LUXEMBOURG (dpa-AFX) – After a bitter drop in profits in the first half of the TV group RTL Group has & lt; RRTL.ETR & gt; lowered its forecasts. The interim dividend will be lower. All of this made in the stock market on Thursday for great disappointment.
In particular, because of poor business in France and the new advertising tax in Hungary, the company now expects a “slight” decline in sales this year. The operating profit (EBITA) is significantly stronger decline, as the largest advertising-funded broadcasting group in Europe announced in Luxembourg on Thursday. Previously the company had been largely stable results in view.
In September, shareholders receive a share certificate for 2 euro paid, one year ago it was 2.50 euros. Analysts had expected a stable distribution. The stock went into a tailspin and lost in the first hour of trading over 7 percent in value. She was lt by far the biggest loser in the MDAX &; MDAX.ETR & gt;.
RTL BRAVES FOOTBALL HYPE
In the first half, sales fell compared with the same period last year by 2.5 percent to almost 2.7 billion euros. Operating profit fell by 6 percent to 519 million euros. On balance, the surplus fell by even more than half a million euros to 202. This was partly due to write-downs totaling 88 million euros on the Hungary-business. On the other hand, there had been ups in Spain a year ago, which did not recur.
“Our results for the first half of 2014 show a mixed picture,” said the two co-heads of Schäferkordt and Guillaume de Posch . As income support once again proved to the Germany business, which at the public competition to be Ebitda increased despite the football World Cup by 2.3 percent to 313 million euros. In the Benelux countries was about 15.8 per cent upwards.
DISAPPOINTMENT IN FRANCE
In contrast, the French subsidiary M6 earned eleven percent less. While advertising revenue rose in all RTL markets, they went back to France. This reflects, according to RTL against the difficult economic situation in the country. A sharp drop in profits was also made in the production division FremantleMedia. The area suffered significant drop in sales revenue, the strong euro and non-recurring costs.
indignation prevails at RTL about the politics in Hungary. Depreciation see the “serious damage” is caused by the new advertising tax “with its confiscatory effect,” declared Schäferkordt and de Posch. “The hasty introduction of the advertising tax is an alarming sign for all international investors in Hungary.” At the same time the two managers known to the local business. “Our success, both in the audience and financially, based on a local, decentralized management structure and political independence. RTL is deeply rooted in Hungary and will remain so.” / Enl / stk