Positive performance: In the medium term, revenues are expected to increase to around € 100 million, accompanied by an EBIT margin of 10%. As suggested, the earnings before tax (EBT) of € –6.5 million were not as good, due to group restructuring.
AD-HOC: _wige anticipates positive performance in 2017
Cologne, 07. March 2017.
In the current financial year, _wige MEDIA AG expects revenues of around € 60 million, EBITDA of € 2.7 million and earnings before tax (EBIT) of € 1.5 million. In the medium term, revenues are expected to increase to around € 100 million, accompanied by an EBIT margin of 10%. The company’s Management Board has today approved the respective medium-term planning. _wige MEDIA AG will benefit from a corporation and trade tax loss carryforward of around € 45 million at year-end 2016. In line with the forecast, the provisional, as yet unaudited, 2016 annual financial statements, which include the discontinued broadcast business respectively, report revenues of around € 60 million due to group restructuring and earnings before tax (EBT) of € –6.5 million. As part of the Group’s restructuring process, the company sold _wige BROADCAST gmbh, a loss-making business with TV production for domestic and international broadcasters, associations and organisers, as well as _wige SOLUTIONS gmbh, a low-margin and capital intensive media technology business in their entirety. In the future, _wige MEDIA AG intends to grow in the scalable digital business, in the high-margin international project business, as well as in business with live events.