ProSiebenSat.1 raises outlook following stellar ad growth

German commercial broadcast group ProSiebenSat.1 has raised its full-year outlook after posting strong revenue growth for the third quarter, driven by ad revenues in particular.

The company posted revenues of €1.055 billion, up 15%, with EBITDA up almost 9% to €162 million.

ProSiebenSat.1 said that revenues were now above pre-pandemic levels across all segments.

Entertainment revenues, including TV, were up by 15% to €728 million. Advertising revenues were up 18% in the third quarter, taking them above pre-pandemic levels.

Programme production and sales revenues were up 20% year-on-year.

The successful quarter helped the group raise its full-year revenue and EBITDA targets. The company now expects revenues of €4.5 billion with a variance of plus or minus €50 million, against an expectation previously of between €4.4 billion and €4.5 billion.

“We are very pleased with the development of ProSiebenSat.1. We posted record quarterly revenues for the second time in a row and significantly improved our profitability over the course of the year – the result of our successful strategy. Our Entertainment advertising revenues in the German-speaking region were even at the highest level in a third quarter ever. This again underlines the strength and sustainability of our medium. At the same time, our good performance throughout the Group proves that all signs point to growth also in the future,” said CEO Rainer Beaujean.

“We have therefore raised our full-year targets once again. The P7S1 return on capital employed is an important KPI to measure our success. Its now expected improvement to over 13% reflects our clear and focused strategy and shows that we are well on track to reach our medium-term target of 15% faster than planned.”