August 30, 2017 / 6:16 AM / a year ago

RTL beats Q2 expectations despite challenging ad market

FRANKFURT, Aug 30 (Reuters) - European broadcast group RTL beat expectations with a 9 percent increase in second-quarter revenue thanks to its FremantleMedia production arm despite a “challenging” TV advertising market, and confirmed its 2017 forecasts.

Revenue rose to 1.57 billion euros ($1.88 billion), beating the average forecast of 1.54 billion euros in a Reuters poll.

Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) rose 4 percent to 362 million euros, in line with the poll average.

RTL said on Wednesday all the European TV ad markets in which it was active decreased during the first half, echoing comments from German rival ProSieben and advertising groups including WPP.

RTL said it would accelerate its digital strategy in response, taking full ownership of ad-serving platform SpotX and making other ad technology investments. It added that it would pay an interim dividend of 1 euro per share in September.

$1 = 0.8359 euros Reporting by Georgina Prodhan; Editing by Maria Sheahan

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