TF1 Quarterly Operating Profit Up

PARIS: The TF1 group posted an operating profit of 86.5 million euros ($114.2 million) for the second quarter, an 11-percent gain on the same period a year ago.

For the first half of 2013, consolidated revenue was 1.2 billion euros ($1.58 billion), down 7.2 percent year on year. For the half year, the group posted a 41.7-percent dip in its operating profit, which was 70.8 million euros ($93.5 million). Group ad revenue was 820.2 million euros ($1.08 billion) for the first half of 2013, down 8.5 percent.

The group’s four free-to-air channels achieved audience share of 29 percent among those ages 4-plus for the first six months of the year, up 0.6 percent. Audience share for the flagship TF1 was 22.9 percent.

Revenue from the broadcasting and content segment for Q2 was down 7 percent. Ad revenue from the free-to-air channels was down 8.8 percent for the first half of 2013; there was a fall of 13 percent in Q1 and 4.9 percent in Q2.

Revenue for the pay-TV segment for the first half of the year was 258.8 million euros ($341.7 million). Revenue at the Eurosport group was 2.4-percent lower, but this faced a tough comparison since the first half of 2012 saw the Eurosport group post a 21.4-percent spike in ad revenue, from the UEFA Euro 2012 as well as early Olympics ad buys.

The cost of programs for the group’s free-to-air channels for the first half of the year was 491.5 million euros ($649 million), a reduction of nearly 20 million euros ($26.4 million) from the comparative period.

The group maintains its 2013 full-year revenue forecast of 2.5 billion euros ($3.3 billion).