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TV advertising slump pushes ProSiebenSat.1 into the red

2023-05-26T07:00:27.105Z

Highlights: The ProSiebenSat.1 television group slipped into the red at the start of the year due to the persistently weak TV advertising business. For the year as a whole, however, the Group's top management is confident. CEO Bert Habets was confident: "Already in June we see significant improvements in advertising bookings compared to the previous months" For the full year, the manager continues to expect sales of 3.95 billion to 4.25 billion euros and adjusted earnings before interest, taxes, depreciation and amortization of 550 million to 650 million euros.



High prices, low appetite to buy, few line items - ProSiebenSat.1 is also feeling the effects of inflation. © Matthias Balk/dpa

Loss of EUR 15 million in the first quarter - after a profit of millions in the previous year: ProSiebenSat.1 slips into the red. For the year as a whole, however, the Group's top management is confident.

Unterföhring - The ProSiebenSat.1 television group slipped into the red at the start of the year due to the persistently weak TV advertising business.

Adjusted for special effects, depreciation and amortization, shareholders incurred a loss of 15 million euros in the first quarter after a profit of 38 million euros in the same period of the previous year, as the MDax-listed company in Unterföhring near Munich announced. In the same period, sales fell by 13.3 percent to 816 million euros.

CEO Habets hopes for more line items in June

Customers are still finding it difficult to advertise their products as a result of the slump in consumption. For the rest of the year, however, the mood is likely to brighten, CEO Bert Habets was confident: "Already in June we see significant improvements in advertising bookings compared to the previous months."

Accordingly, adjusted operating profit (Ebitda) for the second quarter is likely to be in the mid to high double-digit million euro range.

For the full year, the manager continues to expect sales of 3.95 billion to 4.25 billion euros and adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) of 550 million to 650 million euros. Compared to the new adjusted prior-year figures, the results could be both better and worse. Dpa

Source: merkur

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