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ProSiebenSat.1 Posts Adj. Loss In Q2 - Quick Facts

ProSiebenSat.1 Group (PBSFF.PK) reported a second quarter net loss to shareholders of
ProSiebenSat.1 Media SE of 54 million euros compared to profit of 93 million euros, previous year. Adjusted net loss was 52 million euros compared to net income of 85 million euros, prior year. Adjusted loss per share was 0.23 euros compared to profit of 0.37 euros. Adjusted EBITDA decreased by 89% to 23 million euros due to the decline in the high-margin advertising business.

Second quarter revenue declined 25% to 709 million euros. Organically, revenues decreased by 26%.

Rainer Beaujean, CFO of ProSiebenSat.1 Media SE, said: "In our core markets of Germany, Austria and Switzerland, the economic environment is beginning to brighten, so we are seeing the first upward trend also in the advertising market as of July. We expect a decline of slightly less than 20% in July advertising revenues compared to the previous year and thus a clearly lower decline than in the past quarter. There are also signs of a further improvement in August with a minus of around 10% currently."

For the first six months of 2020, revenues were 1.63 billion euros, down 12% year-on-year.

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