- Performance in line with
expectations and the 2017 annual target
- Growth across the Group’s business
segments
- New operational developments in line
with the strategic plan
Regulatory News:
Mediawan (Ticker: MDW – ISIN: FR0013247137) (Paris:MDW),
an independent European audiovisual content platform, announces its
revenue for the 3rd quarter of 2017.
Revenue for the 3rd quarter of 2017 came to €33.4 million,
giving a proforma total of €120.2 million for the first 9 months of
2017 (with Groupe AB consolidated as of January 1), up +2.3% on the
previous year.
This performance reflects the delivery schedule of audiovisual
programs and right entitlements over the 3rd quarter, as these
elements can lead to significant changes in revenue from one
quarter to the next. Revenue is in line with management’s
expectations and annual targets.
In €
millions 2017 2016 Growth
Third quarter (3 months) 33.4 33,4 +0.0% September 30, 2017 (9
months) - reported 72.0 n.s. n.s. September 30, 2017 (9 months) -
proforma 120.2 117.5 +2.3%
NB:
- Reported figures include 6 months of activity for Groupe AB
(consolidated on March 31, 2017) and 3 months of activity for
CC&C and Editions du Lagon (consolidated on July 1, 2017).
- Proforma figures are calculated with Groupe AB consolidated as
of January 1, 2016 and 2017.
Pierre-Antoine Capton, Mediawan’s Chairman of the Board, says:
“The growth recorded by all of our business segments, driven by the
success of our numerous initiatives, of which our productions, and
our ability to attract and integrate complementary talents, are
markers of the good execution of our growth strategy. Our ongoing
projects and recent successes, notably the agreements signed with
major international broadcasters that illustrate the ability of
France’s high-quality productions to shine globally, are one of the
pillars of our future growth.”
- Change in revenue by business
segment
The Group’s performance at September 30, 2017 was characterized
by the growth by the Channels & Digital segment, +2.6% to €79.8
million, and the Production & Distribution segment, +1.7% to
€40.3 million.
Proforma 9-month revenue
In €
millions 9M 2017 9M 2016
Growth Channels & Digital 79.8 77.8 +2.6% Production
& Distribution 40.3 39.7 +1.7%
Revenue
120.2 117.5 +2.3%
Over the third quarter of 2017 alone, Mediawan recorded revenue
of €33.4 million, in line with expectations. The variation in
activity reflected the usual seasonal effect, with a traditional
slowdown in the advertising market in July and August, and a
correlation with the delivery schedule for audiovisual programs as
well as the date of rights entitlements.
3rd quarter revenue
In €
millions Q3 2017 Q3 2016
Growth Channels & Digital 25.6 24.4 +5.0% Production
& Distribution 7.7 8.9 (13.5)%
Revenue
33.4 33.4 +0.0%
- The Channels & Digital segment saw revenue increase
by +5.0% versus 2016, notably due to:
i. an increase in royalty revenue, mainly as
a result of an extension of the distribution of channels &
services; and
ii. a solid upturn in the advertising
market.
- The Production & Distribution segment was down by
(13.5)% on the same quarter of 2016.
i. concerning production, no significant
program deliveries were planned during the 3rd quarter (in line
with the 2017 annual schedule);
ii. furthermore, distribution sales are
structurally cyclical, and vary according to renewal dates and the
end of rights for programs in the catalogue.
Governance and appointments
On September 25, 2017, the Supervisory Board unanimously
approved the appointment of Mr. Pierre Lescure as Chairman of the
Supervisory Board and Mrs. Jacaranda Caracciolo as an independent
member of this Supervisory Board. These appointments follow the
death Mr. Pierre Bergé, member and Chairman of the Supervisory
Board, on September 8, 2017.
External growth
On July 11, 2017, Mediawan, via its Groupe AB subsidiary,
completed the acquisition of the 35% of minority interests in
television channel RTL9.
On July 20, 2017, Mediawan, via its Groupe AB subsidiary,
completed the acquisition of an 80% stake in CC&C and Editions
du Lagon, which specialize in the audiovisual production of
historical documentaries.
Operational developments
During the 3rd quarter, Mediawan continued to implement its
organic growth strategy, notably with:
- the launch of television channel
ABXplore in Belgium, which is devoted to entertainment
documentaries and focuses on themes such as adventure, automotive
and extreme crafts;
- the finalization of an exclusive TV
partnership with Activision Blizzard, global video game leader,
according to the terms of which:
- Mediawan will own the exclusive
French-speaking European TV broadcasting rights for the Activision
Blizzard franchises. The latter notably include some of the world’s
most popular games such as Call of Duty, Hearthstone and World of
Warcraft;
- from December 2017, Mediawan will
create, on one of its channels, two 3-hour blocks of programs
entirely devoted to eSport and showing the highlights of
competitions based on the Activision Blizzard franchises;
- moreover, for Mediawan, the agreement
also foresees the possibility of launching an eSport channel that
will be the exclusive broadcaster of Activision
Blizzard programs;
- An acceleration in international sales,
notably with the sale of the worldwide rights to police series “La
Mante” to Netflix and the sale of science fiction series “Missions”
on AMC Networks.
Next financial press release: 2017 annual results will be
published in March 2018.
About Mediawan
Mediawan was incorporated in December 2015 as a Special Purpose
Acquisition Company (SPAC) for the purpose of acquiring one or more
operating businesses or companies in the traditional and digital
media content and entertainment industries in Europe. The Company
was formed by Pierre- Antoine Capton, Xavier Niel and Matthieu
Pigasse, and raised €250 million in April 2016 from an initial
public offering on the regulated market of Euronext Paris.
In March 2017, Mediawan acquired Groupe AB and became present in
the content and media industries. Founded in 1977, Groupe AB is a
leading independent editor, producer and distributor of audiovisual
content in French-speaking Europe. It is primarily involved in
producing and distributing series, television movies, cartoons and
documentaries and in editing TV channels and bundled digital
services. The group has a portfolio of 19 channels, widely
distributed in French-speaking Europe and Africa. Groupe AB is one
of the largest and most diversified content managers in France,
with about 12,000 hours of programming in library and internal
production of about 80 hours per year. In 2016, Groupe AB achieved
adjusted revenues and EBITDA of, respectively, €160m and €37m.
Further information is available on Mediawan’s website
(www.mediawan.fr) and on Groupe AB’s website
(www.groupe-ab.fr).
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