DHX posts year-end revenues of US$335 million

The Peanuts brand and digital kids network WildBrain drove revenue increases for the company in a preliminary look at its Q4 and year-end financials.
September 13, 2018

DHX Media’s year-end revenue hit US$335 million for fiscal 2018, up significantly from US$229 million last year, thanks to its acquisition of the Peanuts and Strawberry Shortcake brands and the growth of digital kids network WildBrain.

According to preliminary fiscal results reported by the Halifax-based company today, DHX revenue for Q4 was US$76 million, up from US$67 million in the same quarter last year. Annual adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) also rose to between US$74.5 million and US$76 million for fiscal 2018, up from US$67 million in 2017. Meanwhile, adjusted EBITDA for Q4 fell to between US$11.9 million and US13 million, down from US$18 million a year ago.

Still in the midst of a strategic review that has already seen a shakeup of its executive team and the sale of a share of its Peanuts brand, DHX advised that final financial results for Q4 and year-end 2018 will be reported on September 25, along with an update on its strategic review process.

While the Peanuts brand (which DHX initially acquired in May 2017) was the primary driver for DHX’s top-line growth, excluding acquisitions,  the company said that its revenue for fiscal 2018 was down approximately 3% over the prior year. And adjusted EBITDA growth stemming from its Peanuts acquisition was partially offset by declines in proprietary production, distribution (excluding WildBrain) and its consumer products business.

In addition, DHX said the partial sale of the Peanuts brand to Sony Music Entertainment Japan has helped reduce its debt load significantly. Proceeds of the transaction, totaling US$161.3 million, have been used to repay a portion of what it owes.

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