Sport1 Medien AG

  • WKN: 914720
  • ISIN: DE0009147207
  • Land: Deutschland

Nachricht vom 09.05.2019 | 17:53

Constantin Medien AG: Constantin Medien in Q1 2019: Realignment shows concrete results

DGAP-News: Constantin Medien AG / Key word(s): Quarterly / Interim Statement

09.05.2019 / 17:53
The issuer is solely responsible for the content of this announcement.


Constantin Medien in Q1 2019: Realignment shows concrete results

- Earnings attributable to shareholders improved by 12.5 percent despite decline in revenues and operating income

- Investments at PLAZAMEDIA contribute to turnaround on EBITDA basis

- Massive reduction of financing costs

- Management Board confirms guidance for 2019 as a whole

Ismaning, May 9, 2019 - In the first quarter of 2019, the Constantin Medien Group's revenues and earnings development was characterized by lower TV advertising revenues compared to the previous year following the discontinuation of the rights to the UEFA Europa League. A general restraint in advertising spendings also contributed to this development in a quarter with few events - the comparable prior-year period included, among others, the Winter Olympic Games. In combination with non-recurring expenses for severance payments and continuing high legal and consulting costs, the decline in revenues led to a decrease in the operating result. For the full year 2019, the Management Board confirms its financial targets for Group revenues, which are expected to be between EUR 105 million and EUR 125 million. The Management Board estimates the earnings attributable to shareholders to be within a range of EUR +0.5 million and EUR -3.0 million and thus clearly above the previous year's figure.

Group key figures Q1 2019

- Group revenues reached EUR 24.8 million (Q1 2018: EUR 28.5 million). This was mainly due to lower TV advertising revenues following the discontinuation of the rights to the UEFA Europa League, which will be replaced by live and highlight rights to the DFB Cup (DFB-Pokal) as of the 2019/20 season. In addition, there was a general restraint in advertising spending and restrictive regulatory environment for the Schleswig-Holstein licenses for the organization and thus also for the advertising of online casinos. The Management Board assumes that the legal situation will change again in the second quarter of 2019 so that the advertising of corresponding offers will be possible once again.

- Earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to EUR -2.0 million, compared to EUR -1.8 million in Q1 2018. Despite the decline in revenues, EBITDA was almost at the previous year's level, in particular due to significantly lower license expenses and the reclassification of rental and leasing expenses to depreciation due to the first-time adoption of IFRS 16 Leases as of January 1, 2019.

- The operating result (EBIT) amounted to EUR -4.2 million after EUR -2.7 million in Q1 2018. The decline is explained by the above-mentioned decline in revenues and the non-recurring recognition of expenses for severance payments. In addition, EBIT continued to be burdened by high legal and consulting costs.

- The financial result in Q1 2019 improved significantly by EUR 1.2 million to EUR -0.1 million (Q1 2018: EUR -1.3 million) due to the redemption of the corporate bond maturing in April 2018 and the associated elimination of the corresponding interest expenses.

- Earnings attributable to shareholders improved by EUR 0.6 million to EUR -4.2 million (Q1 2018: EUR -4.8 million).

Operative highlights

- Investments, restructuring and the expansion of customer relationships at PLAZAMEDIA GmbH led to EBITDA of EUR 0.9 million in the first three months of 2019, a very significant improvement of EUR 0.9 million compared to the same period of the previous year. Despite the high depreciation of investments, the EBIT of PLAZAMEDIA GmbH improved considerably.

- On January 24, 2019, eSPORTS1, the first eSports channel in the German-speaking area, successfully went on-air. This confirms SPORT1's innovative role in the German media industry. The program includes at least 1,200 live hours per year of international and national top events as well as highlight broadcasts and self-produced magazines. The new pay-TV channel reports 24/7 on the most popular titles such as League of Legends, Dota 2 or Counter-Strike. Since its launch, eSPORTS1 has been offered via the platforms of Vodafone Deutschland, Telekom, Unitymedia, 1&1, T-Mobile Austria, A1 Telekom, UPC Switzerland and Zattoo as well as via the new eSPORTS1 app.

Olaf Schröder, CEO of Constantin Medien AG: "The first quarter proves that our strategy is starting to pay off. This is particularly noticeable at PLAZAMEDIA, where we have achieved a turnaround on an EBITDA basis. But our innovations are also noticeable at SPORT1, for example through the launch of the pay-TV offer eSPORTS1. Another important pillar of our strategy is the optimization of our Group financing, where we have achieved a clear improvement in the financial result. Even though all these effects are still insufficiently reflected in the Group result, we are nevertheless in the process of expanding our good position as a modern media group with a focus on the Sports division."

Outlook for the 2019 financial year

The Management Board of Constantin Medien AG confirms its previous Group targets for the 2019 financial year. At present, it continues to anticipate Group revenues of between EUR 105 million and EUR 125 million and Group earnings attributable to shareholders of between EUR +0.5 million and EUR -3.0 million (considering holding costs as well as the financial result and taxes). The focus continues to be on improving profitability. The Management Board expects the live and highlight rights to the DFB Cup, which will be added in the second half of 2019 onwards, as well as positive developments in the digital sector and at PLAZAMEDIA, to boost revenues. However, these will be offset by a decrease in TV advertising revenues due to the discontinuation of the rights to the UEFA Europa League.

The quarterly statement der Constantin Medien AG for the first quarter of 2019 is available on the Company's website (

Contact PR:
Constantin Medien AG, Michael Röhrig, Tel.: +49 (0) 89 99 500 461, Fax: +49 (0) 89 99 500 466, email:

NewMark Finanzkommunikation GmbH, Dr Charlotte Brigitte Looß, Tel.: +49 (0) 69 94 41 80 63, E-Mail:

Contact IR:
Constantin Medien AG, Stéphane Winzenried, Tel.: +49 (0)89 99 500 803, Fax: +49 (0)89 99 500 371, email:

Constantin Medien AG, Münchener Straße 101g, 85737 Ismaning, Tel.: +49 (0)89 99 500 0, Fax: +49 (0)89 99 500 111

09.05.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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