The ProSiebenSat.1 Group has released a report of its quarter two financial earnings for 2010, which saw an increase in group revenue growth for the German pan-European TV group. According to the report, consolidated revenues were €66.7 million higher than the same time last year, at a total of €760.6 million. Recurring costs were kept at the previous year level of €485.7 million.
TV advertising revenues for the Group increased in Germany and in the Scandinavian and Benelux markets. External revenues of the Free TV German-speaking segment rose by eight percent, while recurring EBITDA rose by 34.8 precent. For the International Free TV segment, revenue contribution increased by 10.7 percent and recurring EBITDA showed double digit growth.
The positive report is partly due to ProSiebenSat.1 Group’s efforts to reduce costs, which includes moving large parts of the Berlin operations to Munich to keep recurring costs down and the sale of news channel N24 in June.