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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.

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