ProSiebenSat.1 Media SE

Earnings Release • Nov 30, 2001

News Details

Ad-hoc | 30 November 2001 07:55

ProSiebenSat.1 Media AG english

ProSiebenSat.1 Group Revises Expectations for 2001 Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– DISCLOSURE UNDER SEC. 15 OF THE GERMAN SECURITIES TRADING ACT ProSiebenSat.1 Group Revises Expectations for 2001 Advertising market suffers from deteriorating economic climate Munich, November 30, 2001. Today the ProSiebenSat.1 Group revised its fiscal 2001 projections downward. The recessive economic environment in Germany further accelerated the decline in the television advertising market during the fourth quarter of 2001. Especially October and November, which traditionally ge-nerate the year’s strongest revenues, remained well below expectations that had been considered reliable even after September’s terrorist attacks in New York and Washington. Compared to the record year 2000, Group revenues are now ex-pected to fall between six and seven percent. Consolidated net income and EBIT will presumably be 45 percent lower than last year; EBITDA will be down roughly 40 percent. Consolidated pre-tax income is projected at roughly EUR 90 million. The direct and indirect effects of the terrorist attacks have further intensi- fied the economic downswing in Germany. In their autumn assessment, released at the end of October, the country’s six leading economic institutes now assume that economic growth for the current year will be only 0.7 percent. The ifo Institute for Economic Research had originally anticipated a gain of 2.5 percent for 2001. Against this economic background, like all commercial media companies, the ProSiebenSat.1 Group experienced industry-wide cutbacks in adver- tising clients’ marketing budgets during the fourth quarter. Some of these cuts were substantial. The company assumes that the German television advertising market will decline a total of seven to eight percent for 2001 as a whole. On the basis of initial bookings at its Sat.1, ProSieben, Kabel 1 and N24 channels, the ProSiebenSat.1 Group anticipates that growth in the German tele- vision market overall will be up slightly in 2002. A sustained improvement can only be expected in the second half of the year. end of ad-hoc-announcement (c)DGAP 30.11.2001 Issuer’s information/explanatory remarks concerning this ad-hoc-announcement: Contact: Dr. Torsten Rossmann, Corporate spokesman, ProSiebenSat.1 Media AG, Medienallee 7, D-85774 Unterföhring, Tel.: +49 89 95 07-11 80, Fax: +49 89 95 07-11 84 email: Torsten.Rossmann@ProSiebenSat1.com, Press release online: www.ProSiebenSat1.com ——————————————————————————– WKN: 777 117; Index: MDAX Listed: Amtlicher Handel in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 300755 Nov 01