All activities contributed to the growth: the group’s advertising revenues (M6 channel, digital channels, Internet) increased by 10.0 per cent, while non-advertising revenues were up 8.7 per cent. On top of that all activities substantially increased their contribution in terms of current operating profit, thereby validating the group’s strategy of combining growth and profitability.
Net profit for the period came to EUR 84.4 million, reflecting a 5.5 per cent increase.
The recovery in the ad sales market, which began in March 2010, gathered momentum in Q2, yielding a 12.0 per cent growth in advertising revenues for M6 channel, however on a favourable comparison base. In H1 2010, advertising revenues for M6 were up by 7.4 per cent. Programming costs increased by 5.3 per cent to EUR 156.3 million. M6 channel (M6 channel, advertising agency and production subsidiaries) improved its current operating margin (EBITA/Rev) by 1.8 percentage point to 25.1 per cent.
Revenues from the digital channels (advertising and distribution) rose by 15.8 per cent, mainly driven by W9. The free DTT channel achieved a 2.9 per cent average national audience share over the period (audiences aged 4+; Source: Médiamétrie) and confirmed its position as the most-invested-in DTT channel (advertising expenditures) over the period (gross ad data, source Kantar Media). W9 is also the number one DTT channel among housewives under 50 with an average national audience share of 3.8 per cent.
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In the first half of 2010, diversification and audiovisual rights revenues were up 9.7 per cent to EUR 317.5 million. The segment’s total contribution to consolidated EBITA was EUR 32.3 million, up 42.9 per cent,
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