FRANKFURT (Dow Jones) – ProSiebenSat1 Media SE is postponing the presentation of its annual and consolidated financial statements and possibly also the general meeting. The reason given by the MDAX group was regulatory issues in connection with the business of Jochen Schweizer mydays, which belongs to the Commerce & Ventures segment.
Based on the results of an external audit, the media group assumes that the business activities of its two subsidiaries Jochen Schweizer GmbH and mydays GmbH, which mainly consist of the sale of vouchers, fall under the Payment Services Supervision Act. The company is therefore currently examining an adjustment to the business model of Jochen Schweizer mydays.
These circumstances affect the ongoing audit work for the annual and consolidated financial statements, so that the balance sheet press conference cannot take place on March 2nd as planned. As a result of the later publication of the annual and consolidated financial statements, the date of the Annual General Meeting, which was previously planned for May 2nd, may also have to be postponed.
In relation to the group’s external sales, the business activities of Jochen Schweizer mydays Group (without Regiondo) accounted for 1.6 percent in 2021 with 73 million euros. The earnings contribution of Jochen Schweizer mydays Group (without Regiondo) was around minus 0.1 percent in 2021 with an adjusted EBITDA of minus 1 million euros.
According to ProSiebenSat1, the annual forecast remains unchanged.
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DJG/brb/jhe
(END) Dow Jones Newswires
February 28, 2023 12:52 ET (17:52 GMT)
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