25.03.2015
Ströer Media SE DE0007493991
DGAP-News: Ströer Media SE posts record-high earnings in fiscal year 2014
DGAP-News: Ströer Media SE / Key word(s): Final Results/Quarter
Results
Ströer Media SE posts record-high earnings in fiscal year 2014
25.03.2015 / 07:00
---------------------------------------------------------------------
- Revenue for the year climbs to EUR 721.1m
- Operational EBITDA rises to EUR 148.1m in 2014, up 25% on the prior
year
- Adjusted profit for the period soars to EUR 56.3m
- Board of management and supervisory board propose a dividend
distribution of 40 cents per share
- Outlook: Further increase of Operational EBITDA in 2015 up to 20%
expected
Ströer Media SE continues its profitable growth, with its fiscal year 2014
record figures in company history. Thanks to its strategic realignment,
Ströer is now successfully established in the market as an integrated and
increasingly digital media company and is one of the leading nationwide
marketers in the media segment. The expansion of our business to include
the new Digital segment made a significant contribution to this
development. Due to its broad portfolio, Ströer is capable of providing its
customers with individual communication solutions across the entire value
chain.
Revenue grew in fiscal year 2014 by around 16% to EUR 721.1m with organic
revenue growth at 11%. Revenue amounted to EUR 211.8m in the fourth quarter
of 2014, up by 10%. Organic revenue growth also came to 10%. The Digital
segment was strongly influenced by the digital transformation and was a
significant driver of growth, while the proactive management of the German
out-of-home business and the expansion of the regional business also had a
positive effect. Operational EBITDA climbed to EUR 148.1m (up 25%) as a
result of the considerably improved revenue situation. The operational
EBITDA margin was 20.2%, 1.6 percentage points above the prior-year figure.
The EBITDA margin rose by 2.2 percentage points in the fourth quarter to
28%.
Adjusted profit rose to EUR 56.3m in the reporting period (up 55%) and to
EUR 29.1m in the fourth quarter (up 25%). Ströer's profit underscores the
profitable growth course which the Company embarked upon two years ago.
The healthy performance of the operating business also had a positive
effect on the financial position. Within the space of a year, Ströer
reduced its leverage ratio (net debt to operational EBITDA) considerably
from 2.8 to 1.9 at the end of the fiscal year, the lowest ratio since the
Company went public.
"2014 was a record-setting year for Ströer. Our key financial figures show
a very positive development. We are in the process of becoming an
integrated and increasingly digital media company. The digital
transformation presents an excellent opportunity for us to significantly
advance our business," commented Udo Müller, CEO of Ströer. "The new fiscal
year has got off to a very good start and promises further profitable
growth. For the whole of 2015, we anticipate organic growth in the mid
single-digit range and operational EBITDA of between EUR 170m and EUR
180m."
The board of management and supervisory board of Ströer Media SE will
propose to the shareholder meeting on 30 June 2015 to increase the dividend
to 40 cents per qualifying share for fiscal year 2014.
Operating segments
Ströer Germany
Revenue for the year in the Ströer Germany segment increased by 10.6% to
EUR 465.1m. In the fourth quarter, revenue grew by 11.4% to EUR 132.1m.
Operational EBITDA made a highly positive development, rising 26.1% in the
fourth quarter to EUR 47.5m. EBITDA came to EUR 118.9m for 2014 as a whole,
marking an increase of 18.4%. The EBITDA margin also improved considerably
to 36% in the fourth quarter and to 25.6% for the year overall. Revenue
growth in 2014 was primarily driven by the expansion of national and
regional sales activities. The Ströer Group's wide variety of digital and
analog products also had a strong positive impact on the revenue
development. The segment thus grew more sharply than the overall national
advertising market.
Ströer Digital
The expansion to include online advertising companies constitutes a
cornerstone of the Ströer Group's corporate strategy and is a primary
driver of growth within the Group. Annual revenue in the Digital segment
rose to EUR 122.9m, nearly double the prior-year figure. Revenue grew by
18.7% in the fourth quarter to EUR 43.5m. The sharp rise in revenue growth
is attributable to strong organic growth and a more broadly focused market
approach. Organic revenue growth came to 34.4% for 2014 as a whole and to
16.2% for the final quarter of the fiscal year. Operational EBITDA in the
Digital segment climbed to EUR 12.4m in 2014, nearly double the prior-year
figure. Operational EBITDA grew by 15.4% in the fourth quarter to EUR 6.4m.
Ströer Turkey
The Turkey segment remained stable in the face of a still-challenging
market environment. Operational EBITDA rose slightly to EUR 14m for the
year as a whole. The EBITDA margin rose to 16.4% in the reporting period, a
positive development that is attributable to improved cost efficiency.
Adjusted for exchange differences, the Ströer Turkey segment achieved
organic revenue growth of 3.5%, which is due to increased regional demand.
However, this was offset by the weakness of the Turkish lira against the
euro, which led to an effective decline in revenue of 9.6%. As a result,
the Ströer Turkey segment generated revenue of EUR 85.5m in fiscal year
2014.
"Other" segment
The "Other" segment includes Ströer's Polish out-of-home activities and the
western European giant poster business of the blowUP division. The segment
closed fiscal year 2014 with revenue of EUR 61.8m, an increase of 9.5%.
Operational EBITDA in particular rose considerably by 64.7% to EUR 10.6m
for the year on the whole. The EBITDA margin also recorded a sharp rise to
17.1% for the year as a whole. With strong revenue and sound operational
EBITDA performance, the blowUP division has helped to sustain this trend. A
strong increase in cost efficiency led to an improvement in Poland's
contribution to operational EBITDA. Although the Polish advertising market
remains dogged by a low level of activity, it has nonetheless stabilized
compared with the prior year.
The Group's financial figures at a glance
In EUR m 2014 2013 Change
Revenue (1) 721.1 622.0 15.9%
by segment
Ströer Germany (2) 465.1 420.6 10.6%
Ströer Turkey 85.5 94.6 -9.6%
Ströer Digital (Online) 122.9 64.4 90.8%
Other (Ströer Poland and blowup) 61.8 56.4 9.5%
by product group
Billboard (2) 322.1 288.8 11.5%
Street furniture (2) 149.5 144.9 3.1%
Transport (2) 101.9 97.7 4.3%
Digital (Online) 122.2 64.2 90.3%
Other (2) 38.0 39.2 -3.2%
Organic growth (%) (3) 11.4 3.5
Gross profit (4) 215.9 187.8 14.9%
Operational EBITDA (5) 148.1 118.0 25.5%
Operational EBITDA margin (5) (%) 20.2 18.6
Adjusted EBIT (6) 98.5 72.0 36.9%
Adjusted EBIT margin (6) (%) 13.4 11.3
Adjusted profit or loss for the period (7) 56.3 36.3 55.0%
Adjusted earnings per share (8) (EUR) 1.10 0.77 43.7%
Profit or loss for the period (9) 24.0 4.5 >100%
Earnings per share (10) (EUR) 0.44 0.08 >100%
Investments (11) 45.2 39.0 16.1%
Free cash flow (12) 65.5 4.1 >100%
31 Dec 2014 31 Dec 2013 Change
Total equity and liabilities (1) 952.0 953.6 -0.2%
Equity (1) 320.1 296.7 7.9%
Equity ratio (%) 33.6 31.1
Net debt (13) 275.4 326.1 -15.5%
Employees (number) (14) 2,380 2,223 7.1%
(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 out-of-home and online
advertising, 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 more than 290,000 out-of-home advertising
faces and several thousand websites. With consolidated revenue of EUR 721m
for the full year 2014, Ströer Media SE is one of largest providers of
out-of-home media in Europe in terms of revenue.
The Ströer Group has approximately 2,400 employees at over 70 locations.
For more information on the Company, please visit www.stroeer.com
Press contact:
Marc Sausen
Ströer Media SE
Director Corporate Communications
Ströer-Allee 1 | D-50999 Cologne
Telephone: +49 (0)2236 - 96 45-246
Fax: +49 (0)2236 - 96 45-6246
E-Mail: [email protected]
IR Contact:
Dafne Sanac
Ströer Media SE
Manager Investor Relations
Ströer-Allee 1 | D-50999 Cologne
Phone: +49 (0)2236 / 96 45-356
Fax: +49 (0)2236 / 96 45-6356
E-Mail: [email protected]
---------------------------------------------------------------------
25.03.2015 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: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich,
Stuttgart
End of News DGAP News-Service
---------------------------------------------------------------------
337051 25.03.2015
|
Weitere Ad-hoc und Unternehmensrelevante Mitteilungen zu
Ströer Media SE ISIN: DE0007493991 können Sie bei EQS abrufen
Medien (Dienstleistungen) , 749399 , SAX , XETR:SAX