TF1 back to profit despite lower ad revs

Pascale Paoli-Lebailly | 08-11-2013

French private broadcaster TF1 has reiterated its full-year 2013 consolidated revenue forecast of €2.5 billion on a constant basis despite a "continuing poor visibility and strong volatility in the advertising market".

Posting higher operating profit for the third quarter of €33.5 million, up 65% over one year, and a net profit at €19.6 million compared to a €5.9 million loss in 2012, the group also registered lower ad sales over the period.

Tf1 Group's ad revenues are down 3.3% in the third quarter, reaching €339.8 million out of a total revenue down 2.5 % at €538 million.

During the third quarter, the group generated €13 million of recurring savings under Phase II of its optimisation plan, that includes €8 million of programming cost cuts.

Since June 2012, the recurrent savings amount to €44 million out of the €85 million target to be achieved by the end of 2014.