ProSiebenSat.1 has taken the unusual decision to provide an overview of its fourth quarter results prior to the audit of the financial statements. And that’s good news for the German broadcasting giant, which said its turnover of 4 billion euros ($ 4.9 billion) exceeded expectations despite the uproar from the coronavirus pandemic. .
Commercial broadcasters came under particular pressure last year after the collapse of the advertising market, but ProSiebenSat.1 – which owns the Love is blind production group Red Arrow Studios – said its turnover exceeded its target of 3.85 billion euros. He added that its unaudited EBITDA of 700 million euros is also ahead of forecast by 600 to 650 million euros.
“The significantly better than expected business development is due to a strong performance in the fourth quarter to which all segments of the ProSiebenSat.1 Group contributed. The main driver was in particular the growth of the Group’s advertising activity in the low-digit percentage range, ”said ProSiebenSat.1.
Verified results will be released on March 4.