euro adhoc: ProSiebenSat.1 Media AG
DISCLOSURE UNDER SEC. 15 OF THE
GERMAN SECURITIES TRADING ACT
ProSiebenSat.1 Group increases pretax profits significantly in first
quarter of 2004
Group revenues up six percent (E)
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
Munich, May 3, 2004. The ProSiebenSat.1 Group boosted its pretax income significantly in the first quarter of fiscal 2004. According to preliminary figures the television corporation generated pretax profits of EUR 43 million, compared to EUR -29 million in the same quarter the previous year. This represents an improvement of EUR 72 million. Revenues were EUR 436 million, up 6 percent or EUR 25 million from the equivalent previous period. EBITDA, at EUR 69 million, was significantly above the EUR 0.3 million figure for the first quarter of 2003.
All four stations showed a profit on the first quarter of 2004. For the second time in a row, station N24 closed out a quarter in the black. The news channels pretax profit improved to EUR 0.1 million, compared to EUR -7.7 million for the same quarter last year. Revenues were EUR 17 million compared to 15 million in the first quarter 2003.
Sat.1s pretax profits were up from EUR -13 million to EUR 24 million. The first quarter was therefore well into the black. The stations revenues for the first three months of the year totaled EUR 193 million which is an increase of EUR 16 million compared to the first quarter of last year. Pretax profits at ProSieben improved 130 percent, from EUR 15 million to EUR 35 million. Revenues were EUR 175 million after EUR 155 million in the first quarter of the previous year. Kabel 1s pretax profit was up from EUR 2.3 million to EUR 2.8 million. With revenues for the period of EUR 47 million the station showed a slight increase of EUR 0.1 million in the first quarter of fiscal 2004.
The corporations gratifying upturn is in part the result of an overall gain of EUR 25 million in revenues. Another reason behind the total improvement of pretax profits was the cost-management with some additional seasonality effects in the first quarter of 2004.
The financial statements for the first quarter of 2004 are the first that the ProSiebenSat.1 Group has presented under the new IFRS accounting standard.
This announcement is not an offer for sale of securities in the United States. Securities may not be sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. ProSiebenSat.1 Media AG does not intend to register any portion of the offering of the securities in the United States. Any offer of the securities to be made in the United States will be made only by means of an offering memorandum, which will contain detailed information about the company and its management and financial statements. Copies of this announcement are not being made and may not be distributed or sent into the United States, Canada or Japan.
end of announcement euro adhoc 03.05.2004
Contact:
Katja Pichler
Company Spokesperson
ProSiebenSat.1 Media AG
Medienallee 7
D-85774 Unterföhring
Phone: +49 [89] 95 07-11 80
Fax: +49 [89] 95 07-11 84
E-mail: Katja.Pichler@ProSiebenSat1.com
Press release online: www.ProSiebenSat1.com
Branche: Media
ISIN: DE0007771172
WKN: 777117
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Original content of: ProSiebenSat.1 Media SE, transmitted by news aktuell