Weak Ad Revenue Hurts TF1 Results

PARIS: Over the first nine months of the year, TF1’s revenues were relatively flat, rising 0.8 percent to 1.9 billion euros ($2.36 billion), with channel ad revenues down 7.1 percent year-on-year to 979.5 million euros ($1.25 billion).

Advertising revenue for the TF1 group as a whole was down 1.5 percent to 1.25 billion euros ($1.6 billion), with the decline for the TF1 channel offset by the 26.2-percent growth in advertising revenue from other media, including Eurosport, the Internet, digital terrestrial TV, radio and print media.

Operating profit dipped 33.8 percent to 129.4 million euros ($164.9 million) and net profit attributable to the group was down 30 percent to 87.6 million euros ($111.6 million).

The group is anticipating flat consolidated revenue for 2012 as a whole. It has already entered into Phase II of its optimization plan, which it believes will enable the TF1 group to deliver 85 million euros ($108 million) of recurring savings by the end of 2014 by reducing overhead, increasing productivity and optimizing programming costs.