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UPDATE 1-Digital, on-demand help ProSieben beat expectations
November 8, 2012 / 7:17 AM / 5 years ago

UPDATE 1-Digital, on-demand help ProSieben beat expectations

* Q3 EBITDA, ex-items 167.3 mln vs 166 mln in Reuters poll

* Still sees 2012 EBITDA ex-items of more than 850 mln

FRANKFURT, Nov 8 (Reuters) - German commercial broadcaster ProSiebenSat.1 confirmed its full-year outlook after its digital and on-demand offerings fuelled better-than-expected third-quarter results.

The media group reported a 2.3 percent increase in earnings before interest, tax, depreciation and amortisation (EBITDA), excluding special items to 167.3 million euros ($213.4 million) for the quarter through end-September.

That was slightly ahead of average analysts’ expectations of 166 million euros in a Reuters poll.

“With a revenue increase of nearly 50 percent, our Digital & Adjacent activities were the strongest growth driver in the third quarter of 2012,” said Thomas Ebeling, chief executive of the group.

Total third-quarter revenue of 636.9 million euros beat the most optimistic estimate in the poll.

ProSieben said it still expects a mid-single-digit percentage growth in sales this year, while recurring EBITDA should exceed 850 million euros.

In the German-speaking countries, which account for more than half of the group’s revenues, ProSieben faced competition from the Olympic Games on public broadcasters.

Its Scandinavian stations, which have attracted the interest of potential bidders, continued to gain market share. ($1 = 0.7840 euros) (Reporting by Harro ten Wolde; Editing by Victoria Bryan)

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