Despite a 2020 blighted by Covid-19, German broadcasting giant ProSiebenSat.1 Group posted revenues of €4.04 billion ($4.91 billion) and adjusted earnings of €700 million ($850.9 million) for the full year, according to preliminary, unaudited figures.
In the third quarter of 2020, the group had targeted revenues of approximately €3.85 billion ($4.52 billion) for the full year, with an Ebitda of €650 million ($763 million), which they have exceeded.
The preliminary results attribute the relative spurt in business to the group’s slow but steady growth in its advertising business. The company had previously forecast a decrease in advertising revenues.
Net financial debt at the end of 2020 decreased to €1.97 billion ($2.39 billion) due to good cash flow.
In the third quarter of 2020, the group had targeted revenues of approximately €3.85 billion ($4.52 billion) for the full year, with an Ebitda of €650 million ($763 million), which they have exceeded.
The preliminary results attribute the relative spurt in business to the group’s slow but steady growth in its advertising business. The company had previously forecast a decrease in advertising revenues.
Net financial debt at the end of 2020 decreased to €1.97 billion ($2.39 billion) due to good cash flow.
- 1/22/2021
- by Naman Ramachandran
- Variety - TV News
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