Pro Sieben Sat1: Profit doubled
Last year, Pro Sieben Sat1 benefited from the recovery of the advertising markets and more than doubled its profits.
Thanks to booming advertising revenues and good Christmas business, the German TV group earned 312.7 million euros on the bottom line. Turnover grew by 8.7 percent to around 3 billion euros, as the company announced on Thursday according to SDA. The broadcasting group (Sat1, Kabel1) also sees itself strengthened by its strict cost-cutting measures and the restructuring of recent years.
The success is not only due to the economic tailwind, but also to the efficiency of the processes and the right strategic decisions, Pro Sieben Sat1 CEO Thomas Ebeling is quoted as saying in the press release. In view of the good economic situation, the manager expects further growth in revenues and earnings in 2011. However, following the sale of the news channel N24 and the move to Munich, the restructuring of the still highly indebted Group could continue.
Strategic opportunities in parts of Europe are being examined
Pro Sieben Sat1 is examining the strategic possibilities for its business in the Netherlands, Belgium and Northern Europe. There has been speculation for some time about a possible sale of the stations there. From today's perspective, a decision is expected in the second quarter.
