logo
Plus   Neg
Share
Email

PROSIEBENSAT.1 Q1 Group Profit Falls, Revenue Up 1%

Following the withdrawal of its financial outlook for 2020 on April 22, the German media company ProSiebenSat.1 Media AG (PBSFF.PK) Thursday reported significantly lower net profit for the first quarter, while sales edged up 1 percent over last year.

The group's net income fell by 75 percent to 31 million euros, and adjusted net income slid by 38 percent to 58 million euros.

Adjusted EBITDA declined by 17 percent to 157 million euros, mainly due to the lower revenues in the TV advertising business and the segments' different earnings structures.

For the first quarter, Group revenues grew slightly by 1 percent to 926 million euros, but declined by 1 percent on organic basis.

Looking ahead, the Group said reliable outlook for the second quarter and the full year is currently not possible, due to the significant impact of Covid-19 on the business across all segments.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
NASA's Osiris-Rex robotic spacecraft briefly touched down on near-Earth asteroid Bennu's surface on Tuesday to collect rock and dust samples that will be brought back to Earth in 2023. Bennu is currently more than 200 million miles, or 321 million kilometres, from Earth. Osiris-Rex launched from Cape Canaveral Air Force Station in Florida in September 2016. Amazon said Wednesday that free one-hour grocery pickup is now available to prime members at all U.S. Whole Foods Market locations. Previously, the prime members could pick up Whole Foods orders only at select stores. J.C. Penney said it is near to exiting Chapter 11 ahead of the busy December 2020 holiday season. The beleaguered retailer filed a draft asset purchase agreement towards finalization of the acquisition by Brookfield Asset Management, Inc. and Simon Property Group, Inc. They are expected to buy substantially all of J.C. Penney's retail and operating assets in a combination of cash and debt.
RELATED NEWS
Follow RTT