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RTL earnings hit by economy

European broadcast group RTL has reported a growth in revenues but falling earnings in its latest financial results.

The company, which operates a number of channels across the region, has reported growth in Germany but challenging market conditions in other areas. 
Revenues rose 3.3% to US$3.5 billion (€2.8 billion) but earnings in the first half of the year before interest, taxes and amortisation was down to $631 million.

However, the company expects a stronger performance for its production and distribution arm FremantleMedia in the second half of the year.

“Looking to the remainder of 2012, we maintain our cautious and flexible approach for the business, in particular as there is no visibility yet on the development of the TV advertising markets during the important fourth quarter. With the phasing of productions, we anticipate stronger second half earnings for our content business FremantleMedia. We again expect 
the Group to deliver a solid level of EBITA, although not at the record level of 2011,” said RTL Group joint chief executives Anke Schäferkordt and Guillaume de Posch.

Tags: RTL