RTL posts half-year loss

Pan European broadcaster RTL Group’s CEO Gerhard Zeiler said the company would post positive full-year results despite the group reportihg a net loss for the first half of 2009.

The group, which owns 45 broadcasters across 11 countries including Germany’s RTL, France’s M6 and UK’s Five as well as production and distribution businesses such as FremantleMedia, recorded a loss of €105m for the six months to the end of June, compared with a net profit of  €338m a year earlier. This was attributed to goodwill impairments for Five in the UK and Alpha Media in Greece.

Revenue was down 9.6% to €2.9bn for the quarter, while reported EBITDA was down 36.7% to €318m.

RTL said it doesn’t expect any change in the declining European advertising market during the second half of the year but Zeiler said he was confident the group would post a positive full-year result.