BERLIN (dpa-AFX) - ProSiebenSat.1 Group (PBSFF.PK), a German mass media & digital company, on Thursday reported that its adjusted net earnings for the second quarter fell by over 94 percent to 4 million euros from 64 million euros.
Adjusted EBITDA for the quarter declined by 49 percent to 79 million euros from 155 million euros.
For the second quarter, Group revenues slid by 17 percent to 868 million euros from last years' 1.04 billion euros, amidst continuing challenging macroeconomic environment in the German-speaking region-Germany, Austria, Switzerland.
While the TV advertising business continued to be affected by ongoing consumer restraint in the second quarter, consolidation effects also had a negative impact on the Group's revenue performance.
In addition, based on certain assumptions, the Group said it is confirming its forecast for the financial year 2023. It continues to expect full-year Group revenues of about 4.10 billion euros, with a variance of plus/minus EUR 150 million, and adjusted EBITDA of around 600 million euros, with a variance of plus/minus EUR 50 million.
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