(AOF) – M6 published a net profit of 237.1 million euros, up 42.9% for its 2023 financial year. The audiovisual group also generated a current operating profit of 300.7 million euros over the period, down 10.6% year-on-year, resulting in an operating margin of 22.9%. Its turnover of 1.32 billion euros was down 3%. Advertising turnover is down 1.5% compared to 2022, mainly due to the decline in TV advertising turnover which reached 905 million euros, down 2.2%.
The turnover of the Production & Audiovisual Rights activity is up by 11.4 million euros compared to 2022, amounting to 67.6 million euros, driven by “the dynamism of the cinema and transfers of rights”, according to a press release from the media group.
Net cash increased by 61.6 million euros and amounted to 343.6 million euros, compared to 282 million euros, as of December 31, 2022.
The performance achieved in 2023 leads to a proposal to the General Meeting of a dividend of 1.25 euros, corresponding to a payout of 67%, equal to the average of the last 5 dividends paid, specifies this same press release.
In terms of prospects, M6, “while continuing to strengthen linear television, will accelerate the development of its streaming activity by launching a new platform to support its ambition”.
This ambition is based on additional investments which will be made between 2024 and 2028 and which will focus on content, distribution, technology and marketing. Up to 100 million euros will be invested by the group with the objective of doubling the group’s streaming turnover as well as the number of hours viewed on the platform by 2028.
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