RTL Group HY Profit Drops; Updates FY Outlook

Media company RTL Group (AUO.F) reported that its profit attributable to shareholders for the first half of fiscal year 2022 dropped to 245 million euros or 1.58 euros per share from 863 million euros or 5.58 euros per share in the prior year. The prior year result was positively impacted by capital gains of 745 million euros from the sale of SpotX.

Group revenue for the period rose 8.7 percent to 3.28 billion euros from the prior year, reflecting strong performance of RTL Nederland, higher streaming revenue, scope effects at RTL Deutschland and Fremantle as well as positive foreign exchange rate effects.

Group revenue was stable organically compared to the first half of 2021, as organic revenue growth at RTL Nederland and Groupe M6 was offset by negative effects from the timing of production deliveries at Fremantle.

The company said it has decided to revise its outlook for the full year 2022 citing challenging macroeconomic environment and its impact on advertising markets in particular.

RTL Group now expects its adjusted EBITA to be between 1.05 billion euros and 1.15 billion euros including streaming start-up losses and 1.3 billion euros and 1.4 billion euros before streaming start-up losses. Previously, the company expected annual adjusted EBITA to be stable at approximately 1.15 billion euros, and adjusted EBITA before streaming start-up losses to increase to approximately 1.4 billion euros.

RTL Group now expects its annual revenue to increase to between 7.3 billion euros and 7.5 billion euros compared to the previous guidance of about 7.4 billion euros.

RTL Group plans to pay out at least 80 per cent of the adjusted full-year net result.

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