Strong ratings despite significant cost reduction

Declining advertising markets across Europe result in significantly lower revenue and earnings - RTL Group responds with comprehensive cost cutting measures, while audience performance increases - Further investments in growth businesses

RTL Group, the leading European entertainment network, announces its interim results to 30 June 2009.


In EUR million

Half year to
June 2009
Half year to
June 2008
Per cent
Revenue 2,588 2,864 (9.6)
Underlying revenue1 2,527 2,821 (10.4)
Reported EBITA2 318 502 (36.7)
Restructuring charges (20) (6)  
Start-up losses3 (35) (11)  
Adjusted EBITA 373 519  
Reported EBITA margin (%) 12.3 17.5  


Reported EBITA







Impairment of goodwill and amortisation of fair
value adjustments on acquisitions
(234) (19)  
Gain/(loss) from sale of subsidiaries, 
joint ventures and other investments
- 7  
Net financial income/(expense) (10) 25  
Income tax expense (136) (124)  
Profit/(loss) for the period (62) 391  
Attributable to:      
                  Minority interest 43 53  
                  RTL Group shareholders (105) 338  


Basic EPS







Adjusted EPS (EUR)4 1.01 2.18 (53.7)

Regulated information
Adjusted for Alpha Media Group in Greece, other minor scope changes and at constant exchange rates
2 EBITA represents earnings before interest and income tax expense excluding impairment of goodwill and disposal groups, amortisation and impairment of fair value adjustments on acquisitions and gain or loss from sale of subsidiaries, joint ventures and other investments
3 Primarily Alpha Media Group in Greece and the digital television channels in the UK
Adjusted earnings per share represents the net profit for the period adjusted for impairment of goodwill and disposal groups, amortisation of fair value adjustments on acquisitions, gain or loss from sale of subsidiaries, joint ventures and other investments, net of income tax expense and one-off tax effects


Tough economic environment in the first half of 2009

Steady increase in cost savings combined with strong audience ratings


RTL Group’s corporate strategy remains in place - further investments in content production, digital activities and diversification businesses​


“Adapting to the new market realities”

Gerhard Zeiler, Chief Executive Officer of RTL Group, said:

“During the first half of 2009, the combination of falling advertising demand with the economic downturn on the one hand and an increasing supply of advertising airtime on the other, led to strong pressure on spot prices and discount levels. 
RTL Group expects no quick change to the TV advertising market conditions and is therefore aiming for a significantly reduced cost base in our core business. In order to adapt to the new market realities, we need to gradually lower our production and acquisition costs, and structure our processes even more efficiently.

Our goal is to achieve these savings while maintaining our leading audience market positions. This is very challenging, but achievable. In the first half of 2009, we already managed to significantly reduce costs while simultaneously increasing our audience share in many markets.

While we work hard to optimise the efficiency of our core business, we’ll also further invest in promising new opportunities - in digital channels, online video, diversification activities and content production.”


Conference Call RTL Group Results for the media:​

Date: Wednesday 26 August 2009
11.00 (Luxembourg) / 10.00 (London)
Number to dial: +44 (0) 2030 0326 66
Password: Media

The slides of the presentation and an audio file of the conference call will be available to download at

About RTL Group
RTL Group is the leading European entertainment network, with interests in 45 television channels and 32 radio stations in 11 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, Alpha TV in Greece, 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, the Netherlands, Greece, Spain and Luxembourg. RTL Group's content production arm, FremantleMedia, is one of the largest international producers outside the US. Each year, it produces 10,000 hours of programming across 57 countries.