ProSiebenSat.1 Group has reported a 4 percent decline in revenues to €1.8 billion ($2.1 billion) and adjusted net income of €230 million ($268 million) for the first half of 2018.
Adjusted EBITDA was at €459 million ($535 million) in the first half, essentially flat on the previous year’s H1.
In the entertainment arena, revenues in the first half of the year remained on par with the previous year’s level, as TV advertising revenues were largely stable. In the content production and global sales segment, currency effects and the continuing demanding environment in the U.S. production market resulted in a revenue decline in the first half. The commerce segment with NuCom Group saw segment revenues increase by 10 percent.
Dr. Jan Kemper, CFO of ProSiebenSat.1 Media, said: “We are operating in a demanding market environment, which impacted growth in our content production and global sales and entertainment segments in the first half of the year. At the same time, however, our third segment, commerce with NuCom Group, was able to accelerate its organic growth. Due to the seasonality of our business models, we now anticipate the second half of the year to be stronger, as it has been the case in previous years.”
Max Conze, CEO of ProSiebenSat.1 Media, commented: “Our environment is developing faster and faster, therefore we need to initiate important changes now. We will place an even stronger focus on building an entertainment business offering linear and digital content end-to-end. At the same time, we want to establish a total reach with one video currency. Our 7TV joint venture will be one critical pillar for this, too. We will be viewer and consumer-centric in everything we do. We are currently working intensely on a strategic update and will present the results at this year’s Capital Markets Day in November. I am confident that we will thus continue to drive the transformation of our company and shape our growth.”