RTL Group FY12 Adj. EBITA Declines; Revenue Up 1.6% Organically

RTL Group (AUO.F) reported fiscal 2022 Group profit of 766 million euros compared to 1.45 billion euros, prior year. The Group noted that 2021 was positively impacted by capital gains of 717 million euros from the sale of SpotX. EPS was 4.35 euros compared to 8.41 euros.

Adjusted EBITA was down by 6.0 percent to 1.08 billion euros, due to RTL Deutschland, the scope exit of RTL Belgium, and Groupe M6. These effects were partly offset by record Adjusted EBITA contributions from RTL Nederland and Fremantle. The Adjusted EBITA margin decreased to 15.0 percent from 17.4 percent. The Group noted that its adjusted EBITA before streaming start-up losses was stable on prior year's record level.

Group revenue increased 8.8 percent to 7.22 billion euros, mainly due to strong growth of Fremantle, RTL Deutschland and RTL Nederland. Group revenue was up 1.6 percent organically compared to 2021, driven by Fremantle and RTL Nederland.

RTL Group expects 2023 revenue to increase to between 7.3 and 7.4 billion euros.
RTL Group expects adjusted EBITA for 2023 to be between 1.0 and 1.05 billion euros. The Group expects adjusted EBITA before streaming start-up losses to be between 1.2 and 1.25 billion euros. RTL Group's dividend policy remains unchanged.

RTL Group's Board has proposed a dividend of 4.00 euros per share for 2022, of which 3.50 euros represents an ordinary dividend, while the remaining 0.50 euros relates to the disposals of RTL Belgium and RTL Croatia.

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