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ProSiebenSat.1 Group closes 2020 with strong fourth quarter: Growth of 11% in revenues and 12% in adjusted EBITDA

04/03/2021

ProSiebenSat.1 Group closes 2020 with strong fourth quarter: Growth of 11% in revenues and 12% in adjusted EBITDA

2020 results

Revenue increase in the fourth quarter driven by growth in all segments

Group revenues for the full-year with EUR 4.047 billion only slightly below previous year; Group closes 2020 with adjusted EBITDA of EUR 706 million and adjusted net income of EUR 221 million

Net financial debt reduces from EUR 2.245 billion to EUR 1.968 billion

Executive Board and Supervisory Board propose dividend of EUR 0.49 per share

2021 outlook

ProSiebenSat.1 focuses even more strongly on synergies as well as on profitable growth and from now on reports in the segments Entertainment, Dating and Commerce & Ventures

Full-year outlook: ProSiebenSat.1 targets revenue growth to between EUR 4.150 billion and EUR 4.350 billion and an increase in adjusted EBITDA to between EUR 720 million and EUR 780 million, depending in particular on the development of advertising revenues in the region of Germany, Austria and Switzerland in the context of the further course of the COVID-19 pandemic

Unterf hring, March 4, 2021. ProSiebenSat.1 Group closed the year 2020 with a strong fourth quarter: In this period, Group revenues increased by 11% to EUR 1,492 million (previous year: EUR 1,349 million). All segments contributed to this growth. Especially the 3% increase in entertainment advertising revenues, continued dynamic revenue development of the online beauty provider Flaconi and the positive effects of the acquisition of the US online dating company The Meet Group were the drivers in the fourth quarter. Also Red Arrow Studios achieved significant growth year-on-year. The Group thus generated total revenues of EUR 4,047 million in full-year 2020 (previous year: EUR 4,135 million) and was therefore only 2% below the previous year despite the effects of the COVID-19 pandemic, which significantly impacted the Group's business in the second quarter in particular. The Group therefore also confirms its preliminary full-year figures published on January 21, 2021.

Rainer Beaujean, Chairman of the Executive Board & CFO of ProSiebenSat.1 Media SE: We came out of the COVID-19 crisis quickly and strongly in 2020. We demonstrated this with strong performance and growth in all segments in the fourth quarter. In this traditionally important final quarter, our advertising business and international program production business continued to recover. We also remain very satisfied with the development of ParshipMeet Group. In addition to the consolidation effects from The Meet Group, its growth has also continued organically and in a profitable manner. As a result, we managed to noticeably exceed our most recent full-year forecast in terms of revenues and earnings. We are starting the new year with optimism: Although the first quarter will initially be impacted by the COVID-19 restrictions, we are confident that our business is robust and expect a significant upturn in the course of the year as soon as the environment returns to normal.

Operating performance

Seven.One Entertainment Group's external revenues grew by 2% to EUR 826 million in the fourth quarter of 2020 (previous year: EUR 813 million). This was driven by the further recovery in advertising revenues, which increased by 3% in this period. This underlines how the Group has continuously improved in the important advertising business over the course of the COVID-19 pandemic (advertising revenues Q2: -37%; Q3: -6%). The Group's entertainment and infotainment offerings, which were particularly strong in prime time, also contributed to this positive development. Due to the effects of the COVID-19 pandemic, the segment's external revenues fell by 9% to EUR 2,286 million in the full-year (previous year: EUR 2,518 million).

The ParshipMeet Group segment generated external revenues of EUR 132 million in the fourth quarter of 2020 after EUR 53 million in the previous year. Besides the initial consolidation of The Meet Group, which has been part of the Group since September 2020, the organic development of Parship Group and especially the US dating platform eharmony was again very positive in the fourth quarter as well as in the full-year. ParshipMeet Group generated external revenues of EUR 333 million (previous year: EUR 209 million) in the full-year, which equates to a year-on-year increase of 59%. Organic(1) growth was 11%.

External revenues in the NuCom Group segment increased by 8% to EUR 315 million in the fourth quarter of 2020 (previous year: EUR 293 million). In particular, the beauty and lifestyle business with the online beauty provider Flaconi continued its dynamic revenue growth with significant gains and thus more than offset the declines at portfolio companies like billiger-mietwagen.de (SilverTours) and Jochen Schweizer mydays that were still affected by the consequences of the COVID-19 pandemic. Furthermore, the deconsolidation of the OTC provider WindStar Medical in December had a slightly contrary effect in the fourth quarter. In the full-year, NuCom Group recorded growth of 7% to EUR 807 million (previous year: EUR 756 million).

While in the Red Arrow Studios segment the effects of the COVID-19 pandemic were particularly noticeable in the second quarter, the international program production business continued to recover in the fourth quarter of 2020 and, like the global sales business and the digital studio Studio71, recorded clear growth. At EUR 218 million (previous year: EUR 191 million), the segment's external revenues in the last three months of 2020 grew by 14% compared to the previous year, partly due to catch-up effects, but did not fully offset the decline in the first nine months of 2020. In the full-year, external revenues decreased by 5% to EUR 620 million (previous year: EUR 652 million).

The
LINK: https://en.prosiebensat1.com/en/press/prosiebensat-1-group-closes-2020...
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