Pro Sieben Sat.1 on record course
Following a strong third quarter, the Pro Sieben Sat.1 media group remains on track to set new records. Thanks in part to another increase in advertising revenue in its core markets of Germany, Austria, and Switzerland, the TV group increased its revenue by just under 9 percent to 594.5 million euros between July and September.
However, Pro Sieben Sat.1 earned slightly less money on the bottom line. This was also due to the costs of reorganizing the financing structure, as the company announced in Munich on Thursday. The contributions from the businesses sold in the Netherlands and Belgium in the summer have already been deducted from all figures.
The net result fell from 19.7 million euros a year ago to 11.4 million euros. In contrast, the operating profit EBIT grew from 96.6 million to 101 million euros. The basis for the positive business development was the strong positioning in the core business of television, said Group CEO Thomas Ebeling according to the press release.
The Sat1, Pro Sieben and Kabel broadcasting group aims to generate additional revenues of EUR 750 million by 2015 without acquisitions, also with businesses outside the TV advertising market such as content production, online offerings or pay-TV. Ebeling confirmed his positive outlook for this year. The Group CEO recently also held out the prospect of growth for 2012, even if the year is unlikely to be a "boom year". (SDA)
