Pro Sieben Sat.1 with 144.5 million euros profit
Pro Sieben Sat.1 returned to profitability in 2009 thanks to improved performance in the fourth quarter and a strict cost-cutting program.
The bottom line profit amounted to 144.5 million euros, the TV company announced in Munich on Wednesday. The result was therefore better than analysts had expected. In 2008, the company had suffered a loss of around 129 million euros due to write-downs on its competitor SBS, which was acquired in 2007.
Last year, turnover fell by almost ten percent to 2.76 billion euros. In the fourth quarter, however, the company was able to increase its revenue slightly, thus halting the recent negative trend. Following the surprising announcement of the key figures, the share price increased. Debt fell by 112 million to 3.3 billion euros at the end of the year.
Last year, turnover fell by almost ten percent to 2.76 billion euros. In the fourth quarter, however, the company was able to increase its revenue slightly, thus halting the recent negative trend. Following the surprising announcement of the key figures, the share price increased. Debt fell by 112 million to 3.3 billion euros at the end of the year.
