LUXEMBOURG (dpa-AFX) - RTL Group has to set itself smaller targets due to the lack of recovery in the advertising markets at the beginning of the second half of the year. Although September was strong, the MDax-listed television group announced in Luxembourg on Wednesday. "Looking ahead to the fourth quarter, however, the European advertising markets are proving weaker than expected, so that we have had to adjust our outlook despite countermeasures," said Group CEO Thomas Rabe.
RTL is therefore now only expecting revenues of 6.9 billion euros, after the revenue target had already been reduced to 7.0 billion euros in the summer. Last year, the RTL Group had still achieved sales of a good 7.2 billion euros. Adjusted for special effects, earnings before interest, taxes, depreciation and amortization (EBITA) for 2023 are expected to fall to 900 million euros after 1.08 billion euros in the previous year - here, too, the Group management had already revised the forecast.
In the third quarter, Group turnover fell by around a tenth to just under 1.6 billion euros. Industry experts had hoped for significantly more. The content production business (Fremantle) in particular suffered as a result of subdued demand and compared to a strong prior-year figure. Advertising revenues were also down and a turnaround is not in sight: due to the continued weakness of the TV advertising markets, particularly in Germany, the TV advertising business is likely to be down on the previous year in the second half of the year./ngu/stk