In 2017, EBITDA target set at EUR 2.7 million and EBIT at EUR 1.5 million. Strong growth planned in digital business. In the medium term, revenues of EUR 100 million and EBIT margin of 10% envisaged.
CN: Restructuring completed in 2016
Cologne, 28 April 2017.
The_wige GROUP completed the process of restructuring in fiscal 2016, as scheduled. With revenues of EUR 56.6 million (effects on group of the spin-off of _wige Broadcast gmbh: EUR -3.1 million in revenues), the company generated a pre-tax result (EBT) of around EUR -6.5 million (spin-off effect: EUR -2.5 million), as announced on March 7, 2017. The Group’s consolidated result came in at EUR -6.4 million. The consolidated financial statements have been posted on the homepage of _wige MEDIA AG. In 2017, _wige anticipates revenues of around EUR 60 million, EBITDA of EUR 2.7 million and EBIT of EUR 1.5 million. In the medium term, annual revenues are expected to grow to around € 100 million, with an EBIT margin of 10%. _wige MEDIA AG will benefit from a corporation and trade tax loss carryforward which amounted to approximately € 45 million at year-end 2016.
_wige grows with scalable digital business
In the future, _wige intends to grow in the scalable digital business, in the high-margin international project business, as well as in business with live events. In partnership with the German Football Association (DFB), the group will be equipping German amateur football clubs with special video technology that enables games to be transmitted live in a high quality and fully automatically using the new “sporttotal.tv” platform. Allianz Deutschland AG, Deutsche Post AG and Telekom Deutschland GmbH together with Microsoft provide support for sporttotal.tv as partners, with BILD as the media partner. Spectators can, for instance, use the sporttotal app to direct how they view a game, determine the perspective and share scenes on social media. As early as the current 2016/2017 season, 50 clubs in Northern Regional League as well as in the south and north Bavarian leagues will be equipped with the systems in stages.
The streaming offering can be accessed via the sporttotal app as well as through sporttotal.tv, BFV.de and FUSSBALL.DE, the DFB’s platform for amateur football.