(PRESS RELEASE) COLOGNE, 9-May-2019 — /EuropaWire/ — Ströer continues to focus on its core business. After selling Foodist and Mobile Performance, Ströer sold its stake in the Nordic company Conexus, which it had acquired in 2015. Conexus is the third successful sale of investments no longer belonging to its core business in this year.
Conexus, Mobile Performance and Foodist generated total annual revenue of approximately EUR 50 m and operational EBITDA of around EUR 5 m.
Simultaneously, Ströer increased its stake in Statista from 81.3% to 100% due to the unfaltering and extremely successful performance of the Hamburg-based operation. Statista’s management team headed by CEO Friedrich Schwandt will remain on board.
Christian Schmalzl, Co-CEO of Ströer commented: “We are pleased to be making faster headway than expected with our OOH plus strategy and focus first approach and to be able to present corresponding results. The increase in the Statista shareholding and the sale of some assets no longer included in the core business are pleasing highlights taken from an overall very promising start to 2019.”
“Despite the sales, we are confirming the guidance communicated and forecast organic revenue growth and an increase in EBITDA in the mid-single-digit percentage range for fiscal year 2019 as a whole,” adds Mr. Schmalzl
Ströer expects the structural upward trend for OOH to continue for at least another 10 years with growth rates of around 5%. OOH is being driven mainly by the ongoing digitalization and Ströer, as the first nationally operating OOH player, has developed a new growth strategy “OOH plus.” This is to ensure growth at the upper end of the expected structural market growth and increase the utilization of its infrastructure inventory. “OOH plus” enables better and above all more direct customer access as well as expected revenue growth that is well in excess of the market average.
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SOURCE: Ströer SE & Co. KGaA