RTL Group (RGLXY), a media conglomerate, reported Thursday that its fiscal 2023 profit attributable to shareholders fell 30.6 percent to 467 million euros from last year's 673 million euros.
Earnings per share dropped to 3.02 euros from 4.35 euros a year earlier.
Attributable profit from continuing operations declined 36 percent to 352 million euros or 2.27 euros per share from 549 million euros or 3.55 euros per share a year ago.
Adjusted EBITA declined 15.2 percent from last year to 782 million euros, and adjusted EBITA margin fell to 12.5 percent from 14 percent last year.
Group revenue was down 5.4 percent to 6.23 billion euros from prior year's 6.59 billion euros, due to lower TV advertising revenue and lower Fremantle revenue. Group revenue was down 4.1 percent organically.
Further, RTL Group's Board of Directors will propose a dividend of 2.75 euros per share for 2023 at its Annual General Meeting on April 24. The payment date is April 29.
Looking ahead for fiscal 2024, RTL Group expects revenue to increase to around 6.6 billion euros, based on higher revenue from RTL Deutschland and Fremantle.
Adjusted EBITA is projected to be around 750 million euros, with a variance of plus/minus 50 million euros.
In Germany, RTL Group shares were trading at 30.86 euros, down 7.38 percent.
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