RTL Group, the leading European entertainment network, announces its interim results to 30 June 2007.
Highlights
| in EUR million | Half Year to June 2007 | Half Year to June 2006 | Per cent Change (%) |
| Revenue | 2,891 |
2,854 |
+1.3 |
| Underlying revenue* |
2,859 |
2,751 |
+3.9 |
| Reported EBITA** | 515 | 478 | +7.7 |
| Restructuring charges | 6 | (9) | |
| Start up losses*** | (14) | (7) | |
| Adjusted EBITA | 523 | 494 |
+5.9 |
| Reported EBITA margin (%) | 17.8 | 16.7 | |
| Reported EBITA |
515 |
478 |
|
| Impairment of goodwill and amortisation of fair value adjustments on acquisitions | (129) | (6) | |
| Gain/(loss) from sale of subsidiaries, joint ventures and other investments |
96 |
7 |
|
| Net financial income | 17 |
6 |
|
| Income tax expense |
(141) |
(130) |
|
| Profit for the period |
358 |
355 |
+0.8 |
| Attributable to: |
|
|
|
| Minority interest |
68 |
59 |
|
| RTL Group shareholders | 290 | 296 | |
| Basic EPS |
1.89 |
1.93 |
|
| Adjusted Net Profit | 296 |
282 |
+4.9 |
| Adjusted EPS (EUR)**** |
1.93 |
1.84 |
+4.9 |
* Adjusted for TPS, Five digital channels, Belgian radio and other minor scope changes
** EBITA represents earnings before interest and taxes excluding impairment of goodwill and amortisation of fair value
adjustments on acquisitions and gain/(loss) from sale of subsidiaries, joint ventures and other investments
***Primarily launch costs of digital television channels in France and the UK
****Adjusted earnings per share represents the net profit for the period adjusted for impairment of goodwill and amortisation
of fair value adjustments on acquisitions and gain or loss from sale of subsidiaries, joint ventures and other investments,
net of income tax expense and one-off tax effects
For the first time, half-year EBITA of more than EUR 500 million
- Reported EBITA of EUR 515 million, up 7.7 per cent
- Reported Group revenue up 1.3 per cent to EUR 2,891 million despite the sale of TPS
- Reported EBITA margin improved to 17.8 per cent
- Net profit attributable to RTL Group shareholders stable at EUR 290 million despite impairment of goodwill of the UK TV activities amounting to EUR 123 million
- Net cash from operating activities of EUR 432 million resulting in an operating cash conversion of 96 per cent
- Improved advertising conditions in most countries
Significant EBITA improvement at main profit centres German family of channels, M6 Group and FremantleMedia
- German family of channels increased its audience lead over ProSiebenSat1 to 4.5 percentage points, EBITA up 5.6 per cent
- M6 with its best ever gross advertising market share in a first half-year, EBITA of M6 Group up 7.9 per cent
- FremantleMedia again with strong business performance, EBITA up 8.3 per cent
- French radio family has regained market leadership, with RTL Radio gaining more than one million additional listeners in one year
Consistent strategic course continued
- Best audience market share for the German family since 2003, with all channels reporting higher audience shares in their target group
- Dynamic growth of M6 Group’s digital channels, W9 since June 2007 the most-watched new channel on free DTT in France
- Asset deal with Talpa Media will strengthen RTL Nederland, integration of Radio 538, launch of fourth free-TV channel RTL 8
- M6 Mobile by Orange with one million subscribers at the end of July 2007, one year ahead of plan
“Concept of strong families of channels pays off”
Gerhard Zeiler, Chief Executive Officer of RTL Group said:
“I am delighted that we managed to top the strong first-half performance seen in 2006. The operating result for the first six months exceeded EUR 500 million for the first time, largely fueled by our three major profit centres - the family of channels in Germany, the M6 Group in France, and FremantleMedia.”
“Despite the sale of TPS, revenues reached the record level achieved in the first half of 2006, which was also boosted by high advertising revenue in the lead-up to the Football World Cup.”
“At the same time, the results highlight how important our strategic concept of strong families of channels is. The RTL family grew its audience market shares considerably in the very competitive German market. In France, M6 Group’s digital channels showed very dynamic growth, led by W9. And the deal with John de Mol will help us to further enhance the position of RTL’s Dutch family of channels.”
“We remain cautious but optimistic on the outlook for advertising in the second half of the year where visibility remains limited.”
Conference Call RTL Group Results for press:
Date: Tuesday, 28 August 2007
10.30 (Luxembourg) / 9.30 (London)
Number to dial: +44 20 7162 0025
Replay details: There will be a 9 day replay available from 28 August to 6 September 2007,
by dialing: +44 20 7031 4064
Passcode: 760330
The slides of the presentation and the mp3-file are available on www.rtlgroup.com
About RTL Group
RTL Group is the leading European entertainment network, with interests in 39 television channels and 29 radio stations in ten countries and content production throughout the world. The television portfolio of Europe’s largest broadcaster includes RTL Television in Germany, M6 in France, Five in the UK, the RTL channels in the Netherlands, Belgium, Luxembourg, Croatia and Hungary, Ren TV in Russia and Antena 3 in Spain. RTL Group’s flagship radio station is RTL in France, and it also owns or has interests in other stations in France, Germany, Belgium, Spain and Luxembourg. RTL Group's content production arm, FremantleMedia is one of the largest international producers outside the US. Each year, it produces more than 10,000 hours of programming in 22 countries.