ProSiebenSat.1: full-year results above guidance, consensus

(CercleFinance.com) - ProSiebenSat.
1 Group on Thursday reported preliminary results for the full-year of 2020 that were materially above guidance and market expectations.

In its preliminary results, the German broadcaster said adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) was around 700 million euros last year, above the consensus of 650 million euros.

ProSieben said it achieved revenues of about 4.04 billion euros, above the consensus of 3.9 billion euros.

For the record, the company had targeted full-year 2020 revenues of 3.85-3.95 billion euros, with an adjusted EBITDA of 600-650 million euros.

These better-than-expected results were driven by a strong performance in the fourth quarter, to which all the group's segments contributed, ProSieben said.

The broadcaster cited, however, a continuous improvement in the advertising business over the course of 2020, despite the impact of the Covid-19 pandemic.

ProSiebenSat.1 said it will report full-year 2020 results and its financial outlook for 2021 on 4 March. The shares were trading 4.8% higher in Frankfurt on Friday morning.

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