Half Year 2024 Prosiebensat 1 Media SE Earnings Call Transcript
Key Points
- ProSiebenSat 1 Media SE (PBSFY) reported a 5% increase in group revenues for both the second quarter and the first half of 2024, reaching EUR907 million and EUR1.774 billion, respectively.
- The commerce & ventures segment showed strong performance with a 17% revenue growth in Q2, and a 19% increase for the first half of the year.
- Adjusted EBITDA increased by 14% to EUR91 million in Q2, supported by higher revenues and cost reductions.
- The digital and smart advertising revenues in the DACH region grew by 12%, driven by the success of the Joyn platform.
- The company confirmed its financial targets for the full year 2024, aiming for group revenues of around EUR3.95 billion and an adjusted EBITDA of around EUR575 million.
- The advertising revenues in the DACH region only grew by 1% in Q2, impacted by the European Soccer Championship and an earlier Easter date.
- The dating & video segment experienced a 9% decline in revenues for both Q2 and H1, with the dating revenues dropping by 13% due to increased competition, especially in the US.
- TV advertising revenues declined by 1% in Q2, reflecting challenges in the traditional advertising market.
- The company anticipates a potential decline in adjusted EBITDA in the second half of the year due to increased programming costs and less pronounced savings.
- The Munich public prosecutor has initiated a formal investigation into Jochen Schweizer mydays, leading to a provision in the low single-digit million euro range for impending charges.
Good morning, ladies and gentlemen. Welcome to our second quarter first half 2024 results conference call of ProSiebenSat.1 Media SE. This conference is being recorded. Today's call is hosted by Mr. Dirk Voigtländer.
Please go ahead, sir.
Good morning, ladies and gentlemen, and thank you for joining ProSiebenSat.1's Q2 and H1 2024 results conference call. Today's call will be hosted by Bert Habets, CEO of ProSiebenSat.1; and Martin Mildner, our CFO. Bert and Martin will start by presenting our financial and operational performance for the reporting period. Bert will then conclude with remarks on our outlook for the current financial year, which we have confirmed today. Following the presentation, we will open the floor for a q-and-a session.
With this, I hand over to Bert.
Good morning, everyone, also from my side, and thanks for joining our
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
