DGAP-Ad-hoc: Constantin Medien AG / Key word(s): Change in Forecast
Constantin Medien AG: Forecast adjustment for full year 2017. Structured, competitive bidding process ended: No sale of Sport1 GmbH and Sport1 Media GmbH

29-Sep-2017 / 20:31 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


Disclosure of an inside information according to Article 17 MAR

Keyword: Change in Forecast

Constantin Medien AG:
Forecast adjustment for full year 2017

Structured, competitive bidding process ended: No sale of Sport1 GmbH and Sport1 Media GmbH


Ismaning, September 29, 2017 - In the Constantin Medien Group, due to the deconsolidation of Highlight Communications AG effective June 12, 2017, the sales as well as the earnings attributable to shareholders of the Highlight Communications group no longer apply from this date. The deconsolidation of Highlight Communications AG resulted in an unscheduled, non-cash, non-recurring income of EUR 37.3 million. An opposite effect was provided by unplanned costs, in particular for severance pay for former Board Members, special expenses for legal advice as well as for the upcoming special audits agreed by the Annual General Meeting and for the special audit on Formula 1. In the Segment Sports, the Management Board now expects a significant decline in sales year-on-year and a negative EBIT, due among other things to the latest indications on the development of the TV and digital advertising business of the SPORT1 platforms and on the business development in the PLAZAMEDIA group.
 

As a result of the deconsolidation of Highlight Communications AG and the below-target performance of the Segment Sports as well as the aforementioned unplanned costs, the Management Board is currently assuming Group sales of between EUR 250 million and EUR 280 million (previously between EUR 480 million and EUR 520 million). Taking into account the holding costs as well as the financial expenses and taxes, the Management Board expects in total a higher Group result attributable to shareholders of between EUR 7.0 million and EUR 10.0 million (previously between EUR 0.5 million and EUR 3.5 million). If the general meeting of Highlight Communications AG decides on a dividend, the Group result attributable to shareholders will increase by the dividend right of Constantin Medien AG if business performance remains the same.
 

Furthermore, the Management Board of Constantin Medien AG today decided to end the structured, competitive bidding process regarding a possible sale of Sport1 GmbH and Sport1 Media GmbH with immediate effect. As the Constantin Medien Group concentrates on the Segment Sports, its focus lies particularly on the strategic and operative further development of the 360 sports platform SPORT1 and the production company PLAZAMEDIA.


About Constantin Medien AG:
ISIN:
DE0009147207, DE000A1R07C3
WKN: 914720, A1R07C
Listed: Regulated Market (Prime Standard) in Frankfurt, Open Market in Berlin, Düsseldorf, Hamburg, Munich, Stuttgart and Tradegate Exchange

Contact:
Contact PR:
Constantin Medien AG, Sabine Lais | Michael Röhrig, Tel.: +49 (0) 89 - 99 500 461,
Fax: +49 (0) 89 - 99 500 466, E-mail: sabine.lais@constantin-medien.de

Contact IR:
Constantin Medien AG, Stéphane Winzenried, Tel.: +49 (0)89 - 99 500 803,
Fax: +49 (0)89 - 99 500 371, E-mail: ir@constantin-medien.de

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


29-Sep-2017 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de


Language: English
Company: Constantin Medien AG
Münchener Straße 101 g
85737 Ismaning
Germany
Phone: 089 / 99500-436
Fax: 089 / 99500-433
E-mail: ir@constantin-medien.de
Internet:http://www.constantin-medien.de
ISIN: DE0009147207, DE000A1R07C3
WKN: 914720, A1R07C
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange

 
End of Announcement DGAP News Service

614765  29-Sep-2017 CET/CEST

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