BERLIN—Prosiebensat 1 Media SE has revised lower its 2022 core earnings outlook after acquiring the remaining 50 percent of shares in streaming service Joyn from Warner Bros. Discovery, the German media company said on Tuesday.
The company expects the full consolidation of Joyn to make a 25-million-euro dent in 2022 adjusted earnings before interest, tax, depreciation, and amortization (EBITDA).
As a result, it revised down its outlook for 2022 adjusted EBITDA to 780 million euros, with a variance of plus/minus 25 million euros, versus a previously forecast 805 million euros plus/minus 25 million euros.
The group, however, stuck to its previous 2022 forecast for adjusted net income of around 4.375 billion euros ($4.45 billion), with a variance of plus/minus 75 million euros, largely in line with the previous year….