German broadcaster ProSiebenSat.1 has reported that Q2 revenue rose 9 per cent year-on-year to €962 million, while adjusted EBITDA rose by 6 per cent to €270 million and adjusted net income grew by 9 per cent to €144 million.
ProSiebenSat.1 also confirmed its positive outlook for FY 2017, noting that it still aims to increase revenue by at least a high single-digit percentage figure for the full year.
The broadcaster highlighted its strong performance in digital areas and its commerce business, compared to a weaker performance in the TV advertising business in Q2. However, it expects the TV advertising market to pick up again in the second half of the year with net growth of between 1.5 and 2.5 per cent. In Q2, TV advertising revenue fell 4 per cent compared to the previous year,
The group generated 50 per cent of its revenues outside the TV advertising business in the first half of the year.
Thomas Ebeling, CEO of ProSiebenSat.1, commented, “We continued our profitable growth despite the weaker development of the advertising market in the second quarter and anticipate an again positive environment within the TV advertising market for the second half of the year.”