April 28, 2020 / 5:49 PM / a month ago

BRIEF-M6 Q1 Consolidated Revenue Of EUR 321.3 Million, Expects Advertising Revenue To Drop In Q2

April 28 (Reuters) - METROPOLE TELEVISION SA:

* FOR Q1 POSTED CONSOLIDATED REVENUE OF EUR 321.3 MILLION, DOWN 7.1%

* Q1 CONSOLIDATED PROFIT FROM RECURRING OPERATIONS (EBITA) STOOD AT EUR 45.6 MILLION

* TV ADVERTISING MARKET, WHICH BEGAN 2020 ON A RELATIVELY STABLE NOTE, PLUMMETED IN MARCH

* COVID-19 EPIDEMIC AND INTRODUCTION OF LOCKDOWN MEASURES LED ADVERTISERS TO CANCEL NUMEROUS CAMPAIGNS

* SECOND HALF OF MARCH WAS MARKED BY A FALL OF MORE THAN 30% IN ADVERTISING TIME

* Q1 TV ADVERTISING REVENUE FELL 8.5% OVER QUARTER (DOWN 11.8% ON A LIKE-FOR-LIKE BASIS)

* AT 31 MARCH 2020, GROUP EQUITY TOTALLED EUR 901.3 MILLION

* EXECUTIVE BOARD HAS MOREOVER DECIDED TO SUSPEND PAYMENT OF DIVIDEND FOR 2019 FINANCIAL YEAR

* GROUP EXPECTS A SIGNIFICANT REDUCTION IN ITS ADVERTISING REVENUE OVER Q2 OF 2020

* FOR Q2, GROUP HAS SET ITSELF OBJECTIVE OF ABSORBING IN REGION OF 50% OF ITS FALL IN REVENUE Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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