TF1 profits up €50m

Revenue for the first half of 2017 reached €1.04 billion ($1.2 billion) at TF1, up 1.1 percent, as costs were down considerably thanks to the year-on-year comparison with the spend for the Euro 2016 football championship.

Group advertising revenue of €782.1 million ($910 million), up 1.6 percent, was led mainly by stronger revenue from the DTT channels and a solid performance in sponsorship.

Current operating profit was €107.6 million ($125.3 million), an increase of 87.1 percent year-on-year, including €30.7 million ($35.7 million) of savings arising from the lack of any major sporting events during the first half of 2017. The group posted an operating profit of €96 million ($111.8 million) after charging €11.6 million ($13.5 million) of non-current expenses related to the “amortisation of intangible assets” identified in connection with the Newen Studios acquisition. Net profit attributable to the group was €74.6 million ($86.8 million), including the gain from the divestment of the equity interest in Groupe AB.

Advertising revenue for the group’s free-to-air TV channels rose by 1.2 percent year-on-year, thanks to strong DTT audience figures and sponsorship revenue. The cost of programmes for the first half was €482.2 million ($561.4 million), a saving of €15.6 million ($18.2 million) compared to the first half of 2016. The broadcasting segment recorded a current operating profit of €91.5 million ($106.5 million), up €53.5 million ($62.3 million) year-on-year.

Revenue for the studios and entertainment segment fell by 3.1 percent year-on-year to €181.3 million ($211 million).

 

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