BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - ProSiebenSat.1 (PBSFF.PK) said it closed the first quarter of 2022 in line with its expectations. Adjusted net income increased by 14% year-on-year to 42 million euros. Adjusted EBITDA decreased by 14% to 123 million euros mainly due to the planned bringing-forward of programming expenses in the Entertainment segment. Adjusted earnings per share was 0.19?euros compared to 0.16 euros. Looking forward, the Group confirmed its full-year outlook.
Financial result for the first quarter was a loss of 18 million euros compared to a loss of 7 million euros, previous year.
First quarter revenues rose by 2% year-on-year to 954 million euros. The company said this development was driven by the significant growth in advertising revenues. Organically, revenues rose by 3%.
Ralf Peter Gierig, Group CFO, said: 'Our focus on profitability and effective cash flow management is again paying off this quarter. We have again reduced our net financial debt as well as lowered our leverage ratio.'
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