May 17, 2018 / 6:05 AM / a year ago

RTL faces headwinds in Q1 but confirms guidance

FRANKFURT, May 17 (Reuters) - European broadcaster RTL Group said its core TV operations in Germany, France and the Netherlands grew in the first quarter despite headwinds from adverse exchange rate effects.

Core profits also shrank slightly as losses at French soccer club Girondins weighed, but RTL reaffirmed its full-year guidance for revenues to grow by between 2.5 and 5 percent and adjusted EBITDA to be broadly stable.

Revenues rose by 0.8 percent to 1.42 billion euros ($1.68 billion), just shy of the average in a Reuters poll of seven analysts of 1.44 billion euros. Underlying revenue, after adjusting for the strong euro, was up 2.6 percent.

RTL, controlled by German publishing group Bertelsmann , said earnings before interest, taxation, depreciation and amortization (EBITA) fell 1.9 percent to 259 million euros, below analyst expectations of 268 million.

Reported earnings per share fell more sharply, to 0.72 euros from 0.89 euros a year earlier, compared with consensus expectations for 0.91 euros. ($1 = 0.8460 euros) (Reporting by Douglas Busvine Editing by Maria Sheahan)

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