Update M6 posts EBITA down 17.8 % -
M6 posts EBITA down 17.8 %
M6 Group has announced operating income down 17.8% in 2008 at €194m. Net result group share reached €138.4 million last year down 17.9% vs last year.
While M6 Group consolidated revenues were almost stable in 2008 at €1.35bn, the group explained the decreasing results in relation to “the decline of M6 Network contribution due to the Euro 2008 broadcasting costs.” M6, like TF1, acquired the rights for €50 million each. “Excluding sports event, the cost of programming as well as other operating expenses were under control,” M6 added.
M6 network contribution to EBITA amounted to €137.8m, down 29.9% with programming costs standing at €347m, Euro 2008 included. Digital channels confirmed their role as “growth drivers” with a strong increase in EBITA contribution to €18.9m compared to €0.3m in 2007.
DTT channels reported their “first profitable year”. Diversification and audiovisual rights contribution stood at €42.3m, slightly down compared to 2007.