Sony Pixel Power calrec Sony

ProSiebenSat.1 Group increases full-year outlook for revenues and adjusted EBITDA following a good first quarter

12/05/2021

ProSiebenSat.1 Group increases full-year outlook for revenues and adjusted EBITDA following a good first quarter

ProSiebenSat.1 Group's revenues grew better than planned by 1% to EUR 938 million in the first quarter of 2021 despite pandemic-related lower advertising revenues.

Also the Group's adjusted EBITDA developed better than originally expected in the pandemic environment, declining by only 9% year-on-year to EUR 143 million.

In particular the strong earnings growth in the Dating and Commerce & Ventures segments largely offset the declines in the high-margin advertising business. Together with efficient cost management, this strengthened the Group's profitability.

Net financial debt was reduced by EUR 295 million compared to March 31, 2020, despite the pandemic environment.

The Group increases its full-year outlook for revenues by EUR 100 million to a target range between EUR 4.250 billion and EUR 4.450 billion and for adjusted EBITDA from between EUR 720 million and EUR 780 million to between EUR 750 million and EUR 800 million.

Unterf hring, May 12, 2021. Despite the continuing impact of the COVID-19 pandemic, ProSiebenSat.1 Group made a good start into financial year 2021: In the first quarter of 2021, the Group generated revenues of EUR 938 million - a slight increase of 1% compared to the previous year (previous year: EUR 926 million). In the first three months of the year, the ongoing diversification of the Group more than compensated for the effects of the COVID-19 pandemic on the Group's revenues after the previous-year quarter was not impacted by initial COVID-19 effects until mid-March 2020. Whereas in the first quarter of 2021 advertising revenues were down year-on-year as expected due to the pandemic, growth was generated amongst others by program production and sales as well as the distribution business in the Entertainment segment and by companies in the Commerce & Ventures segment such as the online beauty provider Flaconi, which particularly benefited from the advertising reach of the entertainment business. In addition, the Dating segment played a key role here with the integration of the US online dating company The Meet Group, which is also recording strong organic growth.

Rainer Beaujean, Chairman of the Executive Board of ProSiebenSat.1 Media SE: We are very satisfied with our start into the year 2021. Despite the continuing COVID-19 lockdown, we have achieved revenue growth in the first quarter and limited the impact on adjusted EBITDA - even though the previous-year figures were mostly not yet affected by the pandemic until mid-March 2020. This is clearly due to our increasing diversification: Particularly with our good results in the Dating and Commerce & Ventures segments, we largely compensated for the pandemic-driven declines in the advertising business.

Operating performance

ProSiebenSat.1 has been reporting in the three segments Entertainment, Dating and Commerce & Ventures since January 1, 2021. With this, Red Arrow Studios' program production and global sales business as well as the digital studio Studio71 have been integrated into the Entertainment segment. The Dating segment, which includes ParshipMeet Group, remained unchanged compared to the end of 2020. The newly created Commerce & Ventures segment has since bundled the Group's minority and majority investment areas. These include the investment arm Seven Ventures and the NuCom Group companies. In this way, the Company is becoming even more synergistic, diversified and profitable in order to generate sustainable growth in all business areas.

External revenues in the Entertainment segment amounted to EUR 610 million in the first quarter of 2021 and were thus 8% below the previous year's figure (previous year: EUR 664 million). While the ongoing pandemic-related restrictions had the expected impact on the advertising industry's investment behavior, and advertising revenues in the Entertainment segment decreased by 14%, revenues from program production and sales rose by 20%. Distribution revenues also developed dynamically and increased by 8% year-on-year, in particular due to higher numbers of HD users.

In the first quarter of 2021, the Dating segment generated external revenues of EUR 141 million and thus EUR 82 million more than in the previous-year quarter (previous year: EUR 59 million). This increase was influenced by the acquisition of The Meet Group in September 2020, which is also recording strong organic growth; organically(1), revenues of the Dating segment remained about stable. On a pro-forma basis(2), i.e. including The Meet Group's revenues for the first quarter of 2020, the segment posted a revenue increase of 36%, with the live video business of The Meet Group growing particularly dynamically in the first quarter of 2021.

In the Commerce & Ventures segment, external revenues decreased by 8% to EUR 187 million in the first quarter of 2021 (previous year: EUR 203 million), which is due to the disposal and deconsolidation of the OTC provider WindStar Medical in December 2020. Organically, however, the segment's revenues clearly grew by 10%. Despite the impact of the COVID-19 pandemic, the online beauty provider Flaconi in particular continued its positive revenue development with significant growth and more than compensated for the negative effects that the lockdown measures are still having on individual portfolio companies such as the car rental comparison portal Billiger Mietwagen (SilverTours) and the experience and leisure business of Jochen Schweizer mydays.

The Group's adjusted EBITDA decreased by only 9% or EUR 14 million year-on-year to EUR 143 million in the first quarter of 2021 (previous year: EUR 157 million) and thus less than originally expected. While the revenue decline in the high-margin advertising busin
LINK: https://en.prosiebensat1.com/en/press/prosiebensat-1-group-increases-f...
See more stories from prosie

More from ProsiebenSat.1

19/12/2023

ProSiebenSat.1 increases investments in local content and at the same time expects stable earnings next year

ProSiebenSat.1 increases investments in local content and at the same time expec...

20/11/2023

SevenVentures invests in sustainable online food retailer Matsmart-Motatos

SevenVentures invests in sustainable online food retailer Matsmart-Motatos Unterf hring, November 20, 2023. SevenVentures, the investment arm of ProSiebenSat....

14/11/2023

ProSiebenSat.1 achieves adjusted EBITDA plus in the third quarter of 2023 despite difficult market environment

ProSiebenSat.1 achieves adjusted EBITDA plus in the third quarter of 2023 despit...

23/10/2023

SevenAccelerator invests in nucao

SevenAccelerator invests in nucao Unterf hring, 23.10.2023 - SevenAccelerator takes a stake in the nu company GmbH, the company behind the successful chocolat...

19/10/2023

Seven.One Entertainment Group restructures management and responsibilities for channels and platforms

Seven.One Entertainment Group restructures management and responsibilities for c...

19/10/2023

Katharina Frmsdorf becomes CEO of Joyn

Katharina Fr msdorf becomes CEO of Joyn Unterf hring, October 19, 2023. As part of the strategic realignment of the Seven.One Entertainment Group, the streami...

03/08/2023

ProSiebenSat.1 closes second quarter 2023 in line with expectations

ProSiebenSat.1 closes second quarter 2023 in line with expectations Group revenues as announced below previous year: Due to the continuing economic weakness i...

25/07/2023

Nach 25 Jahren bei ProSiebenSat.1: Thomas Wagner bergibt an Carsten Schwecke

Nach 25 Jahren bei ProSiebenSat.1: Thomas Wagner bergibt an Carsten Schwecke Unterf hring, July 25, 2023. Carsten Schwecke (47) will become Head of Sales at ...

18/07/2023

ProSiebenSat.1 aligns organization with Group's growth strategy

ProSiebenSat.1 aligns organization with Groups growth strategy Unterf hring, July 18, 2023. ProSiebenSat.1 Group is taking the next step in its realignment: A...

30/06/2023

ProSiebenSat.1 Annual General Meeting elects new Supervisory Board

ProSiebenSat.1 Annual General Meeting elects new Supervisory Board Annual General Meeting follows recommendation to elect Katharina Behrends, Dr. Katrin Burkh...

22/06/2023

SevenVentures invests in food tech company Next Gen Foods and its brand TiNDLE

SevenVentures invests in food tech company Next Gen Foods and its brand TiNDLE SevenVentures becomes strategic media partner of the food-tech start-up Next Ge...

16/06/2023

Change in the Supervisory Board of ProSiebenSat.1: Klara Brachtlova to succeed Erik Huggers

Change in the Supervisory Board of ProSiebenSat.1: Klara Brachtlova to succeed E...

12/06/2023

ProSiebenSat.1 reorganizes Executive Board / Wolfgang Link leaves the Company

ProSiebenSat.1 reorganizes Executive Board / Wolfgang Link leaves the Company Unterf hring, June 12, 2023. Wolfgang Link, former Chief Entertainment Officer a...

26/05/2023

ProSiebenSat.1 starts 2023 as expected and confirms full-year outlook

ProSiebenSat.1 starts 2023 as expected and confirms full-year outlook Group revenues in the first quarter as announced below previous year: Group revenues are...

24/05/2023

ProSiebenSat.1 invites to the Annual General Meeting of Shareholders on June 30, 2023

ProSiebenSat.1 invites to the Annual General Meeting of Shareholders on June 30,...

27/04/2023

ProSiebenSat.1 closes financial year 2022 in line with expectations and assumes slight organic revenue growth in 2023

ProSiebenSat.1 closes financial year 2022 in line with expectations and assumes ...

27/04/2023

Change on the Executive Board of ProSiebenSat.1 Media SE

Change on the Executive Board of ProSiebenSat.1 Media SE Unterf hring, April 27, 2023. The Supervisory Board of ProSiebenSat.1 Media SE today decided on a cha...

20/04/2023

SevenVentures invests in emerging food start-up KoRo

SevenVentures invests in emerging food start-up KoRo Unterf hring, April 20, 2023 - SevenVentures, the investment arm of ProSiebenSat.1 and part of the Groups...

28/03/2023

ProSiebenSat.1 strengthens focus on Entertainment business

ProSiebenSat.1 strengthens focus on Entertainment business Strengthening the leading position in the German-speaking entertainment market: ProSiebenSat.1 plac...

23/03/2023

ParshipMeet Group reorganizes businesses under new leadership structure

ParshipMeet Group reorganizes businesses under new leadership structure Integrated approach to set up the company for future growth New leadership structure:...

01/12/2022

ProSiebenSat.1 prepays promissory notes in the amount of EUR 275 million from available cash

ProSiebenSat.1 prepays promissory notes in the amount of EUR 275 million from av...

15/11/2022

ProSiebenSat.1 generates revenues of almost EUR 3 billion in the first nine months of 2022 despite market slowdown

ProSiebenSat.1 generates revenues of almost EUR 3 billion in the first nine mont...

09/11/2022

ProSiebenSat.1 establishes Seven.One Studios: New umbrella brand unites eight production subsidiaries and global program distribution arm

ProSiebenSat.1 establishes Seven.One Studios: New umbrella brand unites eight pr...

27/10/2022

ProSiebenSat.1 updates full-year outlook 2022 due to development of the macroeconomic environment

ProSiebenSat.1 updates full-year outlook 2022 due to development of the macroeco...

03/10/2022

Change in the chair of the Executive Board of ProSiebenSat.1

Change in the chair of the Executive Board of ProSiebenSat.1 Bert Habets to become new chairperson of the Executive Board (Group CEO) of ProSiebenSat.1 Media ...

15/09/2022

Redseven Entertainment wins German TV Award for "Don't Stop the Music"

Redseven Entertainment wins German TV Award for "Dont Stop the Music" Munich, September 15, 2022. Redseven Entertainment, a Red Arrow Studios company, was awa...

13/09/2022

ProSiebenSat.1 acquires 100% of the shares in streaming platform Joyn

ProSiebenSat.1 acquires 100% of the shares in streaming platform Joyn Joyn becomes the centerpiece of the digital entertainment presence Expansion of Joyn in...

01/08/2022

Seven.One Entertainment Group and RTL Deutschland plan technology joint venture

Seven.One Entertainment Group and RTL Deutschland plan technology joint venture Unterf hring, August 1st, 2022. Seven.One Entertainment Group and RTL Deutschl...

06/07/2022

ProSiebenSat.1 sells Red Arrow Studios' US production business to Peter Chernin's The North Road Company

ProSiebenSat.1 sells Red Arrow Studios' US production business to Peter Cher...

30/05/2022

ProSiebenSat.1 extends its Senior Facilities Agreement

ProSiebenSat.1 extends its Senior Facilities Agreement Unterf hring, May 30, 2022. ProSiebenSat.1 Group has extended the tenors for its term loan and revolvin...

12/05/2022

ProSiebenSat.1 confirms full-year outlook for 2022

ProSiebenSat.1 confirms full-year outlook for 2022 Results in the first quarter of 2022 in line with the Group's expectations: Synergistic business model ...

05/05/2022

ProSiebenSat.1 Annual General Meeting elects Supervisory Board members - Dr. Andreas Wiele new Chairman of the Supervisory Board

ProSiebenSat.1 Annual General Meeting elects Supervisory Board members - Dr. And...

07/04/2022

SevenVentures invests in Grover: Series C financing round makes German company a unicorn

SevenVentures invests in Grover: Series C financing round makes German company a...

28/03/2022

ProSiebenSat.1 invites to the virtual Annual General Meeting of shareholders on May 5, 2022

ProSiebenSat.1 invites to the virtual Annual General Meeting of shareholders on ...

03/03/2022

ProSiebenSat.1 closes 2021 with revenue growth of 11%; adjusted EBITDA increases by a considerable 19%

ProSiebenSat.1 closes 2021 with revenue growth of 11%; adjusted EBITDA increases...

23/12/2021

Court decision paves way for regional advertising on national TV channels

Court decision paves way for regional advertising on national TV channels Unterf hring, December 23, 2021. Today, the Stuttgart Regional Court implemented a r...

06/12/2021

Dr. Andreas Wiele to become Chairman of the Supervisory Board

Dr. Andreas Wiele to become Chairman of the Supervisory Board Chairman of the Supervisory Board Dr. Werner Brandt will not stand for re-election after two ele...

06/12/2021

Ad-Hoc-Disclosure according to Article 17 MAR (EU) Nr 596/2014: Dr. Andreas Wiele to become Chairman of the Supervisory Board

Ad-Hoc-Disclosure according to Article 17 MAR (EU) Nr 596/2014: Dr. Andreas Wiel...

24/11/2021

Redseven Entertainment's first original drama, "Friedmanns Vier", airs on RTL+

Redseven Entertainment's first original drama, "Friedmanns Vier", airs on RT...

16/11/2021

Red Arrow Studios sells US film distribution house Gravitas Ventures to Anthem Sports & Entertainment, Inc.

Red Arrow Studios sells US film distribution house Gravitas Ventures to Anthem S...

04/11/2021

ProSiebenSat.1 again raises full-year outlook 2021 after strong third quarter

ProSiebenSat.1 again raises full-year outlook 2021 after strong third quarter Revenues grow strongly by 15% to EUR 1,055 million in the third quarter of 2021,...

03/11/2021

MEDIA ACTIVITY GUIDE 2021: MEDIA CONSUMPTION REACHES NEW HIGH FOR THE SECOND YEAR IN A ROW

MEDIA ACTIVITY GUIDE 2021: MEDIA CONSUMPTION REACHES NEW HIGH FOR THE SECOND YEA...

08/10/2021

ProSiebenSat.1 uses proceeds of new EUR 700 million Schuldscheindarlehen for a EUR 900 million prepayment of Term Loans

ProSiebenSat.1 uses proceeds of new EUR 700 million Schuldscheindarlehen for a E...

07/10/2021

Redseven Entertainment expands production expertise: Jan Rasmus heads new Journalism, Documentary & Reportage unit

Redseven Entertainment expands production expertise: Jan Rasmus heads new Journa...

01/10/2021

NuCom Group sells Amorelie to EQOM Group

NuCom Group sells Amorelie to EQOM Group Unterf hring, October 1, 2021. The ProSiebenSat.1 subsidiary NuCom Group, in which General Atlantic holds a 28.4% sta...

05/08/2021

ProSiebenSat.1 posts record revenues in Q2 2021, adjusted EBITDA increases more than sevenfold

ProSiebenSat.1 posts record revenues in Q2 2021, adjusted EBITDA increases more ...

19/07/2021

ProSiebenSat.1 Group increases full-year outlook based on strong revenue and adjusted EBITDA growth in the second quarter of 2021

ProSiebenSat.1 Group increases full-year outlook based on strong revenue and adj...