RTL Group FY Profit Down - Quick Facts

Media company RTL Group (AUO.F) reported that its profit attributable to shareholders for fiscal year 2020 declined 34.8% to 492 million euros or 3.20 euros per share from 754 million euros or 4.91 euros per share in the previous year, mainly due to the decrease in Adjusted EBITA. This was partly compensated by lower income tax expense and capital gains.

Adjusted EBITA was 853 million euros down 26.2% from 1.16 billion euros in the previous year.

Annual group revenue decreased 9.5 percent to 6.02 billion euros from last year's 6.65 billion euros, mainly due to declining TV advertising markets across Europe in the second-quarter of 2020 and lower content production revenue as a result of the Covid-19 outbreak. Group revenue was down 6.8 per cent organically.

The company's board has proposed a dividend of 3.00 euros per share for 2020 of which 2.50 euros represents ordinary dividend while the remaining 0.50 euros relates to the distribution of cash capital gains.

Looking ahead for 2021, the company expects its revenue to increase to about 6.2 billion euros. It includes organic growth of 8 percent and the effects of the deconsolidation of BroadbandTV.

RTL Group expects its Adjusted EBITA for 2021 to grow to about 975 million euros. It includes streaming start-up losses of about 150 million euros.

The company said its dividend policy remains unchanged. It plans to pay out at least 80 percent of the adjusted full-year net result.

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