30.09.2016
_wige MEDIA AG DE000A1EMG56
DGAP-News: _wige GROUP reaffirms its prognosis for 2016 after major commission
DGAP-News: _wige MEDIA AG / Key word(s): Half Year Results
_wige GROUP reaffirms its prognosis for 2016 after major commission
30.09.2016 / 10:47
The issuer is solely responsible for the content of this announcement.
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_wige GROUP reaffirms its prognosis for 2016 after major commission
- Revenue growth to EUR 70 million (2015: EUR 63 million) expected
- EBITDA anticipated to double to EUR 4 million
- Digitalisation and internationalisation predicted to pay off in the
second half of the year
- Lauterbach: "We had hoped for more rapid progress in the first half of
the year!"
Cologne, 30 September 2016. Although _wige GROUP, with revenue in the first
half of the year of around EUR 30 million (- EUR 2.6 million compared to
the previous year) had a EBITDA of - EUR1.1 million (- EUR 2 million
compared to the previous year) and post-tax earnings of - EUR 2.8 million,
did not reach its previous year's figures, it has nevertheless confirmed
its prognosis for the 2016 financial year. On the basis of current
developments and a major commission, the CEO reaffirmed the prognosis for
the ongoing business year. On 28 September, _wige GROUP received a
preliminary contract for the technical equipment of a racing circuit in
Kuwait that carries a volume of EUR 8.5 million. The contract relates to
the first of three construction phases and is expected to be realised for
the most part still within the current business year. As the major
commission was already included in the planning, _wige GROUP still expects
a revenue of at least EUR 70 million (2015: EUR 63 million) and an EBITDA
of at least EUR 4 million (2015: EUR 2 million) as well as an EBT of EUR 1
million (2015: - EUR 1.5 million).
Strong surge in revenue and results in the second half of the year expected
CEO Peter Lauterbach: "We are aware that this prognosis is ambitious. After
all, to achieve this a revenue increase of EUR 40 million and an EBITDA
contribution for the second half of the year of more than EUR 5 million is
necessary. This planning is, however, absolutely valid, as it includes, in
addition to the basic utilisation, parts of revenues and earnings from the
agreed-upon major project. In the second half of the year, we can show the
kind of potential we can leverage as soon as our digitalisation and
internationalisation strategy fully takes effect."
Investments in digitalisation and internationalisation expected to rapidly
pay off
Even though the previous year boasted a large revenue volume in the
corporate TV business, the company has been dissatisfied with the first
half of 2016. "We had hoped for more rapid progress", says Lauterbach.
Which is why, already in 2015 the decision was made to resolutely expedite
the transformation of _wige GROUP to a digital service provider, as well as
the internationalisation. "The results therefore contain not least pre-
operating costs for revenues which we want to realise in the second half of
the year, especially in the fourth quarter. We are convinced that these
investments will fully pay off in future in the fourth quarter", Lauterbach
emphasises.
About _wige GROUP
As one of the world's leading marketing and production companies in motor
sport as well as in other areas of sport in Germany, _wige GROUP produces
the Formula1 races, the DTM German Touring Car Masters, the Handball
Champions League, the ADAC Zurich 24-hour Race at the Nürburgring and
German Football League games, as well as organising events and content for
prestigious companies such as Porsche, Audi, Mercedes/AMG, Red Bull, VW and
Deutsche Post AG. In the financial year 2016, the company anticipates
revenues in a volume of at least EUR 70 million and EBITDA of at least EUR
4 million.
Contact:
Company:
_wige MEDIA AG
Am Coloneum 2
50829 Köln
Germany
www.wige.de
Tel: +49 [0] 221_7 88 77_ 0
Fax: +49 [0] 221_7 88 77_ 199 Email: [email protected]
Investor Relations:
BSK Becker+Schreiner Kommunikation GmbH
Tobias M. Weitzel
Tel.: +49 [0] 2154_ 81 22 16
Email: [email protected]
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30.09.2016 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
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Language: English
Company: _wige MEDIA AG
Am Coloneum 2
50829 Köln
Germany
Phone: +49 (0)221 7 88 77 0
Fax: +49 (0)221 7 88 77 199
E-mail: [email protected]
Internet: www.wige.de
ISIN: DE000A1EMG56
WKN: A1EMG5
Listed: Regulated Market in Frankfurt (General Standard);
Regulated Unofficial Market in Berlin, Dusseldorf,
Stuttgart, Tradegate Exchange
End of News DGAP News Service
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