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Ströer Out-of-Home Media AG: Ströer continues its growth path

DGAP-News: Ströer Out-of-Home Media AG / Key word(s): Final Results
Ströer Out-of-Home Media AG: Ströer continues its growth path

29.03.2012 / 07:15

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PRESS RELEASE
Ströer continues its growth path

  - Consolidated revenue up 8.6% in 2011 to EUR 577.1m

  - At 6.2%, organic growth in Germany outpaces entire advertising market

  - Operational EBITDA increases by 3.9% to EUR 132.3m

  - Operating cash flow more than triples to EUR 95.0m

  - Net debt down by 4.9% to 2.3 times operational EBITDA

  - Contract portfolio strengthened by winning 12 tenders, among other
    factors

  - Performance study confirms high reach of Out-of-Home-Channel

Cologne, 29 March 2012  Ströer Out-of-Home Media AG continued on its growth
path in fiscal year 2011, mainly due to its strong performance in Germany.
The Group´s revenue increased by 8.6% from EUR 531.3m in the prior year to
EUR 577.1m. Adjusted for increases in investments and exchange rate
effects, organic growth in the Group amounted to 4.8% (prior year: 7.5%).
Ströer´s revenue growth also lifted its key performance indicator,
operational EBITDA, by 3.9% in 2011 to EUR 132.3m (prior year: EUR 127.3m).
Operational EBITDA represents earnings before interest, taxes, depreciation
and amortization adjusted for one-time income and expense effects (such as
the cost of reorganization measures or changes in the investment
portfolio).

The operational EBITDA margin was 22.9% after 24.0% in the prior year due
to upfront costs for expanding the advertising media portfolio in Turkey.
Exchange losses of around EUR 15m reduced earnings for the period to EUR
-3.6m overall, compared with a high profit for the period of EUR 58.1m in
the prior year, which was due in particular to special effects relating to
the increase in the portfolio of investments in Ströer Kentvizyon. Adjusted
for these and similar measurement effects, profit for the period was up by
21.4% to EUR 40.3m (prior year: EUR 33.2m), confirming Ströer´s strong
performance.

In 2011, the Ströer Group reduced its net debt by 4.9% to 2.3 times (prior
year: 2.5 times) operational EBITDA. This effect is primarily due to the
sharp increase in free cash flow, i.e., the difference of EUR 38.0m between
operating cash flow and investment funds (prior year: EUR -68.2m).
Operating cash flow improved in particular, more than tripling from EUR
30.3m in 2010 to EUR 95.0m.

´We are shaping the future of out-of-home advertising. Our consistently
strong performance in winning concessions gives us a firm basis to continue
driving forward quality and innovation in out-of-home advertising. We are