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TF1: net profit grows 65% in 1Q, favorable effects



Paris (awp / afp) – Television group TF1 saw its net profit grow 65% in the first quarter to 40.6 million euros, thanks mainly to the effects of scope, after the acquisition in 2018 of Newen. and Aufeminin, according to results released Monday.

Its revenue grew 11% to 554 million euros, with external growth of 36 million. "The organic share is 18 million (excluding scope effects, Ed), an overall organic growth of 3.7%," Philippe Denery, group's deputy general manager, told a news conference.

An organic growth to which agreements with telecom operators and Canal + contribute to monetize the distribution of its channels. They were not all completed in the same period last year.

TF1 achieves a current operating margin of 11.4%, in line with one of its goals: double digit profitability in 2019.

The group also confirmed all of its goals for the next two years, including a total program cost of € 990 million averaged over 2019-2020 and a turnover of the Unify digital center of at least 250 million by 2021 .

In the first quarter, network costs of the group's five free-to-air channels reached 222 million euros, down nearly 8 million in one year. "This allows us to anticipate the schedule of two World Cups in the following quarters," said Philippe Denery.

In 2019, TF1 will broadcast the Women's Soccer World Cup (the 25 best games between June and July), as well as the Rugby World Cup, to be held in Japan from September 20 to November 2.

The group settled sums of around 12 and 45 million euros, according to the press. Philippe Denery confirmed that the "orders of magnitude" of these figures were correct.

Overall, the antennas recorded revenue of € 553.7 million in this quarter, an increase of 4.3%. As for the digital hub, it brought 40.5 million euros. "The activities of this division generally increase in one year, especially that of Aufeminin," according to the group's press release.

"There is a very strong seasonality in this activity," added the deputy director general. "Profitability is very low in the first quarter, but is built throughout the year."

afp / rp


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