TV advertising revenue improved in Q4 20 (+3.2%), contrary to radio advertising. The good surprise was the huge cost reduction that attenuated the effect of the drop in advertising on EBITA. 2020 EBITA reached €271m (-4.8%), above expectations, and represented 23.3% of revenue (+1.7pt). The proposed dividend with respect to FY2020 (€1.50/share) exceeded our estimate. A Strategic Committee has been created to work on the French audiovisual market consolidation issues as RTL Group intends to dispo ....
17 Feb 2021
Impressive cost reduction, strong EBITA margin
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Impressive cost reduction, strong EBITA margin
Metropole Television SA (MMT:PAR) | 0 0 -0.1% | Mkt Cap: 2,842m
- Published:
17 Feb 2021 -
Author:
Hélène Coumes -
Pages:
3
TV advertising revenue improved in Q4 20 (+3.2%), contrary to radio advertising. The good surprise was the huge cost reduction that attenuated the effect of the drop in advertising on EBITA. 2020 EBITA reached €271m (-4.8%), above expectations, and represented 23.3% of revenue (+1.7pt). The proposed dividend with respect to FY2020 (€1.50/share) exceeded our estimate. A Strategic Committee has been created to work on the French audiovisual market consolidation issues as RTL Group intends to dispo ....