10.11.2016 Ströer SE & Co. KGaA  DE0007493991

DGAP-News: Ströer continues on its profitable growth course in Q3

DGAP-News: Ströer SE & Co. KGaA / Key word(s): Quarterly / Interim Statement Ströer continues on its profitable growth course in Q3 10.11.2016 / 07:06 The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- PRESS RELEASE Ströer continues on its profitable growth course in Q3 - Revenue grows 38% in the first nine months of 2016 - Operational EBITDA rises 46% from EUR 122m to EUR 177m in the first nine months of 2016 - Adjusted earnings climb 68% in the first nine months of 2016, from EUR 53m to EUR 89m Cologne, 10 November 2016 Ströer continues on its profitable growth course once again in the third quarter of 2016. Revenue in the first nine months of 2016 rose by 38.4% from EUR 553.2m to EUR 765.7m. This is attributable to strong growth in the OOH Germany and Digital segments. The Ströer Group recorded organic revenue growth of 7.4% in the first nine months of 2016. Despite ongoing investments in local sales operations in Germany as well as further organic growth investments in the digital business, operational EBITDA soared by 45.7% from EUR 121.8m to EUR 177.5m. The operational EBITDA margin thus grew from 21.6% in the prior year to 22.9% at the end of the third quarter of 2016. Adjusted earnings for the first nine months of 2016 also developed exceedingly well, increasing by 67.7% from EUR 53.0m to EUR 88.9m. Free cash flow before acquisitions rose by 40.5% in the first nine months from EUR 37.3m to EUR 52.4m. In spite of considerable growth investments and acquisitions, the leverage ratio improved to 1.5 at the end of the third quarter of 2016 (prior year: 1.7). "Ströer has performed exceptionally well in the first nine months - we recorded strong increases in revenue and earnings. Our focus lies on organic growth opportunities in the online, mobile and out-of-home segments which are seeing the highest growth. Based on the annual meetings currently being held with our key accounts and agencies, we expect business to also continue to develop well in the coming year," says Udo Müller, CEO of Ströer. "We are confirming our current guidance of operational EBITDA of more than EUR 280m and consolidated revenue of EUR 1.15b for 2016. For 2017, we forecast consolidated revenue of between EUR 1.2b and EUR 1.3b and operational EBITDA of more than EUR 320m." Operating segments Digital The Ströer Digital segment was able to achieve a further significant increase in revenue across all product groups in the first nine months of the fiscal year. This included the most recent investments in the new Transactional product group. Revenue in the Digital segment was up from EUR 139.9m to EUR 333.4m in the first nine months of 2016 including organic revenue growth of 9.6%. Thanks to Ströer's digital strategy, the company is increasingly able to leverage synergies and economies of scale on both the revenue and cost side. At the same time, Ströer is also investing in the expansion of the fast-growing business models already in its portfolio. Operational EBITDA increased from EUR 37.8m to EUR 89.7m in the first nine months of 2016. The operational EBITDA margin came to 26.9%. Based on the ongoing business expansion in the digital segment, the figures can only be compared with those of the prior year to a limited extent. Out-of-Home Germany Operating business in the Out-of-Home Germany segment saw very robust growth once again in the third quarter. Revenue for the first nine months rose 8.6% from EUR 324.8m to EUR 352.8m. In terms of product groups, large formats in particular, which focuses on national as well as regional customer groups, grew significantly once again. This development is predominantly due to sustained high demand for traditional out-of-home products. On the one hand, a series of targeted national sales measures provided positive growth impetus, which was coupled with the ongoing expansion of the regional and local sales organization on the other. Operational EBITDA improved by 15.2% from EUR 78.7m to EUR 90.6m. The Operational EBITDA margin grew from 24.2% to 25.7%. Out-of-Home International The OOH International segment includes the Turkish and Polish out-of-home activities and the western European giant poster business of the blowUP group. The segment's revenue dipped 7.1% in the first nine months of the fiscal year, decreasing from EUR 105.7m to EUR 98.1m. This reduction is mainly attributable to the weak Turkish lira and the macroeconomic situation in Turkey, with the latter affecting the third quarter in particular. The market in Poland also continues to see little movement. The organic revenue for the OOH International segment was down 1.4% in the first nine months. In light of the above, operational EBITDA also decreased and stood at EUR 11.9m in the first nine months (prior year: EUR 15.3m) and the operational EBITDA margin came to 12.1% in the first nine months (prior year: 14.5%). Ströer is anticipating a rebound effect in the fourth quarter which should lead to low single-digit growth for the year as a whole in local currency. THE GROUP'S FINANCIAL FIGURES AT A GLANCE
                             Q3     Q3  Change  9M 2016  9M 2015  Change
                           2016   2015
Revenue1)          EUR m  263.3  189.8   38.7%    765.7    553.2   38.4%

       Ströer      EUR m  123.1   51.7  > 100%    333.4    139.9  > 100%
       OOH         EUR m  118.3  110.7    6.8%    352.8    324.8    8.6%
       OOH         EUR m   28.3   32.6  -13.1%     98.1    105.7   -7.1%

       Large       EUR m   78.0   76.3    2.2%    243.3    232.3    4.7%
       Street      EUR m   35.6   36.9   -3.5%    112.1    111.7    0.4%
       Transport   EUR m   15.3   13.6   12.1%     44.2     40.2    9.9%
       Display3)   EUR m   58.6   22.5  > 100%    169.6     62.9  > 100%
       Video3)     EUR m   23.1   22.9    0.7%     68.2     61.3   11.3%
       Transacti   EUR m   41.8    6.9  > 100%     97.9     18.2  > 100%
       Other2)     EUR m   14.1   13.7    3.5%     40.0     36.8    8.8%

       Organic         %    5.1   10.3              7.4      9.1

Gross profit5)     EUR m   82.2   51.6   59.1%    241.2    157.8   52.9%

Operational        EUR m   62.9   43.4   45.0%    177.5    121.8   45.7%
Operational            %   23.6   22.5             22.9     21.6
EBITDA6) margin
Adjusted EBIT7)    EUR m   36.7   25.4   44.5%    112.6     70.4   60.0%
Adjusted EBIT7)        %   13.8   13.2             14.5     12.5
Adjusted profit    EUR m   28.4   19.2   47.4%     88.9     53.0   67.7%
or loss for the
Adjusted             EUR   0.48   0.40   19.9%     1.60     1.08   47.4%
earnings per
Profit or loss     EUR m   13.1    6.7   96.9%     40.8     24.8   64.2%
for the
Earnings per         EUR   0.21   0.15   42.3%     0.73     0.51   43.4%

Investments        EUR m                           71.7     49.5   45.0%
(before M&A
Free cash flow     EUR m                           52.4     37.3   40.5%
(before M&A

                                                 30 Sep   31 Dec  Change
                                                   2016     2015
Total equity and   EUR m                        1,709.4  1,469.3   16.3%
Equity1)           EUR m                          655.1    679.6   -3.6%
Equity ratio           %                           38.3     46.3
Net debt14)        EUR m                          405.3    231.2   75.3%

Employees15)      number                          4,421    3,270   35.2%

1)     Joint ventures are consolidated using the equity method - in
       accordance with IFRS 11
2)     Joint ventures are
       (management approach)
3)     Revenue from the Ströer Digital
       segment and digital OOH revenue
       from other segments
4)     Excluding exchange rate effects and effects from the
       (de-)consolidation and discontinuation of operations (joint
       ventures are consolidated proportionately)
5)     Revenue less cost of sales (joint ventures are consolidated using
       the equity method - in accordance with IFRS 11)
6)     Earnings before interest, taxes, depreciation and amortization
       adjusted for exceptional items (joint ventures are consolidated
7)     Earnings before interest and taxes adjusted for exceptional
       items, amortization of acquired advertising concessions and
       impairment losses on intangible assets (joint ventures are
       consolidated proportionately)
8)     Adjusted EBIT before non-controlling interests net of the
       financial result adjusted for exceptional items and the
       normalized tax expense (joint ventures are consolidated
9)     Adjusted profit or loss for the period net of reported non-
       controlling interests divided by the number of shares outstanding
       (55,282,499; in Q3 2015: 48,869,784)
10)    Profit or loss for the period before non-controlling interests
       (joint ventures are consolidated using the equity method - in
       accordance with IFRS 11)
11)    Profit or loss for the period net of reported non-controlling
       interests divided by the number of shares outstanding
       (55,282,499; in Q3 2015: 48,869,784)
12)    Including cash paid for investments in intangible assets and
       property, plant and equipment and cash received from the disposal
       of intangible assets and property, plant and equipment (joint
       ventures are consolidated using the equity method - in accordance
       with IFRS 11)
13)    Cash flows from operating activities less investments (before M&A
       transactions) (joint ventures are consolidated using the equity
       method - in accordance with IFRS 11)
14)    Financial liabilities less derivative financial
       instruments and cash (joint ventures are consolidated
15)    Headcount of full and part-time employees (joint
       ventures are consolidated proportionately)

About Ströer Ströer SE & Co. KGaA is a leading digital multi-channel media company and offers advertising customers individualized and fully integrated premium communications solutions. In the field of digital media, Ströer is setting forward-looking standards for innovation and quality in Europe and is opening up new opportunities for targeted customer contact for its advertisers. The Ströer Group commercializes and operates several thousand websites in German-speaking countries in particular and operates approximately 300,000 advertising media in the out-of-home segment. It has approximately 4,400 employees at over 70 locations. In fiscal year 2015, Ströer SE generated revenue of EUR 824m. Ströer SE & Co. KGaA is listed in Deutsche Börse's MDAX. For more information on the company, please visit www.stroeer.com. Disclaimer This press release contains "forward looking statements" regarding Ströer SE & Co. KGaA ("Ströer") or the Ströer Group, including opinions, estimates and projections regarding Ströer's or the Ströer Group's financial position, business strategy, plans and objectives of management and future operations. Such forward looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of Ströer or the Ströer Group to be materially different from future results, performance or achievements expressed or implied by such forward looking statements. These forward looking statements speak only as of the date of this press release and are based on numerous assumptions which may or may not prove to be correct. No representation or warranty, express or implied, is made by Ströer with respect to the fairness, completeness, correctness, reasonableness or accuracy of any information and opinions contained herein. The information in this press release is subject to change without notice, it may be incomplete or condensed, and it may not contain all material information concerning Ströer or the Ströer Group. Ströer undertakes no obligation to publicly update or revise any forward looking statements or other information stated herein, whether as a result of new information, future events or otherwise. Contact: Press contact: Marc Sausen Ströer SE & Co. KGaA Director Corporate Communications Ströer-Allee 1 | D-50999 Cologne Telephone: +49 (0)2236 - 96 45-246 Fax: +49 (0)2236 - 96 45-6246 E-Mail: [email protected] IR Contact: Dafne Sanac Ströer SE & Co. KGaA Head of Investor & Credit Relations Ströer-Allee 1 | D-50999 Cologne Phone: +49 (0)2236 / 96 45-356 Fax: +49 (0)2236 / 96 45-6356 E-Mail: [email protected] --------------------------------------------------------------------------- 10.11.2016 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. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de --------------------------------------------------------------------------- Language: English Company: Ströer SE & Co. KGaA Ströer Allee 1 50999 Köln Germany Phone: +49 (0)2236.96 45 0 Fax: +49 (0)2236.96 45 299 E-mail: [email protected] Internet: www.stroeer.de ISIN: DE0007493991 WKN: 749399 Indices: MDAX Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange End of News DGAP News Service --------------------------------------------------------------------------- 518635 10.11.2016

Die wichtigsten Finanzdaten auf einen Blick
  2016 2017 2018 2019 2020 2021 2022e
Umsatzerlöse1 1.123,26 1.283,05 1.507,78 1.591,15 1.442,16 1.627,32 1.830,00
EBITDA1,2 251,58 306,50 511,14 503,97 430,22 507,35 573,00
EBITDA-Marge3 22,40 23,89 33,90 31,67 29,83 31,18 31,31
EBIT1,4 95,44 143,73 169,89 158,45 94,89 197,28 244,00
EBIT-Marge5 8,50 11,20 11,27 9,96 6,58 12,12 13,33
Jahresüberschuss1 71,95 98,47 -6,81 78,12 48,21 130,25 148,00
Netto-Marge6 6,41 7,67 -0,45 4,91 3,34 8,00 8,09
Cashflow1,7 236,34 252,38 426,03 446,29 380,28 426,46 408,00
Ergebnis je Aktie8 1,15 1,68 -0,27 0,98 0,62 2,14 2,35
Dividende8 1,10 1,30 2,00 2,00 2,00 2,25 2,00
Quelle: boersengefluester.de und Firmenangaben

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1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de

Wirtschaftsprüfer: KPMG

WKN Kurs in € Einschätzung Börsenwert in Mio. €
749399 46,500 Verkaufen 2.636,16
KGV 2023e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
23,25 31,28 0,74 45,23
7,60 6,18 1,62 8,41
Dividende '20 in € Dividende '21e in € Div.-Rendite '21e
in %
2,00 2,25 4,84 22.06.2022
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
18.05.2022 16.08.2022 10.11.2022 30.03.2022
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
0,86% -22,80% -32,90% -30,18%
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Medien (Dienstleistungen) , 749399 , SAX , XETR:SAX