BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - ProSiebenSat.1 Group (PBSFF.PK) reported that its 2017 adjusted net income exceeded the previous year's figure by 3% and reached 550 million euros. Adjusted EBITDA increased by 3% to 1.05 billion euros. Underlying basic earnings per share was 2.40 euros compared to 2.47 euros. Result for the period from continuing operations increased to 481 million euros from 452 million euros. Earnings per share from continuing operations was 2.04 euros compared to 2.02 euros.
Fiscal year 2017 revenues rose by 7% to 4.08 billion euros from 3.80 billion euros, prior year. In the full year, the Group generated 51% of revenues outside of the TV advertising business and thus successfully continued its strategic diversification.
ProSiebenSat.1 expects to further increase its revenues in 2018. The Group's profitability / adjusted EBITDA margin is expected to remain in the mid 20 percent range and thus at the previous year's high level. With regard to adjusted net income, the Group anticipates a conversion rate of adjusted EBITDA to adjusted net income at the high level of the previous year.
The Group also intends to continue its profitable growth in the medium term and is aiming to achieve an average increase in revenues in the mid-single digit percentage range per year by 2022. At the same time, the Group anticipates a further increase in operating earnings and a profitability in the mid 20 percent range based on the adjusted EBITDA.
The Executive Board advised the Supervisory Board to propose an increased dividend of 1.93 euros per share to the Annual General Meeting for the financial year 2017.
Copyright RTT News/dpa-AFX