ProSiebenSat.1: shares up slightly after guidance confirmed

(CercleFinance.com) - German TV group ProSiebenSat.
1 posted a slight rise in organic revenue for 2018, pretty much in line with forecasts, which saw its shares rise on Thursday.

As expected, 2018 revenues were down 2%, at 4 billion euros, due to the deconsolidation of the travel portfolio and video-on-demand portal maxdome.

However, adjusted for consolidation effects, ProSiebenSat.1's revenues rose slightly (+1%), the group said.

Over the past year, adjusted EBITDA fell by 4% to 1 billion euros, while adjusted net income declined by 2% to 541 million euros, it added.

After a "solid start" to the year, ProSiebenSat.1 said that it continues to target mid-single-digit sales growth in 2019, with an adjusted EBITDA margin of between 22% and 25%.

Investors seemed to like this guidance, with the shares up 1.2% at 16.3 euros in Frankfurt this morning.

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