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Ströer Media AG: Strong digital growth drives the Group's revenue in the first six months

DGAP-News: Ströer Media AG / Key word(s): Quarter Results
Ströer Media AG: Strong digital growth drives the Group's revenue in
the first six months

20.08.2014 / 07:25

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- Consolidated revenue up 18.5% to EUR 334.7m

- Digital revenue (Online) quintupled to EUR 51.7m

- Operational EBITDA grows 21.9% to EUR 57.8m

- Adjusted earnings surge some 76% to EUR 17.3m

Ströer Media AG repeated the positive business performance of the first
quarter, building on it with significant growth in the second three months
as well. Consolidated revenue increased by 18.5% to EUR 334.7m in the first
half of 2014. Organic growth was also robust, growing 11.1% in Q2. The
primary driver of this positive development was digital revenue, which
quintupled on the prior year, coupled with strong organic growth of more
than 50% from a low starting basis. Thanks to a series of operational
measures, the poster business also contributed to the growth of the Group
with an encouraging revenue increase.

With its combined strengths as a fully integrated digital marketer and a
strong, established provider of out-of-home advertising, Ströer is in a
position to boost its relevance among advertising customers and agencies
and leverage synergies for the entire Group.

Operational EBITDA was up a significant 21.9% in the first half of the year
to EUR 57.8m. The operational EBITDA margin also improved to 16.9% from
16.4% in the prior year. One particular highlight is the steep climb in net
adjusted profit by around 76% to EUR 17.3m.

The favorable business performance also had a positive knock-on effect on
the financial position. Despite business combinations and dividend
payments, the leverage ratio fell substantially: the dynamic leverage ratio
now stands at approximately 2.5.

"We are very pleased with the first six months. We sustained the momentum
from the beginning of the year and achieved significant improvements in all
key financials. A particular achievement is the large increase in net
adjusted profit. At the same time, we have made a good start to the second
six months and are pleased that the integration of our various digital
acquisitions is progressing so successfully," said Udo Müller, CEO of
Ströer.

Operating segments

Ströer Germany
In the first half of 2014, the Ströer Germany segment increased its revenue
by 6.8% against the 2013 comparative period to EUR 218.6m. The segment's
operational EBITDA also increased substantially by 6.4% to EUR 45.7m. At