DGAP-Adhoc: Ströer SE & Co. KGaA: After an excellent first quarter in 2020, Ströer is optimally prepared for the coronavirus crisis - effects on revenue and earnings expected for fiscal year 2020
DGAP-Ad-hoc: Ströer SE & Co. KGaA / Key word(s): Change in Forecast/Miscellaneous After an excellent first quarter in 2020, Ströer is optimally prepared for the coronavirus crisis - effects on revenue and earnings expected for fiscal year 2020 - Low leverage ratio of 1.44 at the end of 2019, with high liquidity reserves - Highly variable cost basis in the OOH business - Stable cash flows from online business segments, some of which stand to benefit from the crisis Following 29 consecutive record quarters and an excellent first quarter in 2020, Ströer is optimally prepared in every respect for the far-reaching consequences anticipated from the coronavirus crisis. Overview of the most important points: Ströer's business update as of 19 March 2020 Ströer's prospects for the remaining quarters of fiscal year 2020 We do not currently expect the coronavirus crisis to have a negative impact on our medium-term business forecast from 2021. We plan to issue a more detailed update on our current business development for 2020 on 30 March together with our final full-year figures for 2019. Ströer's OOH Plus strategy demonstrates unique strength even in times of the coronavirus At the same time, we currently expect our subsidiary ASAM to see a very robust development comparable to the prior year and even further growth at Statista despite the coronavirus crisis. Ströer's special OOH business model also safeguards cash flow in the crisis On the revenue side: B) The campaign business already booked for the second quarter of 2020 is also supported in the German market by a strict prohibition on cancellation, which safeguards revenue already booked for an average of 60 days in advance. This means we have already secured some 50% of the originally expected revenue for the second quarter in our books. For the third quarter, we expect a significantly improved business landscape compared to the current situation. On the cost side: D) Over 90% of Ströer's rent for OOH advertising units is largely determined using a revenue-based method and therefore also ranges up or down in line with the earnings development. In the case of leases under which Ströer pays a fixed or minimum rent, we expect our rent to decrease in line with the temporary substantial reductions in reach. We have already agreed on initial arrangements with some lessors. A) Close monitoring of all health-related questions and implementation of both proactive and reactive measures to protect our employees (starting as early as mid-February) Ströer's sound financial situation Contact: Press contact: Marc Sausen Ströer SE & Co. KGaA Director Corporate Communications Ströer-Allee 1 | D-50999 Cologne Telephone: +49 (0)2236 - 96 45-246 Fax: +49 (0)2236 - 96 45-6246 E-Mail: [email protected] IR Contact: Christoph Löhrke Ströer SE & Co. KGaA Head of Investor & Credit Relations Ströer-Allee 1 | D-50999 Köln Telephone: +49 (0)2236 / 96 45-356 E-Mail: [email protected]
19-March-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
Language: | English |
Company: | Ströer SE & Co. KGaA |
Ströer Allee 1 | |
50999 Köln | |
Germany | |
Phone: | +49 (0)2236.96 45 0 |
Fax: | +49 (0)2236.96 45 299 |
E-mail: | [email protected] |
Internet: | www.stroeer.com |
ISIN: | DE0007493991 |
WKN: | 749399 |
Indices: | SDAX |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1002523 |
End of Announcement | DGAP News Service |
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1002523 19-March-2020 CET/CEST
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