ProSiebenSat.1 Media Posts Adj. Loss In Q1, Adj. EBITDA Down; Backs FY23 Forecast

ProSiebenSat.1 Media SE (PBSFF.PK) reported Friday that its first-quarter adjusted loss was 15 million euros, compared to previous year's profit of 38 million euros.

Adjusted EBITDA decreased to 53 million euros from prior year's 112 million euros.

Group revenues were down 13% to 816 million euros from 941 million euros last year, still impacted by the challenging macroeconomic environment.

Looking ahead, the company said it currently expects adjusted EBITDA in the second quarter to be in the mid to high double-digit million EUR range.

Bert Habets, Group CEO of ProSiebenSat.1 Media SE, said, "As expected, the macroeconomic environment continued to directly impact our advertising business in the first quarter of 2023. This is expected to continue in the second quarter, although somewhat less pronounced. We are already seeing significant improvements in advertising bookings in June compared to the previous months."

For fiscal 2023, ProSiebenSat.1 continues to expect slight organic revenue growth to around 4.10 billion euros with a variance of plus/minus 150 million euros, and adjusted EBITDA of around 600 million euros with a variance of plus/minus 50 million euros.

Last year, Group revenues were 4.02 billion euros, and adjusted EBITDA was 623 million euros.

The company further expects a significant recovery of very profitable advertising business in the second half of the year, in parallel with the forecast economic upturn.

For comments and feedback contact: editorial@rttnews.com

Business News

Follow RTT