By Mauro Orru
RTL Group SA said Friday that its net profit and revenue increased in 2019.
The Luxembourg-based media company reported net profit of 754 million euros ($846.6 million) in 2019, up from EUR668 million in 2018.
Earnings before interest and taxes for the year rose to EUR1.16 billion from EUR1.08 billion.
Revenue climbed to EUR6.66 billion from EUR6.51 billion the previous year.
RTL Group said it had already seen cancellations for advertising bookings and an impact on production from the coronavirus pandemic.
However, the company said it expects organic revenue growth of between 2% and 3% in 2020, excluding foreign exchange rates and the potential impact of the coronavirus, which is too early to quantify.
"Over the next five years, we aim to grow the number of paying subscribers for our streaming services TV Now in Germany and Videoland in the Netherlands to between 5 million and 7 million, to grow our streaming revenue to at least EUR500 million and to break even by 2025," said Chief Executive Thomas Rabe.
RTL Group said its board of directors proposed an unchanged dividend of EUR4 per share.
Write to Mauro Orru at email@example.com; @MauroOrru94