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ProSiebenSat.1 raises 2016 sales and mid-term guidance
October 13, 2016 / 5:56 AM / in a year

ProSiebenSat.1 raises 2016 sales and mid-term guidance

FRANKFURT, Oct 13 (Reuters) - German broadcaster ProSiebenSat.1 raised its guidance for 2016 and 2018 on Thursday as developments at recently acquired businesses were good and generated synergies with is television activities.

The company, which entered the German blue chip index earlier this year, said it now expected 2016 sales to rise by at least 15 percent, compared with a previous forecast for at least 10 percent growth.

ProSieben said in a statement ahead of its annual capital markets day it expected annual sales to rise to 4.5 billion euros ($5.04 billion) by 2018, having previously expected 4.2 billion.

Recurring earnings before interest, taxes, depreciation and amortisation (EBITDA) will rise to 1.15 billion euros by 2018, ProSieben said. Earlier, the broadcaster of hit shows such as “Germany’s Next Top Model” and “The Biggest Loser” had anticipated 2018 recurring EBITDA to be almost 1.1 billion euros.

$1 = 0.8928 euros Reporting by Harro ten Wolde; Editing by Maria Sheahan

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