FRANKFURT (dpa-AFX) - RTL Group's surprisingly low profit target for this year caused the share price to plummet on Thursday to its lowest level since September 2020. The TV and media group's shares fell by up to a good 8 percent to 30.60 euros at midday. Only the shares of chemicals group Lanxess came under greater pressure in the MDax mid-cap index.

The media company has targeted an adjusted operating result (Ebita) of EUR 750 million plus/minus EUR 50 million for 2024. According to analyst Lisa Young from Goldman Sachs, this compares to a consensus estimate of 841 million euros. Even in the best-case scenario, RTL would therefore fall short of market expectations.

"The outlook for the 2024 financial year is somewhat weak," said analyst Adam Berlin from UBS. Assuming an EBITA of 750 million euros, i.e. the midpoint of the forecast range, the corresponding consensus estimate is likely to fall by 6 percent.

RTL wants to grow again this year, which is encouraging for the time being, wrote analyst Silvia Cuneo from Deutsche Bank. However, profitability is likely to remain under pressure due to investments in the streaming business.

ProSiebenSat.1 shares also suffered somewhat from the gloomy sentiment on Thursday. Most recently, the shares of the competitor, which has since been relegated to the SDax, fell by 0.7 percent./bek/tih/stk