BERLIN (dpa-AFX) - ProSiebenSat.1 Media AG (PBSFF.PK), a German mass media and digital company, Thursday reported revenue of 2.656 billion euros for the first nine months of 2024, 3 percent higher than 2.571 billion euros in the comparable period last year.
Adjusted EBITDA, or adjusted earnings before interest, taxes, depreciation, and amortization increased 10 percent to 267 million euros from 243 million euros a year ago.
Adjusted net income for the period was 63 million euros, up from 12 million euros in the previous year.
For the full year, the company continues to expect revenue to be 3.95 billion euros plus/minus 150 million euros. This compares with 3.85 billion reported in 2023.
However, ProSiebenSat.1 currently sees adjusted EBITDA for the year to be below the target of $575 million euros due to decline in revenues in the TV advertising business in the third quarter as well as in the fourth quarter to date. Previous outlook was for 575 million euros plus/minus 50 million euros. In 2023, adjusted EBITDA was 578 million euros.
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