RTL: targets lowered with economic slowdown

(CercleFinance.com) - RTL Group shares are down on Friday after the company lowered its financial targets for the current financial year due to the economic slowdown, which is beginning to weigh on its advertising revenues.


The European television and radio broadcaster now targets adjusted EBITA of 1.05 to 1.15 billion euros for 2022, compared to the 1.15 billion euros it previously expected.

In the first half of the year, adjusted Ebitda rose by 3.7% to 501 million euros, on revenues that rose 8.7% to almost 3.3 billion euros, figures that were just above the consensus.

At just after 11 am, RTL shares were down over 3% in Frankfurt, underperforming the STOXX Europe 600 Media index, which was down almost 1% at the same time.



Copyright (c) 2022 CercleFinance.com. All rights reserved.