RTL Group (RGLXY), a media conglomerate, reported Friday sharply lower profit in its first half, hurt by weak revenues. On a continuing operations basis, the company recorded a loss, compared to prior year's profit.
Looking ahead, for fiscal 2025, RTL Group continues to expect adjusted EBITA to increase to around 780 million euros, mainly due to lower streaming start-up losses.
Revenue for 2025 would increase to around 6.45 billion euros, mainly due to significantly higher streaming revenue and portfolio effects.
RTL Group's TV advertising revenue is expected to grow by 2 to 3 percent in the second half.
In the first half, net profit attributable to shareholders plunged to 31 million euros from last year's 132 million euros. Earnings per share fell to 0.20 euro from 0.85 euro a year ago.
On a continuing operations basis, the company recorded a loss of 22 million euros or 0.14 euro per share, compared to prior year's profit of 69 million euros or 0.45 euro per share.
Adjusted EBITA fell 7 percent to 160 million euros from 172 million euros a year ago, broadly in line with expectations, due to cost containment.
Adjusted EBITDA was 273 million euros, down 5.5 percent from prior year's 289 million euros. Adjusted EBITDA margin declined to 9.8 percent from 10.1 percent a year earlier.
Revenue was 2.78 billion euros, 3.2 percent lower than last year's 2.87 billion euros.
In the second quarter, Group revenue was 1.49 billion euros, lower than prior year's 1.55 billion euros.
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