ProSiebenSat.1 cancels profit forecast
Due to the slump in the advertising market, the media group ProSiebenSat.1 no longer believes it can meet its profit target for this year. In September, the group was still projecting around 700 million euros, but it is no longer making any forecasts.
The media group ProSiebenSat.1 no longer believes in its profit target for this year due to the crisis in the advertising market. In the current market environment, the company does not dare to reaffirm its forecast for earnings before interest, taxes, depreciation and amortization (EBITDA), a ProSiebenSat.1 spokesperson said on Thursday, according to SDA. The Group had already lowered its EBITDA forecast to between EUR 670 and 700 million in September. Now this forecast no longer applies either.
The company performed as expected in the third quarter. Turnover fell from 668.4 to 646.5 million euros. The bottom line was a loss of 10.7 million euros after a loss of just under 78 million euros in the same period last year.
The company performed as expected in the third quarter. Turnover fell from 668.4 to 646.5 million euros. The bottom line was a loss of 10.7 million euros after a loss of just under 78 million euros in the same period last year.
