(Reuters) – M6 reported on Tuesday a 3% increase in its turnover in the first quarter, driven by an increase in advertising revenue, but its operating profit fell 2.6% due to investments in streaming.
The television group’s consolidated turnover amounted to 322.3 million euros for the first three months of the year, after 312.9 million euros a year ago.
The contribution of television advertising revenue stood at 220.1 million euros over the period, up 2.9% year-on-year.
Current operating profit (Ebita) decreased by 2.6% to 57.9 million euros due to an increase in planned investments as part of M6’s efforts to develop streaming. The operating margin stands at 18%.
Last February, M6 announced its intention to invest up to 100 million euros to “double the group’s streaming turnover as well as the number of hours viewed on the platform (6play) by 2028.”
M6, which ratified the departure of its historic chairman of the management board Nicolas de Tavernost, replaced by David Larramendy, approved on Tuesday the renewal for four years of the mandates corresponding to the participations of Elmar Heggen and CMA-CGM, represented on the board of directors by Véronique Albertini-Saadé, as well as the appointment for four years of Philippe Delusinne, representative of RTL Group.
(Written by Augustin Turpin)
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