09/03/2010
Ströer Out-of-Home Media AG Increases Stake in Turkish Joint Venture
Ströer Out-of-Home Media AG / Joint Venture
03.09.2010 15:52
Dissemination of a Corporate News, transmitted by
DGAP - a company of EquityStory AG.
The issuer / publisher is solely responsible for the content of this announcement.
Cologne, September 3, 2010
Ströer Out-of-Home Media AG Increases Stake in Turkish Joint Venture Stake in Ströer Kentvizyon increased from 50 to 90 percent / Full consolidation as of September 1, 2010
Ströer Out-of-Home Media AG ('Ströer'), one of the leading providers of out-of-home advertising in Europe, headquartered in Cologne, has increased its stake in the Turkish joint venture Ströer Kentvizyon from 50 to 90 percent as planned. The purchase price is at EUR55 million. 'With this step, we have completed the first of our growth projects announced in the course of the IPO. With the reinforcement of our position in the largest European growth market, we will now benefit even stronger from the convincing prospects of the Turkish out-of-home advertising market,' says Udo Müller, co-founder and CEO of the Ströer Group.
The agreement reached in March 2010 to increase the stake was initially subject to various conditions. Following the fulfilment of the conditions, the transaction was concluded as planned and the shares have been transferred. As of September 1, 2010, the Turkish activities will be fully consolidated in the Ströer Group. In the first half of 2010, the business in Turkey, which was consolidated at 50 percent so far, achieved sales revenue growth of 49.4 percent to EUR46.9 million (H1 2009: EUR31.4 million). The operational EBITDA even increased by 83.1 percent to EUR12.6 million (H1 2009: EUR6.9 million). 'The fact that we specifically expanded our advertising media portfolio in Turkey before and during the financial crisis has now paid off,' says Alfried Bührdel, CFO and Executive Vice President of the Ströer Group.
In terms of sales revenue, Ströer is the number one out-of-home advertiser in Turkey. The company markets over 43,000 advertising faces in 32 cities. 'The increase in the stake shows that the Ströer Group is convinced of the growth opportunities in Turkey,' says Murat Ilbak, CEO of Ströer Kentvizyon. 'We are already very well positioned in the Turkish market and have additionally won the tender in Izmir this year. Moreover, with product innovations such as the outdoor advertising format 'OutdoorTV', we are advancing the development of the Turkish out-of-home advertising market.' High occupancy rates of the large-format LED screens and positive customer responses are confirming Ströer's decision to further expand the Turkish network of 'OutdoorTVs' in the future.
About Ströer
Ströer Out-of-Home Media AG is a specialist for all forms of outdoor advertising - ranging from classic posters, advertising in waiting areas and mass transit to digital and interactive media. The company markets over 280,000 advertising spaces and is one of the leading out-of-home advertisers in Europe: In terms of sales revenue, Ströer is the leader in its core markets of Germany, Turkey and Poland (following the acquisition of News Outdoor Poland). In these markets the company provides its clients with extensive networks for nationwide advertising campaigns. The Ströer Group has some 1,600 employees at over 60 locations. The company's portfolio comprises a variety of different outdoor advertising products. In terms of advertising media and street furniture, the company values top quality, innovation and superior design. With its products, Ströer sets new standards of design of public spaces. Ströer street furniture has already received 26 international awards. More information about the company is available at www.stroeer.com
Press contact:
Petra Kaiser
Ströer Out-of-Home Media AG
Corporate Communication
Ströer Allee 1 | D-50999 Cologne
Telephone: +49 (0)2236 - 96 45-246
Fax: +49 (0)2236 - 96 45-6246
E-Mail: pkaiser@stroeer.de
IR contact:
Stefan Hütwohl
Ströer Out-of-Home Media AG
Director Group Finance and Investor Relations
Ströer Allee 1 | D-50999 Cologne, Germany
Phone: +49 (0)2236 / 96 45-338
Fax: +49 (0)2236 / 96 45-6338
E-Mail: ir@stroeer.de
03.09.2010 Ad hoc announcement, Financial News and Press Release distributed by DGAP. Media archive at www.dgap-medientreff.de and www.dgap.de
Language: English
Company: Ströer Out-of-Home Media AG
Ströer Allee 1
50999 Köln
Deutschland
Phone: +49 (0)2236.96 45 0
Fax: +49 (0)2236.96 45 299
E-mail: info@stroeer.com
Internet: www.stroeer.de
ISIN: DE0007493991
WKN: 749399
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Hamburg, München, Düsseldorf, Berlin, Stuttgart
End of News DGAP News-Service
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Ströer Out-of-Home Media AG Increases Stake in Turkish Joint Venture
Ströer Out-of-Home Media AG / Joint Venture
03.09.2010 15:52
Dissemination of a Corporate News, transmitted by
DGAP - a company of EquityStory AG.
The issuer / publisher is solely responsible for the content of this announcement.
Cologne, September 3, 2010
Ströer Out-of-Home Media AG Increases Stake in Turkish Joint Venture Stake in Ströer Kentvizyon increased from 50 to 90 percent / Full consolidation as of September 1, 2010
Ströer Out-of-Home Media AG ('Ströer'), one of the leading providers of out-of-home advertising in Europe, headquartered in Cologne, has increased its stake in the Turkish joint venture Ströer Kentvizyon from 50 to 90 percent as planned. The purchase price is at EUR55 million. 'With this step, we have completed the first of our growth projects announced in the course of the IPO. With the reinforcement of our position in the largest European growth market, we will now benefit even stronger from the convincing prospects of the Turkish out-of-home advertising market,' says Udo Müller, co-founder and CEO of the Ströer Group.
The agreement reached in March 2010 to increase the stake was initially subject to various conditions. Following the fulfilment of the conditions, the transaction was concluded as planned and the shares have been transferred. As of September 1, 2010, the Turkish activities will be fully consolidated in the Ströer Group. In the first half of 2010, the business in Turkey, which was consolidated at 50 percent so far, achieved sales revenue growth of 49.4 percent to EUR46.9 million (H1 2009: EUR31.4 million). The operational EBITDA even increased by 83.1 percent to EUR12.6 million (H1 2009: EUR6.9 million). 'The fact that we specifically expanded our advertising media portfolio in Turkey before and during the financial crisis has now paid off,' says Alfried Bührdel, CFO and Executive Vice President of the Ströer Group.
In terms of sales revenue, Ströer is the number one out-of-home advertiser in Turkey. The company markets over 43,000 advertising faces in 32 cities. 'The increase in the stake shows that the Ströer Group is convinced of the growth opportunities in Turkey,' says Murat Ilbak, CEO of Ströer Kentvizyon. 'We are already very well positioned in the Turkish market and have additionally won the tender in Izmir this year. Moreover, with product innovations such as the outdoor advertising format 'OutdoorTV', we are advancing the development of the Turkish out-of-home advertising market.' High occupancy rates of the large-format LED screens and positive customer responses are confirming Ströer's decision to further expand the Turkish network of 'OutdoorTVs' in the future.
About Ströer
Ströer Out-of-Home Media AG is a specialist for all forms of outdoor advertising - ranging from classic posters, advertising in waiting areas and mass transit to digital and interactive media. The company markets over 280,000 advertising spaces and is one of the leading out-of-home advertisers in Europe: In terms of sales revenue, Ströer is the leader in its core markets of Germany, Turkey and Poland (following the acquisition of News Outdoor Poland). In these markets the company provides its clients with extensive networks for nationwide advertising campaigns. The Ströer Group has some 1,600 employees at over 60 locations. The company's portfolio comprises a variety of different outdoor advertising products. In terms of advertising media and street furniture, the company values top quality, innovation and superior design. With its products, Ströer sets new standards of design of public spaces. Ströer street furniture has already received 26 international awards. More information about the company is available at www.stroeer.com
Press contact:
Petra Kaiser
Ströer Out-of-Home Media AG
Corporate Communication
Ströer Allee 1 | D-50999 Cologne
Telephone: +49 (0)2236 - 96 45-246
Fax: +49 (0)2236 - 96 45-6246
E-Mail: pkaiser@stroeer.de
IR contact:
Stefan Hütwohl
Ströer Out-of-Home Media AG
Director Group Finance and Investor Relations
Ströer Allee 1 | D-50999 Cologne, Germany
Phone: +49 (0)2236 / 96 45-338
Fax: +49 (0)2236 / 96 45-6338
E-Mail: ir@stroeer.de
03.09.2010 Ad hoc announcement, Financial News and Press Release distributed by DGAP. Media archive at www.dgap-medientreff.de and www.dgap.de
Language: English
Company: Ströer Out-of-Home Media AG
Ströer Allee 1
50999 Köln
Deutschland
Phone: +49 (0)2236.96 45 0
Fax: +49 (0)2236.96 45 299
E-mail: info@stroeer.com
Internet: www.stroeer.de
ISIN: DE0007493991
WKN: 749399
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Hamburg, München, Düsseldorf, Berlin, Stuttgart
End of News DGAP News-Service
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