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As of 8:10 PM 04/15/14 All times are local (Market data is delayed by at least 15 minutes).

prosieben sat.1 media ag-reg (PBSFF) Key Developments

ProSiebenSat.1 Media Refinances Debt Facilities

ProSiebenSat.1 Media completed a refinancing of its debt facilities. As part of the refinancing, it has issued 7-year unsecured notes worth EUR 600 million, due in April 2021. It has also entered into a new EUR 2 billion senior unsecured syndicated facilities agreement with maturity in April 2019. The new agreement is comprised of a EUR 1.4 billion 5-year senior unsecured bullet term loan and a five year senior unsecured revolving credit facility (RCF) in the amount of EUR 600 million. The proceeds the notes and the new term loan were used to refinance and replace in full the senior secured bullet term debt in the amount of EUR 1.86 billion.

ProSiebenSat.1 Signs Deal with Streaming Service Zattoo

ProSiebenSat.1 Media AG offer six channels on the online platform of Zattoo, ProSiebenSat.1. In addition to the key Pro Sieben and Sat.1 channels, Zattoo will also be streaming Kabel eins, Sixx, Sat.1 Gold and Pro Sieben Maxx.

ProSiebenSat.1 Media AG Presents at Deutsche Bank 22nd Annual Media, Internet and Telecom Conference, Mar-10-2014

ProSiebenSat.1 Media AG Presents at Deutsche Bank 22nd Annual Media, Internet and Telecom Conference, Mar-10-2014 . Venue: The Breakers Hotel, One South County Road, Palm Beach, Florida, United States.

Deutsche Telekom Announces Partnership with ProSiebenSat.1

Deutsche Telekom has announced a partnership with ProSiebenSat.1 to give Entertain TV customers access to the Maxdome VoD platform from spring 2014. Maxdome offers users access to more than 50,000 titles. In addition, Entertain customers will also get access to the on-demand offerings of ProSiebenSat.1 group channels ProSieben, SAT.1, kabel eins, sixx, SAT.1 Gold and ProSieben MAXX.

ProSiebenSat.1 Media AG Reports Earnings Results for the Year 2013; Proposes Dividend for 2013; Reaffirms Earnings Guidance for 2014

ProSiebenSat.1 Media AG reported earnings results for the year 2013. For the year, revenues increased by more than 10%. At the same time, it is able to translate this into further improvement of recurring EBITDA and underlying net income. Revenues of continued operations increased by more than 10% to about EUR 2.6 billion. This positive development translated into recurring EBITDA increase of 6%, or about EUR 45 million in absolute terms. Underlying net income, as well as underlying EPS, have increased further by more than 6%. The underlying net income in 2012 was supported by a one-time tax benefit which led to tax rate of 28% versus about 30% in 2013. On a like-for-like basis, underlying net income would have increased by about 11%. In terms of free cash flow, it had achieved an improvement of almost 30% from EUR 256 million to EUR 330 million in 2013. Operating free cash flow adjusted for M&A, as well as the cartel fine payment in the first quarter is increased by 44% or more than EUR 127 million to EUR 416 million. Due to the positive development of free cash flow, net debt position improved by more than EUR 300 million to EUR 1.45 billion in 2013, even after bolt-on acquisition in the amount of EUR 60 million. The executive board intends to propose to supervisory board the payment of a dividend of EUR 1.47 per common share, which represents a payout ratio of 82.5% of underlying net income, in line with general dividend policy. Based on current share price, level dividend proposal represents an attractive dividend yield of 4.3%. The AGM will take place on June 26 and the dividend will be paid the day after, on June 27. The company announced that the financial targets for 2014 are based on the revenue growth assumptions for the 3 segments. In 2014, it is targeting, again, mid to high-single digit group revenue growth, as well as further increase of both recurring EBITDA and underlying net income.

 

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PBSFF Competitors

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Company Last Change
Atresmedia Corp de Medios de Comunicacion S.A. €11.67 EUR 0.00
Mediaset SpA €3.80 EUR -0.01
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Sky Deutschland AG €6.10 EUR -0.019
Societe Television Francaise 1 €12.78 EUR -0.30
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PBSFF

Industry Average

Valuation PBSFF Industry Range
Price/Earnings 19.0x
Price/Sales 2.6x
Price/Book 11.8x
Price/Cash Flow 22.3x
TEV/Sales 1.8x
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