ProSiebenSat.1 continues profitable growth in Q3 2014
| 07 November 2014
German media company ProSiebenSat.1 has continued its strong momentum in 2014 in its third quarter with revenues growing year-on-year by 10.5% to €637.5 million and net income rising 13.9% to €74.7 million.
All three of the company's key segments — TV advertising, content production and global sales — grew profitably in 2014 and also performed positively over the first nine months of the year increasing revenues by 8.2% to generate €1.910 billion. Recurring EBITDA for the nine months rose by 7% to €522.2 million while underlying net income improved 7.9% to €238.5 million.
For both the third quarter and nine-month period growth was significantly driven by the group's digital activities. Revenues outside the traditional TV advertising business therefore continued to increase. In the third quarter of 2014, their share in consolidated revenues rose to 31.4 % from 26.9% at the same time in the previous year.
The largest contribution in the third quarter of 2014 was made by the production business in the US. In addition to organic growth, the consolidation of the US production company Half Yard Productions from March 2014 onwards also had a positive impact. At the same time, the Red Arrow Entertainment Group achieved new production and sales successes in the US TV market
"ProSiebenSat.1 is on a very good track financially and strategically," commented CEO Thomas Ebeling. "In the third quarter of 2014, we grew profitably in all segments and are aiming for another record year. At the same time, we are developing all areas of our group in a future-oriented way. Thanks to continuous expansion and the linking of our TV business to the digital segment, we have laid an excellent foundation for further growth."