SPORTTOTAL AG
_wige MEDIA AG granted loan with additional funds of more EUR 2.5 million
DGAP-News: _wige MEDIA AG / Key word(s): Financing Corporate News from 18 July 2017 _wige MEDIA AG granted loan with additional funds of more EUR 2.5 million – “Important step in the direction of growth financing” – First loan agreement in six years Cologne, 18 July 2017. _wige MEDIA AG signed the first loan agreement today in six years with a major German bank. The company is to receive additional funds of up to EUR 2.5 million from Deutsche Postbank AG in the period through to June 2018 (under the draft agreement). The interest rate is 3 %. “Following the restructuring and the strategic realignment of the company, this is an important step in the direction of financing growth more efficiently,” commented Peter Lauterbach, CEO of _wige MEDIA AG. As _wige MEDIA will already be turning a profit in the current year, despite the high level of investment in sporttotal.tv, its amateur football platform, and is aiming to achieve revenues in excess of EUR 100 million and an EBIT margin of more than 10 percent, the foundations for a new financing structure have been laid. “While we largely depended on capital increases in the years of our restructuring, and loan financing, for instance, was not possible, we will now be tapping further sources of financing to the benefit of our shareholders,” Lauterbach says.
_wige MEDIA AG’s service portfolio also comprises the technical equipping of racing circuits and sports facilities, as well as the production and/or marketing of sports events such as the ADAC Zurich 24-Hour Race at the Nürburgring. In addition, _wige MEDIA AG also produces content for prestigious companies such Porsche, Audi, Mercedes/AMG, Red Bull, VW and Deutsche Post AG. Company contact: Investor Relations
18.07.2017 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English |
Company: | _wige MEDIA AG |
Am Coloneum 2 | |
50829 Köln | |
Germany | |
Phone: | +49 (0)221 7 88 77 0 |
Fax: | +49 (0)221 7 88 77 199 |
E-mail: | info@wige.de |
Internet: | www.wige.de |
ISIN: | DE000A1EMG56 |
WKN: | A1EMG5 |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Stuttgart, Tradegate Exchange |
End of News | DGAP News Service |