BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - ProSiebenSat.1 (PBSFF.PK) said it recorded a dynamic recovery in its portfolio in the second quarter, confirming the figures published in advance on July 19, 2021. The Group generated record revenues, the highest figure ever achieved by ProSiebenSat.1 in a second quarter, primarily driven by the very strong growth in the advertising business. The company also saw positive developments in its Dating and Commerce & Ventures business in the second quarter.
Based on the strong performance in the second quarter, ProSiebenSat.1 Group has decided, as communicated on July 19, 2021, to further increase its target ranges for revenues and adjusted EBITDA in full-year 2021 compared to the outlook published on May 12, 2021.
Second-quarter net profit to shareholders was 123 million euros compared to a loss of 54 million euros, last year. Adjusted EBITDA increased more than sevenfold to 166 million euros. Adjusted earnings per share was 0.28 euros compared to a loss of 0.23 euros.
Second-quarter revenues increased 48% to 1.05 billion euros from 709 million million euros, last year. Significant growth in advertising revenues was main driver for the extremely strong recovery compared to the pandemic-impacted previous year's quarter.
For 2021, the Group now expects - without further portfolio changes - revenues of 4.40 billion euros as the lower end and revenues of 4.50 billion euros as the upper end of the target range. In 2021, Group revenue growth would thus be in a range between 9% and 11% compared to the previous year, revised from prior guidance of 5% to 10%.
For 2021, ProSiebenSat.1 now anticipates a Group adjusted EBITDA - without further portfolio changes - of around 820 million euros with a variance of plus/minus 20 million euros.
Copyright RTT News/dpa-AFX