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RTL Group Raises FY21 View As H1 Results Climb; Stock Up

Shares of RTL Group (AUO.F) were gaining around 4 percent in the morning trading in Germany after the media company raised its fiscal 2021 forecast after reporting strong first half results.

For the first half, Group profit attributable to shareholders was 863 million euros, up from 94 million euros a year ago.

Adjusted EBITA was up 87.2 percent from last year to 483 million euros. Adjusted EBITA margin grew 6.3 percentage points to 16.0 percent.

Group revenue for the first half grew 13.7 percent to 3.01 billion euros from prior year's 2.65 billion euros.

In the second quarter, Group revenue went up 35.8 percent to 1.61 billion euros, with 65 percent rise in TV advertising revenue.

Further, the company raised fiscal 2021 outlook, and now expects adjusted EBITA of around 1.05 billion euros, compared to previous guidance of 975 million euros, and adjusted EBITA before streaming start-up losses' of around 1.20 billion euros, compared to previous guidance of 1.13 billion euros.

Group revenue is now expected to be around 6.5 billion euros, up from previous guidance of 6.2 billion euros.

Thes outlook assumes that the economic recovery from Covid 19 will continue in 2021, as vaccination programmes progress and no new lockdown measures are put in place.

The company also said its dividend policy remains unchanged. RTL Group plans to pay out at least 80 percent of the adjusted full-year net result, including cash capital gains.

In Germany, RTL Group shares were trading at 48.90 euros, up 3.73 percent.

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