By Mauro Orru

RTL Group SA said Friday that net profit and revenue for 2020 fell amid the coronavirus pandemic, although TV advertising revenue grew in the second half, particularly in the fourth quarter.

The Luxembourg-based media company said net profit for the year slipped to 492 million euros ($589.6 million) from EUR754 million.

Revenue fell to EUR6.02 billion from EUR6.65 billion, while adjusted earnings before interest, taxes and amortization decreased to EUR853 million from EUR1.16 billion, pretty much in line with preliminary figures released in January.

However, RTL Group confirmed TV advertising revenue rose 0.8% year-on-year in the second half and 2.8% in the fourth quarter.

The company expects revenue and adjusted Ebita to grow this year, assuming the economic recovery continues, particularly in the second quarter.

RTL Group is guiding for 2021 revenue of about EUR6.2 billion and adjusted Ebita of approximately EUR975 million.

The company is proposing a dividend of EUR3 a share, with EUR2.50 as an ordinary dividend and EUR0.50 as distribution of cash capital gains.

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

(END) Dow Jones Newswires

03-12-21 0219ET