March 13, 2020 / 7:12 AM / a month ago

RTL says coronavirus already hitting ad bookings, productions

BERLIN, March 13 (Reuters) - European broadcaster RTL Group said it was seeing the first cancellations of advertising bookings and an impact on productions from coronavirus, and forecast a decline in profits this year as it invests in its streaming business.

RTL, controlled by German publisher Bertelsmann BTGGg.F>, predicted a decline of 7% in core earnings before interest and amortization (EBITA), after turning in a solid set of 2019 results and proposing a dividend of 4 euros ($4.48) per share.

The outlook did not reflect the coronavirus epidemic as it is too early to quantify its impact on the RTL Group’s results, the company said in a statement. ($1 = 0.8925 euros) (Reporting by Douglas Busvine; editing by Thomas Seythal)

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