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ProSiebenSat.1 Media Q3 Profit Down, Revenues Up; Maintains FY19 View

German commercial broadcaster ProSiebenSat.1 Media AG (PBSFF.PK) reported Thursday that its third-quarter net income attributable to shareholders plunged to 34 million euros from last year's 126 million euros.

Adjusted net income was 46 million euros, compared to 75 million euros a year ago. Adjusted earnings per share were 0.20 euro, compared to 0.33 euro last year.

EBITDA declined to 122 million euros from last year's 187 million euros, as expected, due to investments recognized as expense in making the Entertainment business fit for the future and in the further growth of NuCom Group.

Revenues, however, increased 4 percent to 926 million euros from 892 million euros a year ago.

Further, the company maintained financial targets for the full-year 2019. ProSiebenSat.1 continues to aim for a revenue increase in the mid-single-digit percentage range and an adjusted EBITDA margin between 22 percent and 25 percent.

Over the next around five years, ProSiebenSat.1 Group intends to further increase the digital business's share in revenues to 50 percent.

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