15 million euros loss in the first quarter – after a million profit in the previous year: ProSiebenSat.1 slips into the red. For the year as a whole, however, the top management is confident.
The television group ProSiebenSat.1 slipped into the red at the beginning of the year due to the persistently weak TV advertising business.
Adjusted for special effects, depreciation and impairments, the shareholders in the first quarter accounted for a loss of 15 million euros after a profit of 38 million euros in the same period last year, as the MDax-listed company in Unterföhring near Munich announced. Sales fell by 13.3 percent to 816 million euros in the same period.
CEO Habets is hoping for more advertising bookings in June
Customers continue to find it difficult to advertise their products as a result of the slump in consumption. For the further course of the year, however, the mood should brighten up, said CEO Bert Habets confidently: “In June we are already seeing significant improvements in advertising bookings compared to the previous months.”
Accordingly, the adjusted operating profit (Ebitda) for the second quarter should be in the mid to high double-digit million euro range.
For the year as a whole, the manager continues to expect sales of 3.95 billion to 4.25 billion euros and adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) of 550 million to 650 million euros. Compared to the newly adjusted prior-year figures, the results could be either better or worse.
Source: Stern
