ProSiebenSat.1 increases profit in the second quarter
The ProSiebenSat.1 TV group increased its profit in the second quarter of 2007. The company’s net profit was 87.2 million euros, representing a 4.6 percent increase over the previous year. Revenue, however, remained roughly at the previous year’s level.
The ProSiebenSat.1 TV Group increased its profits in the second quarter of 2007. On balance, the company earned 87.2 million euros. This represents an increase of 4.6 percent over the same period last year. However, revenues stagnated at around the previous year's level of EUR 551.6 million. According to the Group, this is due to special effects last year. At that time, many companies brought forward their advertising bookings to the months of April and May in order to avoid the World Cup. Earnings before interest, taxes, depreciation and amortization (EBITDA) rose by 2.6 percent to EUR 158.8 million, as ProSiebenSat.1 announced on Wednesday. ProSiebenSat.1 continues to expect the German TV advertising market to grow by two to three percent.
Following the takeover of the SBS Broadcasting Group, ProSiebenSat.1 made a number of organizational changes. As one of the most important changes, the company has created the Group Content division, the press release continues. To expand its online activities, ProSiebenSat.1 acquired a majority stake in the advice portal Wer-weiss-was.de. The changes are accompanied by various new appointments. Michael Krautwald will take over as Chairman of the Management Board of SevenOne Media.
Following the takeover of the SBS Broadcasting Group, ProSiebenSat.1 made a number of organizational changes. As one of the most important changes, the company has created the Group Content division, the press release continues. To expand its online activities, ProSiebenSat.1 acquired a majority stake in the advice portal Wer-weiss-was.de. The changes are accompanied by various new appointments. Michael Krautwald will take over as Chairman of the Management Board of SevenOne Media.
