AI Terminal
Sporttotal AG
Earnings Release • Mar 7, 2017
4529_rns_2017-03-07_b84df461-cba5-4631-848e-604950911733.html
Earnings Release
Open in ViewerOpens in native device viewer
News Details
Corporate | 7 March 2017 17:46
_wige MEDIA AG anticipates positive performance in 2017
DGAP-News: _wige MEDIA AG / Key word(s): Final Results
07.03.2017 / 17:46
The issuer is solely responsible for the content of this announcement.
Corporate News , 7 March 2017
_wige MEDIA AG, ISIN: DE000A1EMG56 / WKN: A1EMG5
_wige MEDIA AG anticipates positive performance in 2017
– Revenue growth of EUR 100 million anticipated in the medium term
– Medium-term EBIT margin of 10% targeted
– As expected, EBT 2016 at EUR -6.5 million due to group restructuring
Cologne, 7 March 2017. In the current financial year, _wige MEDIA AG anticipates revenues of around EUR 60 million, EBITDA of EUR 2.7 million and earnings before interest and tax (EBIT) of EUR 1.5 million. In the medium term, revenues are expected to grow to around EUR 100 million, with an EBIT margin of 10%. The company’s Management Board has today approved the respective medium-term planning. _wige MEDIA AG will benefit from a corporation and trade tax loss carryforward of around EUR 45 million at year-end 2016. In line with the forecast, the provisional, as yet unaudited, 2016 annual financial statements, which include the discontinued broadcast business respectively, report revenues of around EUR 60 million due to group restructuring and earnings before tax (EBT) of EUR -6.5 million. As part of the Group’s restructuring process, the company sold _wige BROADCAST gmbh, a loss-making business with TV production for domestic and international broadcasters, associations and organisers, as well as _wige SOLUTIONS gmbh, a low-margin and capital intensive media technology business in their entirety. The transactions have meanwhile been concluded. The purchase price for the sold operations stood at EUR 4 million in total, EUR 3.5 million of which for _wige Solutions gmbh and EUR 0.5 million for _wige Broadcast GmbH. _wige MEDIA AG received EUR 1.6 million in cash from the transaction. One-off non-cash charges of EUR 3.2 million arose from the disposals.
Expansion with scalable digital business, international projects and live events
In the future, _wige MEDIA AG has plans to grow in the scalable digital business, in the high-margin international project business, as well as in business with live events. Through a partnership with the German Football Association (DFB), the company intends to equip German amateur football clubs with special video technology that enables games to be transmitted live in a high quality and fully automatically using the new “sporttotal.tv” platform. Allianz Deutschland AG, Deutsche Post AG and Telekom Deutschland GmbH together with Microsoft support the wholly-owned subsidiary of _wige MEDIA AG as founding partners, with BILD as media partner. Spectators can, for instance, use the sporttotal app to direct how they view a game, determine the perspective and share scenes on social media. As early as the current 2016/2017 season, 50 clubs in Northern Regional League as well as in the south and north Bavarian leagues are to be equipped with the systems in stages. The streaming offering can be accessed via the sporttotal app as well as through sporttotal.tv, BFV.de and FUSSBALL.DE, the DFB’s platform for amateur football.
The complete 2016 annual statements will be published on the homepage of _wige MEDIA AG on 29 April 2017.
About the _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, the _wige GROUP produces the Formula1 races, the DTM German Touring Car Masters series, 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.
**Company contact:
_wige MEDIA AG**
Am Coloneum 2
50829 Cologne
Germany
phone: +49 (0)221_7 88 77_ 0
fax: +49 (0)221_7 88 77_ 199
Investor Relations
BSK Becker+Schreiner Kommunikation GmbH
Tobias M. Weitzel
phone: +49 (0) 177_7 21 57 60
07.03.2017 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: | _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 |