Revenues Stable at ProSiebenSat.1 in Q1


First-quarter revenues at ProSiebenSat.1 Media were stable at €926 million ($999 million), with adjusted net income falling to €58 million ($62.5 million).

The company was experiencing good results until COVID-19 shutdown measures began in mid-March. “Until Germany’s coronavirus related restrictions started, we were performing well in the first quarter,” said Rainer Beaujean, chairman of the executive board and CFO. “Since then, we have been seeing impacts of the pandemic in many of our businesses. We are therefore systematically addressing all non-business critical costs and setting up ProSiebenSat.1 securely for the future also thanks to stable liquidity. In this extraordinary situation, special thanks go to our employees, who are creating new programs and advertising ideas and are adapting our productions as well as NuCom Group’s services and products to the constantly changing circumstances with impressive creativity, dedication and pragmatism. I am very confident that we will thus navigate ProSiebenSat.1 well through this crisis together.”

The SevenOne Entertainment Group saw revenues dip by 3 percent to €563 million ($607 million), with ad revenues down 4 percent. Red Arrow Studios reported stable revenues at €134 million ($145 million). NuCom, the company’s commerce arm, reported revenues that were 15 percent higher at €228 million ($246 million).

Looking ahead, ProSiebenSat.1 Group expects that its businesses will be “heavily impacted by the COVID-19 pandemic.” Ad revenues were down 40 percent in April, and production postponements are affecting Red Arrow Studios.