Outlook

The following outlook assumes that the economic recovery continues in 2021, in particular in Q2/2021, as current lockdown measures are gradually eased and vaccination programmes against Covid-19 progress. 

  • RTL Group expects its revenue to increase to approximately €6.2 billion. This includes organic growth of 8 per cent and the effects of the deconsolidation of BroadbandTV.
     
  • RTL Group expects its Adjusted EBITA for 2021 to grow to approximately €975 million. This includes streaming start-up losses of approximately €150 million.
     
  • RTL Group’s dividend policy remains unchanged: RTL Group plans to pay out at least 80 per cent of the adjusted full-year net result.
     

 

2020

2021e

Revenue

€6,017m

~€6,200m

Adjusted EBITA

€853m

~€975m

Streaming start-up losses

€55m

~€150m

“Adjusted EBITA before streaming start-up losses”

€908m

~€1,125m

 

RTL Group: strategic targets for the streaming services TV Now and Videoland

 

2020

2025e

Paying subscribers

2.19m

5m to 7m

Streaming revenue

€170m

>€500m

Content spend per annum

€117m

~€350m

Adjusted EBITA break-even expected by 2025.

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