RTL Group: 2021 forecasts raised, with focus on content
(CercleFinance.com) - On Friday RTL Group raised its targets for FY 2021, buoyed by a recovery in the advertising market and the development of its streaming business.
The European television and radio broadcasting group, which is in the middle of a strategic transformation, now expects annual revenues of around 6.5 billion euros, up from a previous target of 6.2 billion euros.
The subsidiary of Bertelsmann group is also targeting adjusted EBITA of 1.05 billion euros, compared to 975 million euros previously.
H1 revenues rose by 13.7% to three billion euros, including organic growth of 21.5% (+2.1% compared to H1 2019).
Meanwhile, adjusted EBITA rose by 87% to 483 million euros.
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