Munich, September 24, 2008. The ProSiebenSat.1 Group expects to fall short of its Group earnings target for 2008. Recurring EBITDA for 2008 is assumed to be in the range of EUR 670 million to EUR 700 million, given the lack of visibility in the German advertising market.
After a good start in July and August, the trading situation in September and early data for October indicate that the performance of the German Free TV business will be below expectations in the second half of 2008.
ProSiebenSat.1 attributes its revenue performance in the German TV advertising market primarily to the continuing impact of the implementation of the sales model in 2008 and to deteriorating conditions in the German economy.
This does not affect the Group’s financing arrangements.
