Germany travel with the ICE trains every year.

Content Production & Global Sales: US Business Drives Red Arrow's Strong Revenue and Earnings Performance

The Group is also continuing its extraordinarily positive development in the Content Production & Global Sales segment. In the second quarter of 2016, external revenues increased by 42 % to EUR 77 million (previous year: EUR 54 million). Recurring EBITDA rose to EUR 10 million (previous year: EUR 4 million). The segment also posted high growth rates over the first half of the year. External revenues grew by 4

LINK:	http://en.prosiebensat1.com/en/press/prosiebensat-1-continues-profitab...
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