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RTL Group raises guidance as German, French TV ops shine
November 9, 2017 / 7:01 AM / a month ago

RTL Group raises guidance as German, French TV ops shine

FRANKFURT, Nov 9 (Reuters) - European broadcaster RTL Group posted forecast-beating quarterly profits and raised its outlook on Thursday as its German and French operations shone, contrasting with struggling rival ProSiebenSat 1 Media SE .

Luxembourg-based RTL said it now expected earnings before interest, tax, depreciation and amortisation (EBITDA) to grow by between 1 and 2.5 percent this year, up from earlier guidance that they would be stable.

The company, controlled by Bertelsmann, confirmed its forecast for revenues to grow by 2.5 to 5 percent.

“Our families of channels in Germany and France continued to outperform their respective TV advertising market significantly,” Co-CEOs Guillaume de Posch and Bert Habets said in a statement.

EBITDA rose by 17.4 percent in the third quarter to 263 million euros ($305 million), above market expectations, while revenues added 1.5 percent.

ProSiebenSat.1, in the latest of a series of downgrades, cut its outlook for revenues and profits for the year on Wednesday and abandoned a forecast for TV advertising revenues in its home market in the fourth quarter. ($1 = 0.8618 euros) (Reporting by Douglas Busvine; Editing by Maria Sheahan)

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