RTL boosts revenue, profit in Q1
Leading Euro b'caster numbers bode well for ad recoveryCOLOGNE, Germany – Leading European broadcaster RTL Group boosted revenue and operating profits in the first quarter, posting numbers that bode well for a broad recovery on European ad markets.
RTL posted a 10% jump in quarterly revenues, to €1.3 billion ($1.7 billion) and more than doubled its operating (EBITDA) profit for the period to €197 million ($251 million).
RTL said recovery was strongest in Germany, France and the U.K. and forecast an overall boost for the full-year compared with crisis-hit 2009.
Quarterly results at ProSiebenSat.1 were also music to the market's ears. The pan-European broadcast group increased revenue by 5% to €658 million ($838 million) and saw a 32% jump in EBITDA to €119 million ($152 million).
But neither media giant was willing to say the slump is over. European television has had two strong quarters but worries remain. The looming threat of an economic meltdown in Greece, combined with fears of a knock-on effect in indebted Portugal and Spain are keeping broadcasters and analysts cautious.