RTL exceeds latest forecasts thanks to recovery in final quarter
The European television group RTL has benefited from the recovery in the advertising markets and performed better in 2020 than previously expected. According to preliminary calculations, operating profit (adjusted EBITA) was around 850 million euros and revenue was approximately 6.0 billion euros, as RTL Group announced on Wednesday.
In the previous year, operating profit had been 1.16 billion euros and sales 6.65 billion euros. However, the fourth quarter had been unexpectedly good thanks to the recovery of the TV advertising markets. The Bertelsmann subsidiary had originally announced revenue growth of two to three percent for this year and, despite investments in the streaming business, had only targeted a slight decline in profits of seven percent.
But RTL withdrew this forecast shortly after the start of the Corona crisis. It wasn't until November that the Group ventured a new outlook, holding out the prospect of around EUR 720 million in profits and about EUR 5.8 billion in revenues. German rival and station chain ProSiebenSat.1 also recently presented preliminary figures and also managed a positive year-end spurt thanks to the recovery of the advertising markets. (SDA)
