BERLIN (dpa-AFX) - ProSiebenSat.1 Media SE (PBSFF.PK), a media company, Thursday reported wider loss for fiscal 2023. Revenue too declined for the year.
Further the company provided its outlook for fiscal 2024.
Yearly loss widened to 134 million euros from 49 million euros in the last year.
Excluding items, it reported profit that decreased to 225 million euros from 301 million euros in the previous year.
Adjusted EBITDA declined to 578 million euros from 678 million euros in the prior year.
Group Revenue reduced 7 percent to 3.85 billion euros from 4.16 billion euros in the prior year, characterized by uncertainty among consumers and the associated restraint in investment by the advertising industry.
'In addition to the expected overall decline in advertising revenues over the course of the year, the disposal of the US production business of Red Arrow Studios as of July 1, 2022, had a significant effect on segment revenues,' ProSiebenSat.1 Media said in a statement.
Looking forward to the full year, the company expects Adjusted EBITDA of EUR 575 million with a variance of plus/minus 50 million euros and 3.95 billion euros in revenue with a variance of plus/minus of 150 million euros.
On Wednesday, ProSiebenSat.1 shares closed at EUR 6.41, up 3.15% in Germany.
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