_wige MEDIA AG, DE000A1EMG56

_wige MEDIA AG, DE000A1EMG56

18.07.2017 - 17:24:58

_wige MEDIA AG granted loan with additional funds of more EUR 2.5 million

Corporate News from 18 July 2017 _wige MEDIA AG, ISIN: DE000A1EMG56 / WKN: A1EMG5

_wige MEDIA AG granted loan with additional funds of more EUR 2.5 million

- "Important step in the direction of growth financing"

- First loan agreement in six years

Cologne, 18 July 2017. _wige MEDIA AG signed the first loan agreement today in six years with a major German bank. The company is to receive additional funds of up to EUR 2.5 million from Deutsche Postbank AG in the period through to June 2018 (under the draft agreement). The interest rate is 3 %. "Following the restructuring and the strategic realignment of the company, this is an important step in the direction of financing growth more efficiently," commented Peter Lauterbach, CEO of _wige MEDIA AG. As _wige MEDIA will already be turning a profit in the current year, despite the high level of investment in sporttotal.tv, its amateur football platform, and is aiming to achieve revenues in excess of EUR 100 million and an EBIT margin of more than 10 percent, the foundations for a new financing structure have been laid. "While we largely depended on capital increases in the years of our restructuring, and loan financing, for instance, was not possible, we will now be tapping further sources of financing to the benefit of our shareholders," Lauterbach says.

About _wige: _wige MEDIA AG (ISIN: DE000A1EMG56), headquartered in Cologne, is a technology and media company on a growth path in the scalable digital business with video platforms and communities, in the high-margin international project business, as well as in the live events business. Founded in 1979, it operates three high traffic sport portals for online sport videos and live streaming through sporttotal.tv, motorsporttotal.com and formel1.de, and is the market leader for online motor sports. A major driver of growth and revenue is the new "sporttotal.tv" video platform. The company equips amateur football clubs with special video technology which enables games to be transmitted live in a high quality and fully automatically using the new "sporttotal.tv" platform.

_wige MEDIA AG's service portfolio also comprises the technical equipping of racing circuits and sports facilities, as well as the production and/or marketing of sports events such as the ADAC Zurich 24-Hour Race at the Nürburgring. In addition, _wige MEDIA AG also produces content for prestigious companies such Porsche, Audi, Mercedes/AMG, Red Bull, VW and Deutsche Post AG. More information: www.wige.de

Company contact: _wige MEDIA AG Am Coloneum 2 50829 Cologne, Germanywww.wige.de Tel.: +49 (0)221_7 88 77_ 0 Fax: +49 (0)221_7 88 77_ 199info@wige.de

Investor Relations BSK Becker+Schreiner Kommunikation GmbH Tobias M. Weitzel Tel.: +49 (0)177_7 21 57 60weitzel@kommunikation-bsk.de

 

18.07.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

Language: English

Company: _wige MEDIA AG Am Coloneum 2 50829 Köln

Germany Phone: +49 (0)221 7 88 77 0 Fax: +49 (0)221 7 88 77 199 E-mail: info@wige.de Internet: www.wige.de ISIN: DE000A1EMG56 WKN: A1EMG5 Listed: Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Stuttgart, Tradegate Exchange   End of News DGAP News Service

593719  18.07.2017 

@ dgap.de

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