ProSiebenSat.1 Beats 2020 Outlook Amid Strong Q4

ProSiebenSat.1 Media SE said late Thursday that its revenue, as well as adjusted earnings before interest, taxes, depreciation and amortization for 2020, exceeded company and market expectations amid strong performance in the quarter. quarter, according to preliminary figures.

The German broadcaster said revenue for the year should amount to about € 4.04 billion ($ 4.92 billion) with an adjusted Ebitda of around € 700 million, citing growth in the low single-digit percentage range as key. in the fourth quarter for your advertising business. driver.

It had previously guided 2020 revenues between EUR3.85 billion and EUR3.95 billion, with an adjusted Ebitda between EUR600 million and EUR650 million.

“We are very satisfied with our development in the fourth quarter. We are pleased that we were able to bring a conciliatory end to 2020, which was a difficult year for everyone due to Covid-19,” said CFO Rainer Beaujean.

Beaujean reiterated that current lockdown measures to contain coronavirus infections in ProSiebenSat.1’s core markets would damage its advertising business in the first quarter of 2021.

However, the company expects significant improvement in the entertainment segment year-over-year, particularly in the second quarter, he added.

ProSiebenSat.1 will publish the 2020 results on March 4.

Write to Mauro Orru at [email protected]; @ MauroOrru94

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