ProSiebenSat.1 back in the black
ProSiebenSat.1's business is performing better again thanks to a surge in advertising revenue. The TV group returned to profitability in the first quarter with a net profit of 21.2 million euros.
A year ago, there had still been a deficit of EUR 1.7 million. Revenues at the ProSieben, Sat.1, Kabel Eins and N24 stations rose seven percent to EUR 416.7 million. Group revenues increased by five percent to 658.4 million euros. Like industry leader RTL Group, the Group struggled last year with the biggest slump in TV advertising revenues in the history of commercial television. The broadcasting group countered this with tough savings and massive staff cuts.
