First-Half Revenues Slip at M6

PARIS: Ad revenues at M6 Group were down by 2.2 percent in the first half of the year, with the French broadcasting group’s overall revenues for the period down by 1.2 percent to 710.8 million euros.

Ad revenues at the M6 channel fell 4 percent to 342.1 million euros, but ad revenues from the group’s other platforms did rise by 6.3 percent to 81.4 million euros. Overall ad revenues fell to 423.5 million euros. Non-advertising revenues were stable at 287.3 million euros. For the period ended June 30, 2012, M6’s EBITA was down by 14 percent to 125.3 million euros. However, profit was up by 3.1 percent to 94.4 million euros, thanks to a 20.2 million euros capital gain on the sale of its investment in Summit Entertainment.

By segment, the M6 network contributed total revenues of 351.5 million euros, down 2.8 percent, with an operating income that was down by 25.6 percent to 84.4 million euros, largely due to increased costs from broadcasting EURO 2012. Digital channels increased revenues by 3 percent to 91.5 million euros, with EBITA slipping 5.9 percent to 18.8 million euros. Diversification and audiovisual rights revenues were flat at 267.7 million euros, with operating income rising to 24 million euros.

Looking ahead, the group said that a recovery in the ad market in the second half is unlikely, but it is confident it will retain its share of the ad pie thanks to continued audience growth.