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Earnings Release • Sep 30, 2016
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Earnings Release
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Corporate | 30 September 2016 10:47
_wige GROUP reaffirms its prognosis for 2016 after major commission
DGAP-News: _wige MEDIA AG / Key word(s): Half Year Results
2016-09-30 / 10:47
The issuer is solely responsible for the content of this announcement.
_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]
2016-09-30 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.
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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 |