Regardless of a 2020 blighted by COVID-19, German broadcasting big ProSiebenSat.1 Group posted revenues of €4.04 billion ($4.91 billion) and adjusted earnings of €700 million ($850.9 million) for the total yr, in response to preliminary, unaudited figures.
Within the third quarter of 2020, the group had focused revenues of roughly €3.85 billion ($4.52 billion) for the total yr, with an EBITDA (Earnings Earlier than Curiosity, Taxes, Depreciation, and Amortization) of €650 million ($763 million), which they’ve exceeded.
The preliminary outcomes attribute the relative spurt in enterprise to the group’s sluggish however regular development in its promoting enterprise. The corporate had beforehand forecast a lower in promoting revenues.
Web monetary debt on the finish of 2020 decreased to €1.97 billion ($2.39 billion) as a result of good money move.
“We’re very glad with our improvement in the fourth quarter. We’re happy that we have been thus capable of deliver a conciliatory ending to 2020, which was a troublesome yr for everybody as a result of COVID-19. This exhibits that our program investments have paid off. In a aggressive atmosphere, we satisfied with extremely enticing leisure and infotainment codecs and thus additionally strengthened our place in the TV promoting market,” mentioned Rainer Beaujean, chairman of the chief board and CFO of ProSiebenSat.1 Media SE.
“Now, we’re totally specializing in 2021. As already introduced, we anticipate that the present lockdown measures in our core markets will have an effect on notably our promoting enterprise in the primary quarter in comparison with the earlier yr,” Beaujean added.
“Nonetheless, we anticipate a major enchancment in the leisure phase year-on-year particularly in the second quarter. As in 2020, as an early cycle firm we anticipate a speedy restoration as quickly because the restrictions are being eased or lifted. General, we’re targeted on persistently pursuing our technique in all segments and positioning ProSiebenSat.1 in an much more synergistic and cost-efficient manner.”
The group will publish closing 2020 figures in addition to the monetary projections for 2021 on March 4.