euro adhoc: ProSiebenSat.1 Media AG
Quarterly or Semiannual
Financial Statements
DISCLOSURE UNDER SEC. 15 OF THE GERMAN
SECURITIES TRADING ACT
ProSiebenSat.1 Group Pre-tax Income Doubles for the second quarter
2003
Group revenues down six percent
S
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
Munich, August 7, 2003. Despite the ongoing advertising crisis, the ProSiebenSat.1 Group nearly doubled its pre-tax income in the second quarter of fiscal 2003. Although Group revenues were down 6 percent against the comparable quarter of the previous year, to EUR 466.9 million, the television corporation boosted its pre-tax income from EUR 16.8 million to EUR 33.2 million against the same period of 2002. All the Groups full-service channels showed a profit on the second quarter. Station Sat.1 was back in the black for the first time since 2000. News channel N24 improved its pre-tax income by 29 percent. The television corporations gratifying earnings performance resulted from extensive cost-cutting and optimization measures that significantly reduced the Groups total expenses and substantially improved its organizational efficiency.
The sharp earnings increase between April and June means that in all, the ProSiebenSat.1 Group earned a profit in the first half of 2003. Group pre-tax income, at EUR 2.5 million, was well above the first-quarter loss of EUR -30.8 million. In the first half of 2002, the ProSiebenSat.1 Group generated pre-tax income of EUR 25.3 million. Group revenues for the first six months of the current year were EUR 878.2 million, down 11 percent from the same period last year. EBITDA for the period reached EUR 58.1 million, following EUR 85.2 million the previous year. EBIT, at EUR 39.0 million, was down EUR 20.0 million from the first six months of 2002. Cash flow calculated by DVFA/SG methods amounted to EUR 533.8 million, and DVFA/SG earnings per share were EUR -0.01, following EUR 0.08. The Groups business performance for the first half of 2003 significantly felt the impact of the severe slump in the television advertising market in the first quarter. Although the market recovered slightly between April and June, it still remained below the level from the same period last year.
You will find further information about the interim figures at www.ProSiebenSat1.com.
end of announcement euro adhoc 07.08.2003
Further inquiry note:
Dr. Torsten Rossmann
Company Spokesman
ProSiebenSat.1 Media AG
Medienallee 7
D-85774 Unterföhring
Tel.: +49 [89] 95 07-11 80
Fax: +49 [89] 95 07-11 84
E-mail: Torsten.Rossmann@ProSiebenSat1.com
Press release online: www.ProSiebenSat1.com
Branche: Media
ISIN: DE0007771172
WKN: 777117
Index: CDAX, Classic All Share, HDAX, MDAX, Midcap Market Index, Prime All Share, Prime
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Original content of: ProSiebenSat.1 Media SE, transmitted by news aktuell