German media firm ProSiebenSat.1 Media SE (PSM.XE) stated Thursday that profit in the fourth quarter fell regardless of recording elevated income.
Net profit from persevering with actions for the interval was 167 million euros ($205.7 million), down four% from EUR174 million a yr earlier. Revenue rose 5.6% to EUR1.32 billion, bolstered by promoting income at its German-speaking broadcasting unit.
Adjusted earnings earlier than curiosity, taxes, depreciation, and amortization, was barely decrease at EUR390 million, and its adjusted Ebitda margin stood at 29.four%.
ProSiebenSat.1 stated in 2018 it expects the adjusted Ebitda margin to be in the mid 20% range–it was at 25.eight% for full-year 2017–while income ought to additional improve. The firm is concentrating on a mean improve in revenues in the mid-single digit proportion per yr by 2022, it stated.
The firm proposed a dividend of EUR1.93 for 2017, up from EUR1.90 a yr earlier.
As a part of its diversification technique, ProSiebenSat.1 additionally stated it bought a minority curiosity of 25.1% in commerce enterprise NuCom Group to General Atlantic, based mostly on an enterprise worth of EUR1.eight billion. NuCom is buying all remaining shares in Verivox and SilverTours and can improve its possession in Parship Elite Group to about 94%.