ProSiebenSat.1 has confirmed its full-year outlook following strong third-quarter net income growth, boosted by growth in digital revenues of 50% to €85.9 million.
The broadcast group more than doubled its underlying net income to €65.1 million. ProSiebenSat.1 posted total revenues of €636.9 million, up 7.1%. Recurring EBITDA grew by 2.3% to €167.3 million.
The German broadcast segment underperformed compared with a strong 2011 third quarter, impacted to some extent by the Olympic Games, which were shown exclusively on public broadcast channels, but nevertheless turned in revenue growth of 5%. The Nordic market channels performed strongly, with significant advertising growth. Online advertising was up significantly.
Due to start-up costs for newly acquired production companies, recurring EBITDA in ProSiebenSat.1’s content production and global sales segment decreased by €2.7 million year-on-year to minus €1.4 million. In August production arm Red Arrow Entertainment acquired US production company Left/Right, its fourth major acquisition in the English-speaking world this year and its largest to date.
Thomas Ebeling, CEO of ProSiebenSat.1 Group said: “In the last few years, we have consistently invested in new growth markets. This is paying off today. With a revenue increase of nearly 50%, our Digital & Adjacent activities were the strongest growth driver in the third quarter of 2012 as well. We are developing ProSiebenSat.1 from a traditional TV provider to a digital entertainment powerhouse – and are thus setting the course for a long-term, successful development of the Group.”