Publishing its half-year results on 13 August, the group announced that for the first six months of the year it posted net income of €156 million compared with €443 million last year. As a result of the slump in advertising revenues across Europe, the company suffered a 28.3% fall in revenues in the second quarter (€1.186 billion) and a 16.4% fall (€2.652 billion) for the six months as a whole.

In a press release, CEO Thomas Rabe stated that half of the loss in turnover from April to June was offset by cost reductions. The group also believes it has gained market share in advertising and audience compared with its competitors in France, Germany and the Netherlands.

Containment has boosted streaming

The media group claims it far from lost everything during the lockdown. Its streaming activity has in fact seen a 23.1% increase in turnover on the Dutch and German markets. It amounted to €80 million at the end of June. Paid subscribers now number 1.77 million, an increase of 45.2% compared to the previous year.

Thomas Rabe also maintains the division's objectives for 2025: to reach between 5 and 7 million subscribers, to achieve a minimum of €500 million in annual revenue and to reach break-even.

Evasive forecasts

For the near future, RTL still expects a decrease in the television advertising market in the third quarter. According to its forecasts, sales in this segment will fall by 10% after a 40% drop in the second quarter. However, the group points out that market conditions are continuing to normalise.

Given the current uncertainties, however, the group has declined to make any forecasts for the fourth quarter.

Key figures for the first half of 2020

Turnover: €2.652 billion (-16.4%)

Ebita: €258 million (-52%)

Net income: €156 million (-65%)

Streaming subscribers: 1.77 million (+45.2%)