Outlook

RTL Group has raised its outlook for 2021. This outlook assumes that the economic recovery from Covid 19 will continue in 2021, as vaccination programmes progress and no new lockdown measures are put in place.

  • RTL Group expects its revenue to increase to approximately €6.5 billion (previous guidance: €6.2 billion). This includes, among others, the scope effects of the deconsolidation of BroadbandTV (as of 28 October 2020) and SpotX (as of 30 April 2021) and of the full consolidation of Eureka (as of 17 May 2021) and Super RTL (as of 1 July 2021).
     
  • RTL Group expects its Adjusted EBITA for 2021 to grow to approximately €1,050 million (previous guidance: €975 million). This includes streaming start-up losses of approximately €150 million (unchanged guidance).
     
  • 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, including cash capital gains.
     
  2021e 2020
Revenue ~€6.5bn €6.0bn
Adjusted EBITA ~€1,050m €853m
Streaming start-up losses ~€150m €55m
'Adjusted EBITA before streaming start-up losses' ~€1,200m €908m


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

 

2025e

2020

Paying subscribers

5m to 7m

2.19m

Streaming revenue

>€500m

€170m

Content spend per annum

~€350m

€117m

Adjusted EBITA break-even expected by 2025.