August 2, 2018 / 6:04 AM / 4 months ago

ProSieben stands by 2018 outlook after weaker Q2

FRANKFURT, Aug 2 (Reuters) - German broadcaster ProSiebenSat.1 Media on Thursday posted a decline in second-quarter revenues and profits that was in line with expectations, but confirmed its full-year outlook as it looks to a stronger second half.

The Munich-based broadcaster said the seasonal weakness was expected, but added that its TV audience share had held up even as major sporting events like the soccer World Cup aired on Germany’s public channels.

Chief Financial Officer Jan Kemper described the market environment as demanding, but said: “Due to the seasonality of our business models, we now anticipate the second half of the year to be stronger, as has been the case in previous years.”

Second-quarter revenues fell by 5 percent to 912 million euros ($1.06 billion), exactly in line with the average view in a Reuters poll of eight analysts.

Adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) was down by 4 percent and adjusted net income fell 6 percent - both just ahead of consensus. ($1 = 0.8586 euros) (Reporting by Douglas Busvine Editing by Maria Sheahan)

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