May 11, 2017 / 6:02 AM / 7 months ago

ProSiebenSat.1 Q1 beats expectations

FRANKFURT, May 11 (Reuters) - German media company ProSiebenSat.1 reported better-than-expected first-quarter results on Thursday, saying acquisitions in its digital business contributed substantially.

The company reported a 10-percent rise in adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) to 188 million euros ($204 million) on 13 percent higher sales of 910 million euros.

That was above the average expectations of analysts in a Reuters poll.

The broadcaster of hit shows such as “Germany’s Next Top Model” and “Circus Halligalli” said it still expects revenues to rise by at least a high-single-digit percentage in 2017, while adjusted EBITDA and underlying net profit will be above the 2016 level.

ProSieben lowered its growth outlook for the German TV advertising market this year to 1.5 to 2.5 percent from 2 to 3 percent previously.

It said it expects to grow broadly in line with the market. ($1 = 0.9199 euros) (Reporting by Harro ten Wolde; Editing by Maria Sheahan)

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