11.08.2016 Ströer SE & Co. KGaA  DE0007493991

DGAP-News: Ströer SE & Co. KGaA: Ströer increases revenue and earnings significantly in the first six months following the acquisition of T-Online (news with additional features)


 
DGAP-News: Ströer SE & Co. KGaA / Key word(s): Half Year Results/Half Year Results Ströer SE & Co. KGaA: Ströer increases revenue and earnings significantly in the first six months following the acquisition of T-Online (news with additional features) 11.08.2016 / 07:05 The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- PRESS RELEASE Ströer increases revenue and earnings significantly in the first six months following the acquisition of T-Online - Ströer reports organic growth of 8.7% - T-Online acquisition pushes H1 revenue up 38% to EUR 502.3m and operational EBITDA up 46% to EUR 114.6m - Adjusted earnings up 79% to EUR 60.6m Cologne, 11 August 2016 Ströer continued on its successful growth course in the second quarter of 2016. Revenue in the first six months was up 38.2% from EUR 363.4m to EUR 502.3m. The increase primarily stems from the acquisition of T-Online in November 2015, along with organic revenue growth of 8.7%. Bolstered by the good operating performance and the acquisition of T- Online, operational EBITDA climbed steeply by 46,2% to EUR 114.6m. Adjusted EBIT also increased in this context and was up 68,7% to EUR 75.9m. Adjusted H1 earnings likewise rose sharply, up 79,2% to EUR 60.6m. The free cash flow before acquisitions improved significantly, increasing by more than EUR 35m to EUR 37.8m (prior year: EUR 0.2m). The leverage ratio at the end of the first six months of 2016 improved to 1.5 compared to 1.9 in the prior-year period. "We had an excellent first half year and our financial ratios also developed exceptionally well. We recorded a strong increase in revenue and earnings from organic growth as well as our value-enhancing acquisitions. We combine the profitability of well established businesses with the dynamics of fast-growing and young business models - paving the way for long-term and profitable growth. Our strategy is paying off," says Udo Müller, CEO of Ströer. "Given the positive outlook, we are confirming our current guidance of EBITDA of more than EUR 280m and consolidated revenue of between EUR 1.1b and EUR 1.2b for 2016." Operating segments Digital The Ströer Digital segment was able to further increase revenue in the first half of the year. Revenue in the Digital segment was up from EUR 88.2m to EUR 210.3m in the first six months of 2016. The increase primarily stems from the acquisition of T-Online in November 2015, along with organic revenue growth of 10%. The revenue contributions from the investments made in new digital business models for the Transactional product group (such as Statista and stayfriends) also contributed to this development. Thanks to Ströer's digital strategy, the Company is increasingly able to leverage synergies and economies of scale on both the revenue and cost side. However, Ströer is also investing heavily in the development of fast- growing business models. This is reflected by the operational EBITDA margin of 25.6% compared with 27.2% in the prior year. Out-of-Home Germany The Out-of-Home Germany segment was able to build on the excellent performance in the prior year in the first quarter of 2016. H1 revenue rose 9.6% from EUR 214.1m to EUR 234.6m. In addition to the continued robust demand, additional sales measures spurred on growth. The large formats product group (previously the billboard product group), which targets both national and regional customer groups, benefited above all from the continued demand for traditional out-of-home products. Numerous other measures in the national sales organization also boosted revenue. The ongoing expansion of the regional sales force is stimulating growth too. The street furniture product group, whose customers tend to have a national or international focus, likewise grew noticeably. The transport product growth also made use of the positive momentum in the segment, albeit at a lower level. The tangible rise in revenue was accompanied by a slower rate of growth in cost of sales. The operational EBITDA margin rose to 25.2% (prior year: 23.4%). Out-of-Home International The OOH International segment includes the Turkish and Polish out-of-home activities and the western European giant poster business of the blowUP group. Revenue in the OOH International segment was down slightly by 4.5% to EUR 69.8m (prior year: EUR 73.1m) in the first half of 2016. Although growth in Turkey in particular slowed in the second quarter, all three subsegments notched up growth of 3.2% year on year in local currency despite very challenging external conditions due to the geopolitical tensions in Turkey in particular in the second quarter. The exchange rates also had a noticeably dampening effect on cost of sales, with revenue- linked higher costs being offset by exchange rate effects. Overall, the segment generated operational EBITDA of EUR 11.3m (prior year: EUR 11.7m) and an operational EBITDA margin of 16.2% (prior year: 15.9%). The Group's financial figures at a glance

                                Q2    Q2 Change 6M 2016 6M 2015 Change
                              2016  2015
Revenue1)                EUR 276.2 201.6  37.0%   502.3   363.4  38.2%
                           m

        by segment
        Ströer Digital   EUR 117.1  46.5 > 100%   210.3    88.2 > 100%
                           m
        OOH Germany2)    EUR 126.3 117.9   7.1%   234.6   214.1   9.6%
                           m
        OOH              EUR  39.8  43.4  -8.4%    69.8    73.1  -4.5%
        International      m

        by product
        group
        Large formats2)  EUR  92.9  90.8   2.3%   165.4   156.0   6.0%
                           m
        Street           EUR  39.0  41.3  -5.6%    76.5    74.8   2.2%
        furniture2)        m
        Transport2)      EUR  15.7  14.1  11.3%    28.9    26.6   8.7%
                           m
        Display3)        EUR  64.6  20.1 > 100%   121.8    40.4 > 100%
                           m
        Video3)          EUR  25.9  20.6  25.3%    45.2    38.4  17.6%
                           m
        Transactional3)  EUR  27.7   6.6 > 100%    45.3    11.3 > 100%
                           m
        Other2)          EUR  13.8  11.9  15.7%    25.9    23.1  12.0%
                           m

        Organic            %   6.5   7.0            8.7     8.4
        growth4)

Gross profit5)           EUR  91.7  65.3  40.5%   159.0   106.1  49.9%
                           m

Operational EBITDA6)     EUR  69.0  52.1  32.3%   114.6    78.4  46.2%
                           m
Operational EBITDA6) -     %  24.7  25.4           22.5    21.2
margin
Adjusted EBIT7)          EUR  49.6  35.5  39.8%    75.9    45.0  68.7%
                           m
Adjusted EBIT7) -          %  17.7  17.3           14.9    12.1
margin
Adjusted profit or loss  EUR  40.2  29.3  37.1%    60.6    33.8  79.2%
for the period8)           m
Adjusted earning per     EUR  0.73  0.58  25.1%    1.12    0.68  63.7%
share9)
Profit or loss for the   EUR  23.3  21.2   9.9%    27.7    18.2  52.2%
period10)                  m
Earning per share11)     EUR  0.42  0.42   1.5%    0.52    0.36  43.9%

Investments12)           EUR                       45.6    38.3  18.9%
                           m
Free cash flow13)        EUR                      -65,7   -13,7      <
                           m                                     -100%

                                                 30 Jun   31Dec Change
                                                   2016    2015
Total equity and         EUR                    1,634.7 1,469.3  11.3%
liabilities1)              m
Equity1)                 EUR                      640.0   679.6  -5.8%
                           m
Equity ratio               %                       39.2    46.3
Net debt14)              EUR                      363.9   231.2  57.4%
                           m

Employees15)            num-                      4,075   3,270  24.6%
                         ber


1) Joint ventures are consolidated using the equity method - in accordance with IFRS 11 2) Joint ventures are consolidated proportionately (management approach) 3) Revenue from the Ströer Digital segment and digital OOH revenue from other segments 4) Excluding exchange rate effects and effects from the (de-)consolidation and discontinuation of operations (joint ventures are consolidated proportionately) 5) Revenue less cost of sales (joint ventures are consolidated using the equity method - in accordance with IFRS 11) 6) Earnings before interest, taxes, depreciation and amortization adjusted for exceptional items (joint ventures are consolidated proportionately) 7) Earnings before interest and taxes adjusted for exceptional items, amortization of acquired advertising concessions and impairment losses on intangible assets (joint ventures are consolidated proportionately) 8) Adjusted EBIT before non-controlling interests net of the financial result adjusted for exceptional items and the normalized tax expense (joint ventures are consolidated proportionately) 9) Adjusted profit or loss for the period net of reported non-controlling interests divided by the number of shares outstanding (55,282,499; in Q2 2015: 48,869,784) 10) Profit or loss for the period before non-controlling interests (joint ventures are consolidated using the equity method - in accordance with IFRS 11) 11) Profit or loss for the period net of reported non-controlling interests divided by the number of shares outstanding (55,282,499; in Q2 2015: 48,869,784) 12) Including cash paid for investments in property, plant and equipment and in intangible assets (joint ventures are consolidated using the equity method - in accordance with IFRS 11) 13) Cash flows from operating activities less cash flows from investing activities (joint ventures are consolidated using the equity method - in accordance with IFRS 11) 14) Financial liabilities less derivative financial instruments and cash (joint ventures are consolidated proportionately) 15) Headcount of full and part-time employees (joint ventures are consolidated proportionately) About Ströer Ströer SE & Co. KGaA is a leading digital multi-channel media company and offers advertising customers individualized and fully integrated premium communications solutions. In the field of digital media, Ströer is setting forward-looking standards for innovation and quality in Europe and is opening up new opportunities for targeted customer contact for its advertisers. The Ströer Group commercializes and operates several thousand websites in German-speaking countries in particular and operates approximately 300,000 advertising media in the out-of-home segment. It has approximately 4,100 employees at over 70 locations. In fiscal year 2015, Ströer SE generated revenue of EUR 824m. Ströer SE & Co. KGaA is listed in Deutsche Börse's MDAX. For more information on the company, please visit www.stroeer.com. Press contact Marc Sausen Ströer SE & Co. KGaA Director Corporate Communications Ströer-Allee 1 50999 Cologne Phone: +49 2236 / 96 45-246 Email: presse@stroeer.de Investor Relations Dafne Sanac Ströer SE & Co. KGaA Head of Investor Relations Ströer Allee 1 50999 Cologne Phone: 0049 2236 / 96 45-356 Email: dsanac@stroeer.de Disclaimer This press release contains "forward looking statements" regarding Ströer SE & Co. KGaA ("Ströer") or the Ströer Group, including opinions, estimates and projections regarding Ströer's or the Ströer Group's financial position, business strategy, plans and objectives of management and future operations. Such forward looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of Ströer or the Ströer Group to be materially different from future results, performance or achievements expressed or implied by such forward looking statements. These forward looking statements speak only as of the date of this press release and are based on numerous assumptions which may or may not prove to be correct. No representation or warranty, express or implied, is made by Ströer with respect to the fairness, completeness, correctness, reasonableness or accuracy of any information and opinions contained herein. The information in this press release is subject to change without notice, it may be incomplete or condensed, and it may not contain all material information concerning Ströer or the Ströer Group. Ströer undertakes no obligation to publicly update or revise any forward looking statements or other information stated herein, whether as a result of new information, future events or otherwise.. Contact: Press contact: Marc Sausen Ströer SE & Co. KGaA 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: info@stroeer.de IR Contact: Dafne Sanac Ströer SE & Co. KGaA Head of Investor Relations Ströer-Allee 1 | D-50999 Cologne Phone: +49 (0)2236 / 96 45-356 Fax: +49 (0)2236 / 96 45-6356 E-Mail: dsanac@stroeer.de --------------------------------------------------------------------------- Additional features: Document: http://n.eqs.com/c/fncls.ssp?u=DCKPTXVSWK Document title: Ströer increases revenue and earnings significantly in the first six months following the acquisition of T-Online --------------------------------------------------------------------------- 11.08.2016 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. Archive at www.dgap.de --------------------------------------------------------------------------- Language: English Company: Ströer SE & Co. KGaA Ströer Allee 1 50999 Köln Germany Phone: +49 (0)2236.96 45 0 Fax: +49 (0)2236.96 45 299 E-mail: info@stroeer.com Internet: www.stroeer.de ISIN: DE0007493991 WKN: 749399 Indices: MDAX Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange End of News DGAP News Service --------------------------------------------------------------------------- 491411 11.08.2016


Die wichtigsten Finanzdaten auf einen Blick
  2015 2016 2017 2018 2019 2020e 2021e
Umsatzerlöse1 823,71 1.123,26 1.331,03 1.582,46 1.591,15 0,00 0,00
EBITDA1,2 188,60 251,58 462,10 514,40 536,11 0,00 0,00
EBITDA-Marge3 22,90 22,40 34,72 32,51 33,69 0,00 0,00
EBIT1,4 76,80 95,44 155,40 170,30 177,40 0,00 0,00
EBIT-Marge5 9,32 8,50 11,68 10,76 11,15 0,00 0,00
Jahresüberschuss1 59,53 71,95 98,47 -5,82 78,12 0,00 0,00
Netto-Marge6 7,23 6,41 7,40 -0,37 4,91 0,00 0,00
Cashflow1,7 190,32 236,34 252,38 426,03 478,43 0,00 0,00
Ergebnis je Aktie8 1,11 1,15 1,68 -0,27 1,22 1,85 2,70
Dividende8 0,70 1,10 1,30 2,00 2,00 2,00 2,00
Quelle: boersengefluester.de und Firmenangaben

  Geschäftsbericht 2019 - Kostenfrei herunterladen.  
1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de

Wirtschaftsprüfer: Ernst & Young

INVESTOR-INFORMATIONEN
©boersengefluester.de
Ströer
WKN Kurs in € Einschätzung Börsenwert in Mio. €
749399 73,800 Kaufen 4.180,52
KGV 2022e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
23,06 36,01 0,64 97,62
KBV KCV KUV EV/EBITDA
8,41 8,74 2,63 10,79
Dividende '19 in € Dividende '20e in € Div.-Rendite '20e
in %
Hauptversammlung
2,00 2,00 2,71 04.11.2020
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
11.05.2021 17.08.2021 12.11.2020 30.03.2021
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
0,76% 12,28% -8,89% -0,67%
    
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