Revenue at ProSiebenSat.1  hits  $2.79 billion in Q3

Admin I Friday, November 15, 2024

 

BERLIN – German mass media firm and broadcaster ProSiebenSat.1 on Thursday reported revenue of €2.656 billion ($2.79 billion) for the first nine months of 2024.

The figure represented a 3% rise compared to the €2.571 billion earned in the same period last year.

Adjusted EBITDA, or adjusted earnings before interest, taxes, depreciation, and amortization, increased 10% to €267 million from €243 million a year ago. Adjusted net income for the period was €63 million, up from €12 million in the previous year.

For the full year, the company continues to expect revenue to be €3.95 billion plus/minus €150 million. 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 due to a decline in revenues in the TV advertising business in the third quarter as well as in the fourth quarter to date.

The previous outlook was for €575 million plus/minus €50 million. In 2023, adjusted EBITDA was €578 million.