German Broadcaster ProSiebenSat.1 Boosts Long-Term Forecast
The network says revenue will increase by $1.1 billion by 2015 and $1.35 billion by 2018.
COLOGNE, Germany -- German commercial broadcaster ProSiebenSat.1 Media has confirmed its full-year outlook and raised its targets for 2015 and beyond, forecasting improved performance across all of its main operations.
Speaking at the Capital Markets Day event in Munich, ProSieben CEO Thomas Ebeling said the company's revenue in 2015 would be some $1.1 billion (€800 million) above levels in 2010 at $3.87 billion (€2.85 billion), or about $271 million (€200 million) more than previously forecast.
By 2018, the group wants to increase revenue from continuing operations by $1.35 billion (€1 billion) compared to 2012.
Ebeling said ProSieben's three main divisions -- broadcasting German-speaking, digital & adjacent and content production & global sales -- would all contribute to growth.
For the full year, the group still expects revenues to increase by a mid- to high-single-digit percentage and is forecasting higher operating profits and higher net profits compared to 2012.
ProSieben's main shareholders, equity investors KKR and Permira, are in the process of slowly withdrawing from the company. Last month, KKR and Permira confirmed they will sell 25 million shares of ProSieben, about 11 percent of the company, worth more than $1 billion ($760 million). KKR and Permira will have about 33 percent of ProSieben’s share capital after the sale.
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