Television company RTL Group SA (RTL.BT) said Thursday net
profit surged in the first half of the year, despite advertising
revenue declines in most core markets, boosted by the reversal of a
2012 impairment in Spain.
MAIN FACTS:
-Net profit in the first six months of the year was 418 million
euro ($557.6 million), up nearly 53% from the year-earlier period,
mainly reflecting higher operating profit and a reversal of a 2012
impairment, of EUR72 million, on RTL Group's shareholding in the
Spanish broadcasting company Atresmedia Corp. de Medios de
Comunicacion S.A. (A3M.MC).
-RTL Group revenue fell 1.3% during the period to EUR2.78
billion, after advertising revenue fell in core markets except for
Germany's net television advertising market, which was stable on
the year.
-Earnings before interest, tax and amortization were up 9.1% in
the first half, to EUR552 million.
-The company's executive board authorized an extraordinary
interim dividend of EUR2.50 per share.
-In April, majority shareholder Bertelsmann AG said it garnered
gross proceeds of EUR1.4 billion from the sale of a stake in
RTL.
-"This decision is a reflection of the Group's strong cash flows
and its target net debt to full-year EBITDA ratio of 0.5 to 1.0
times," the company said.
-Frankfurt Bureau, Dow Jones Newswires; 49-69-29725-500
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