RTL Group 2020 Adjusted Earnings, Revenue Ahead of Guidance
January 27 2021 - 3:14AM
Dow Jones News
By Mauro Orru
RTL Group SA said Wednesday that adjusted earnings before
interest, taxes and amortization as well as revenue for 2020 are
ahead of company guidance and analysts' consensus amid
stronger-than-expected TV advertising in Europe, according to
preliminary figures.
The Luxembourg-based media company said adjusted Ebita for 2020
came in at about 850 million euros ($1.03 billion), down from
EUR1.16 billion in 2019.
However, the result "significantly exceeds" guidance of around
EUR720 million for 2020 adjusted Ebita, the company said.
RTL Group said TV advertising markets in Europe performed
significantly better than expected in the fourth quarter. Revenue
for the year fell to about EUR6 billion from EUR6.65 billion, but
still beat guidance of around EUR5.8 billion.
Analysts at U.S. bank Citi said the company's 2020 adjusted
Ebita beat Visible Alpha consensus of EUR765.5 million and Citi
estimates of EUR734 million, with revenue exceeding Visible Alpha
consensus of EUR5.92 billion and Citi estimates of EUR5.85
billion.
The guidance beat could lead to a higher-than-forecast dividend
based on the group's policy of paying out at least 80% of net
profit, Citi analysts added.
RTL Group will publish 2020 results on March 12.
Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94
(END) Dow Jones Newswires
January 27, 2021 03:59 ET (08:59 GMT)
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