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Recovering German Giant ProSiebenSat.1 Says It Ended 2023 On “Good Note” As Q3 Earnings Of $358.5M Exceed Expectations
Germany's ProSiebenSat.1 Media says it ended 2023 on "a good note" after posting earnings of €335M ($358.5M) in its fourth quarter financials.
The company called the figures a “significant increase” and attributed this to “combination of the expected positive business development in the fourth quarter of 2023 as well as various smaller and non-recurring earnings effects that arose during the preparation of the consolidated financial statements.” ProSieben said its figures are contingent on consolidated revenues increasing slightly and noted it continues to “focus on a lean cost structure, which is having a positive impact on earnings and at the same time opening up headroom for investments, especially in local content.” “In the crucial fourth quarter, our advertising revenues in the DACH region were slightly above the previous year’s level and we were able to improve our performance in many parts of the Commerce & Ventures portfolio.
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