—- Media company Constantin Medien, which operates German sports broadcaster Sport1, the Sport1 Media sports marketing company and the Team Marketing agency, has hailed figures for its 2015 financial year that significantly exceeded the original targets.

Group sales reached €481.6m ($530.7m) after figures of €487.8m in 2014 – landing in the upper range of the target of €450m to €490m. Except for the film division, all segments increased sales against the previous year. Profit from operations (EBIT) substantially increased by €18.9m to €40.3m, versus the 2014 mark of €21.4m.

For the sports division, which includes Sport1, sales rose by 6.3 per cent to €157.6m. Segment earnings jumped from €3.7m to €13.4m, due to lower production and license costs. Constantin said the expansion of partnerships with existing advertising clients and the acquisition of new advertising customers led to an increase in advertising revenues from marketing in the areas of free-to-air television, online and mobile.

Constantin noted that the Sports and Event Marketing division continued to stay on a high earnings level in the reporting year. Segment sales grew by 18 per cent to €48.5m and segment earnings increased by 4.3 per cent to €17m.

Constantin stressed that it was of “key importance” that the existing co-operation of more than 20 years between Team Marketing and European football’s governing body Uefa was extended.

In March 2015, Team Marketing reached a long-term agreement with Uefa under which it will continue as the exclusive agent for the global marketing of commercial rights relating to the Champions League, Europa League and Super Cup club competitions.

The term of the new agency agreement covers Uefa club competitions from the 2015-16 season to the end of the 2020-21 campaign and, subject to Team’s ongoing performance, will also include seasons 2021-22 to 2023-24. Team is responsible for the world-wide marketing of media, sponsorship and licensing rights to the three competitions.

Fred Kogel, Constantin Medien chief executive, said: “2015 was one of the most successful financial years in a long time for Constantin Medien. Sport1, which we have built with great commitment and creativity into Germany’s leading multimedia sports platform, continues to be on the rise in terms of market share, coverage and with regard to attractiveness for advertisers.”

For the current 2016 financial year, Constantin is anticipating group sales ranging between €550m and €590m.