(Finance) – ProSiebenSat.1a leading German radio and television group that has MFE among shareholders, increased its own revenues In the first quarter 2024 by 6% to 867 million euros compared to the first quarter of 2023 (previous year: 816 million euros). The recovery of television advertising revenues.
L’Adjusted EBITDA increased by 35% to 72 million euros in the first quarter. L’adjusted net profit improved significantly compared to the previous year by 22 million euros to 8 million euros (previous year: -15 million euros), mainly reflecting the development of adjusted EBITDA and lower tax expenses. L’net financial debt it improved compared to the previous year, reaching 1,553 million euros (31 December 2023: 1,546 million euros; 31 March 2023: 1,682 million euros).
“As expected, we started the year very well – commented Martin Mildner, Group CFO by ProSiebenSat.1 – This shows that the consistent implementation of our strategy is paying off. We were able to close the first quarter of 2024 not only with revenue growth, but also with significant earnings growth thanks to consistent cost management. The advertising market recovered slightly at the beginning of the year and we increased both our TV and digital and intelligent advertising revenues also in the German-speaking area, benefiting from an earlier Easter compared to the previous year.”
“At the same time, our Commerce & Ventures portfolio around Verivox and vials continued its dynamic and profitable growth,” he added. “Throughout the year, we will continue to execute our strategy intensively and consistently.” pursue our liquidity and cost management“.