TF1: renews guidance for 2018 and 2019

(CercleFinance.com) - After trading on Wednesday TF1 reported Q1 net income group share of 24.
8 million euros, down 11.4% y-o-y, considering that Q1 2017 included part of the sale of the stake in AB Group.

However, underlying operating income grew by 3.8% to 38.3 million euros, while revenues declined slightly (-0.8%) to 499.3 million euros.

TF1 has confirmed all of its guidances, i.e. an increase in its underlying operating margin for the group (excluding major sporting events) as from 2018; average programming cost that has been cut to 960 million euros (again excluding major sporting events) for free-to-air channels over 2018/2020; growth in non-advertising business of the free-to-air channels which should represent at least on third of consolidated revenues in 2019; and a target for a double-digit operating margin in 2019.


Copyright (c) 2018 CercleFinance.com. All rights reserved.