RTL Group, owner of Five, has reported a 1.2% rise in revenue to €5.7 million for the year ending December 31 2008, with underlying revenue at constant exchange rates up 2.6%.
Earnings before the deduction of interest, tax and amortization (EBITA) were up 2% to €916 million.
The net profit attributable to RTL Group shareholders was down to £194 million (2007: €563 million), mainly due to an impairment of goodwill of the UK TV activities amounting to EUR 337 million, said RTL.
Gerhard Zeiler, RTL Group chief executive officer, said: “In spite of increasingly difficult advertising markets in Europe, in 2008 RTL Group increased its revenue and operating result for the seventh year running. The company has a broad-based, secure setup, and is active in many countries and business areas. In particular, strong performances at Mediengruppe RTL Deutschland and FremantleMedia contributed to the increase in profits.”
He added: “Operating in a very challenging time, we are experiencing a substantial slowdown in advertising bookings. We will respond to this by focusing on our core business, and by reviewing all costs and structures. This will result in a significantly lower cost base in all of our operations.
“Given the current state of the advertising markets, and the very short-term bookings cycle, it is impossible to give reliable full-year guidance. But it has to be expected that the profitability level will be down compared to 2008.”
