The television group ProSiebenSat.1 is in the red. Viewers have seen a little more television in recent months, but advertisers have far fewer spots. The result: Group sales fell 25 percent in the second quarter to EUR 709 million, and the bottom line was a loss of EUR 61 million.
Board spokesman Rainer Beaujean saw a little light at the end of the tunnel on Friday: In July, advertising revenues were only 20 percent lower than in the previous year, and “in August there is currently a further improvement of around 10 percent”, he said.
However, it will not be possible to make up for the declines that have arisen by autumn until the end of the year. In normal years, ProSiebenSat.1 generated about half of its operating profit between September and December. But given the uncertainty about the progress of the Corona epidemic, the board could not give an annual forecast.
With 1.2 billion euros in cash, the company’s liquidity is good. In some cases, cost savings are already visible in the second quarter, but should be particularly effective in the second half of the year.
Quarterly sales in the core entertainment business and in the production business dropped by a third. Only the subsidiary Nucom was able to increase its sales slightly thanks to the partner agency Parship Group and the online perfumery Flaconi. But operating profit and net profit were deep red. ProSiebenSat.1 posted a loss of 30 million euros for the first half of the year.
- ProSiebenSat1 building: © ProSiebenSat.1