02 September 2005
RTL Group, Europe’s leading broadcaster and content provider, announces its interim results to 30 June 2005
|Half year to 30 June 2005||Half year to 30 June 2004||Per cent change (%)|
|Underlying Revenue ||2,397||2,372||+1.1|
|Reported EBITA ||378||397||(4.8)|
|Start up losses ||(18)||(10)|
|EBITA margin (%)||15.8||16.2|
|Adjusted EBITA margin (%)||17.0||16.9|
|Amortisation and impairment of goodwill and fair value adjustments on acquisitions||(7)||(1)|
|Gain / (loss) from sale of subsidiaries, joint ventures and other investments||-||(19)|
|Net financial expense||(4)||(24)|
|Income tax expense||(6)||(114)|
|Profit for the period||361||239||+51.0|
|Equity holders of the Company||312||195||+60.0|
|Adjusted EPS EUR ||2.08||1.40||+48.6|
Continued strong operational performance
Profit Centre Highlights
Significant strategic progress
Gerhard Zeiler, Chief Executive Officer of RTL Group, said: “RTL Group has proven its resilience in the first half of this year despite difficult market conditions. We have maintained our level of adjusted EBITA and report the highest net result ever. We are benefiting from the effects of our geographically diversified portfolio of media assets with record performances coming from M6 in France, Five in the UK and Antena 3 in Spain making up for the EBITA shortfall in Germany.
Our operating performance and cash generation remained strong. This enabled us to significantly increase the dividends paid to our shareholders and reduce our financial debt.
Advertising market conditions continue to be mixed across Europe and visibility is low. Given the strength of our business we remain confident for the outcome of the full year.
This half-year has seen significant strategic progress. I am delighted that we have acquired full control of Five, giving us flexibility for the next phase of growth. In Russia, one of the fastest growing advertising markets in the world, we have invested in a strategic participation in one of the national networks, REN TV.
We continue to have the potential to create further value for our shareholders based on our three-pronged strategy: to further strengthen the channel families in the markets in which we already operate, to increase non-advertising revenue and to expand geographically.”
 Adjusted for the full consolidation of M6 and partial disposal of Sportfive in 2004
 EBITA represents earnings before interest and income tax expense excluding amortisation and impairment of goodwill and fair value adjustments on acquisitions and gain from sale of subsidiaries, joint ventures and other investments, net of income tax expense
 RTL Televizija, RTL FM and Yorin FM, launch of digital television channels and digital radio
 Adjusted earnings per share represents the net profit for the period adjusted for amortisation and impairment of goodwill and fair value adjustments on acquisitions and gain or loss from sale of subsidiaries, joint ventures and other investments, net of income tax expense
 31 December 2004 net cash position adjusted for impact of re-classification of EUR 58 million of marketable securities to equity (IAS 32 (revised))