12.11.2014
Ströer Media SE DE0007493991
DGAP-News: Ströer Media SE: Ströer Media SE significantly boosts operating result and increases guidance for 2014 on the back of a strong Q3
DGAP-News: Ströer Media SE / Key word(s): Quarter Results
Ströer Media SE: Ströer Media SE significantly boosts operating result
and increases guidance for 2014 on the back of a strong Q3
12.11.2014 / 07:00
---------------------------------------------------------------------
- Consolidated revenue up 18% in the third quarter to EUR 174.6m
- Strong organic growth of 15.7% in Q3
- Digital revenue (Online) up 51.3% to EUR 27.7m
- Operational EBITDA rises strongly to EUR 30.1m (up 47.9%)
- At EUR 27.2m, adjusted profit more than doubles in the first nine
months of 2014
- Free cash flow improves by EUR 53m year on year
Ströer Media SE was able to seamlessly continue its excellent business
performance recorded in the first half of the year. Consolidated revenue
increased by 18% to EUR 174.6m in the third quarter of 2014. Organic growth
was also robust, at 15.7% in Q3. High digital growth and strong poster
business provided the basis for this successful development.
As a strong multi-media marketer, Ströer has enhanced its importance among
customers and agencies while consolidating its position in the market. For
Ströer, the third quarter was shaped by innovations such as 360 degree
multi-screen campaigns, the newly launched multi-screen ad server for the
public video network presented at the Dmexco trade fair, and the iBeacon
testing platform "Open Playground" at Düsseldorf's central railway station.
Operational EBITDA was up a significant 47.9% in the third quarter to EUR
30.1m. The operational EBITDA margin also improved to 17.0% from 13.5% in
the prior year. One particular highlight is the steep climb in net adjusted
profit by 108% to EUR 27.2m in the first nine months of the year.
The favorable business performance also had a positive knock-on effect on
the financial position. Free cash flow was improved considerably on the
prior year (up EUR 53m) and the leverage ratio was reduced significantly to
2.2.
"We are very pleased with the third quarter. We have continued to see a
very positive business performance since the beginning of the year and have
been able to significantly improve all key financial figures. One
particular highlight is the immense improvement in profit, with profit for
the period rising considerably on the prior year. Following a strong third
quarter, we expect to see a continuation of the positive business
performance for the rest of the year and have increased the guidance for
fiscal year 2014 in light of this. For us, this is further confirmation
that we are on the right track with our strategy," commented Udo Müller,
CEO of Ströer.
Operating segments
Ströer Germany
The out-of-home business recorded a strong third quarter in 2014. In the
third quarter of 2014, the Ströer Germany segment increased its revenue by
18.7% against the 2013 comparative period to EUR 115.3m. The segment's
operational EBITDA also grew substantially by EUR 6.4m (up 32.2%) to EUR
26.3m. At 22.8%, the operational EBITDA margin significantly exceeded the
prior-year level of 20.4%.
Ströer Turkey
Organic growth adjusted for currency effects came to 3.4% in the Ströer
Turkey segment in the third quarter of the year. Revenue stood at EUR 20.1m
in the third quarter due to currency effects (down 5.7%). The operational
EBITDA margin increased to 8.1% (prior year: 5.3%) and operational EBITDA
exceeded the prior year at EUR 1.6m.
Ströer Digital (Online)
Revenue in the Ströer Digital (Online) segment increased considerably in
the third quarter of 2014 to EUR 27.7m (up 51.3%). As expected, operational
EBITDA was also robust in the reporting period at EUR 2.1m. In addition to
the revenue and earnings contributions of the companies acquired in 2013,
the new Ströer Digital segment contains the contributions from the majority
interest in the GAN Group acquired in the first half of 2014 and from Tube
One Networks GmbH. Overall, this segment performed as planned.
"Other" segment
The "Other" segment includes our Polish out-of-home activities and the
western European giant poster business of the blowUP division. The blowUP
division increased its revenue contribution by 10% in the third quarter of
2014. Poland's contribution to revenue in the first nine months of the year
was virtually unchanged year on year. The "Other" segment recorded a 45%
rise in operational EBITDA to EUR 1.9m in Q3. Likewise, the operational
EBITDA margin increased significantly to 13%. Segment revenue for the
quarter rose by 4.3% overall to EUR 14.3m.
Outlook
The guidance for fiscal year 2014 has been raised on the back of a strong
third quarter.
For the fourth quarter of 2014, Ströer expects total group revenue growth
of between 10% and 15%, with organic growth of at least 10%.
For the full year 2014, the Company expects organic growth of around 10%
and operational EBITDA of approximately EUR 145m.
The Group's financial figures at a glance
In EUR m 9M 2014 9M 2013 Change
Revenue (1) 509.3 430.1 18.4%
by segment
Ströer Germany (2) 334.0 302.0 10.6%
Ströer Turkey 62.0 70.5 -12.1%
Ströer Digital (Online) 79.4 27.8 >100%
Other (Ströer Poland and blowup) 43.7 39.5 10.7%
by product group
Billboard (2) 232.4 213.0 9.1%
Street furniture (2) 105.2 102.8 2.3%
Transport (2) 71.2 67.6 5.2%
Digital (Online) 79.1 27.7 >100%
Other (2) 30.4 28.1 8.2%
Organic growth (%) (3) 10.9 4.8
Gross profit (4) 145.3 120.4 20.7%
Operational EBITDA (5) 87.8 67.7 29.7%
Operational EBITDA margin (5) (%) 16.9 15.4
Adjusted EBIT (6) 52.6 35.2 49.6%
Adjusted EBIT margin (6) (%) 10.2 8.0
Adjusted profit or loss for the period (7) 27.2 13.1 >100%
Adjusted earnings per share (8) (EUR) 0.54 0.30 80.5%
Profit or loss for the period (9) 5.8 -8.3 n.d.
Earnings per share (10) (EUR) 0.10 -0.18 n.d.
Investments (11) 25.8 26.6 -3.0%
Free cash flow (12) 34.1 -18.6 n.d.
30 Sep 2014 31 Dec 2013 Change
Total equity and liabilities (1) 946.5 953.1 -0.7%
Equity (1) 306.1 297.0 3.1%
Equity ratio (%) 32.3 31.2
Net debt (13) 303.6 326.1 -6.9%
Employees (number) (14) 2,366 2,223 6.4%
(1) Joint ventures are consolidated at-equity - according to IFRS 11
(2) Joint ventures are consolidated proportional (management approach)
(3) Excluding exchange rate effects and effects from the (de-)consolidation
and discontinuation of operations (Joint ventures are consolidated
proportional)
(4) Revenue less cost of sales (Joint ventures are consolidated at-equity -
according to IFRS 11)
(5) Earnings before interest, taxes, depreciation and amortization adjusted
for exceptional items (Joint ventures are consolidated proportional)
(6) Earnings before interest and taxes adjusted for exceptional items,
amortization of acquired advertising concessions and impairment losses on
intangible assets (Joint ventures are consolidated proportional)
(7) Adjusted EBIT before non-controlling interest net of the financial
result adjusted for exceptional items and the normalized tax expense (Joint
ventures are consolidated proportional)
(8) Adjusted profit or loss for the period net of non-controlling interests
divided by the number of shares outstanding after the IPO (42,098,238) plus
time-weighted addition of the shares from the capital increase (6,771,546)
on 3 June 2013
(9) Profit or loss for the period before non-controlling interest (Joint
ventures are consolidated at-equity - according to IFRS 11)
(10) Actual profit or loss for the period net of non-controlling interests
divided by the number of shares outstanding after the IPO (42,098,238) plus
time-weighted addition of the shares from the capital increase (6,771,546)
on 3 June 2013
(11) Including cash paid for investments in property, plant and equipment
and in intangible assets (Joint ventures are consolidated at-equity -
according to IFRS 11)
(12) Cash flows from operating activities less cash flows from investing
activities (Joint ventures are consolidated at-equity - according to IFRS
11)
(13) Financial liabilities less derivative financial instruments and cash
(Joint ventures are consolidated proportional)
(14) Headcount of full and part-time employees (Joint ventures are
consolidated proportional)
About Ströer
Ströer Media SE is a leading provider of online advertising and
out-of-home, and offers its advertising customers individualized and fully
integrated premium communications solutions. In the field of digital media,
Ströer is setting new standards for innovation and quality in Europe and is
thus opening up new and innovative opportunities for targeted customer
contact for its advertisers.
The Ströer Group commercializes several thousand websites and more than
280,000 out-of-home advertising faces. With consolidated revenue of EUR
634m for the full year 2013, Ströer Media SE is one of largest providers of
out-of-home media in Europe in terms of revenue.
The Ströer Group has approximately 2,300 employees at over 70 locations.
For more information on the Company, please visit www.stroeer.com.
Press Contact
Marc Sausen
Ströer Media SE
Director of Group Communication
Ströer-Allee 1 . 50999 Cologne
Telephone: +49 (0) 2236 / 96 45-246
Fax: +49 (0) 2236 / 96 45-6246
Email: [email protected]
Contact Investor Relations
Dafne Sanac
Ströer Media SE
Manager Investor Relations
Ströer-Allee 1 . 50999 Cologne
Telephone: +49 (0) 2236 / 96 45-356
Fax: +49 (0) 2236 / 96 45-6356
Email: [email protected]
---------------------------------------------------------------------
12.11.2014 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
Language: English
Company: Ströer Media SE
Ströer Allee 1
50999 Köln
Germany
Phone: +49 (0)2236.96 45 0
Fax: +49 (0)2236.96 45 299
E-mail: [email protected]
Internet: www.stroeer.de
ISIN: DE0007493991
WKN: 749399
Indices: SDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
---------------------------------------------------------------------
296616 12.11.2014
|
Weitere Ad-hoc und Unternehmensrelevante Mitteilungen zu
Ströer Media SE ISIN: DE0007493991 können Sie bei EQS abrufen
Medien (Dienstleistungen) , 749399 , SAX , XETR:SAX