First quarter revenues at ProSiebenSat.1 Media dipped by 3 percent to 881 million euros ($1 billion), while adjusted EBITDA gained 7 percent to 200 million euros ($238 million).
Adjusted net profit, meanwhile, was up 6 percent to 93 million euros ($110 million). The company attributed the drop in revenues to “deconsolidations in the travel portfolio and adverse currency effects.”
Conrad Albert, the new CEO of the European media group, noted, “In the first three months of the year, mainly our entertainment business developed positively in the audience and TV advertising markets, as well as in the distribution business. We are continuing to focus on offering our viewers, users, and advertising clients an attractive entertainment package with a combination of U.S. and local content while interlinking this more and more closely on all of our platforms.”
In the entertainment segment, ad revenues remained stable, the company said, with entertainment revenues up 2 percent to 642 million euros ($760 million.) Revenues were down 17 percent in the content production and global sales division to 110 million euros ($131 million), largely as a result of challenges in the U.S. production business and adverse currency fluctuations, even though global distribution revenues did increase.
For the full year, ProSiebenSat.1 expects a revenue increase in the low- to mid-single-digit-percentage range.