German media group ProSiebenSat.1 has reported a 7.9 per cent increase in Q3 core earnings, on higher TV advertising sales and ongoing growth of its digital business. Earnings before interest, taxes, depreciation and amortisation, excluding special items from continuing operations (REBITDA), rose to 162.9 million euros ($203.3 million),
ProSiebenSat.1 said it still expected 2014 revenue to rise by a high-single-digit percentage, while it anticipates a further increase in recurring EBITDA and consolidated underlying net income.
“In the third quarter of 2014, we grew profitably in all segments and are aiming for another record year,” said the broadcaster’s Chief Executive Thomas Ebeling. “Thanks to continuous expansion and the linking of our TV business to the digital segment, we have laid an excellent foundation for further growth,” he added. ProSieben last month raised it revenue 2014 and said it would reach its 2015 revenue growth target already by the end of this year.