PARIS (Agefi-Dow Jones)–M6 reported on Tuesday an increase in its profitability in 2021, having benefited from record advertising revenues and good cost control.
The audiovisual group published a net result of 280.8 million euros, up 1.5%, “thus reaching its highest historical level, excluding the 2006 financial year which was marked by the sale of TPS”, the group said in a statement. The sale of TPS had generated a capital gain of 256.8 million euros.
Consolidated current operating income (Ebita) reached 346.7 million euros over the past financial year, compared to 270.7 million euros a year earlier, an increase of 28%, “reflecting the increase in advertising revenues and maintaining strict management of program and structural costs,” commented the company. The operating margin rose to 24.9%, compared to 21.3% in 2020 and 19.5% in 2019.
Turnover increased by 9.2% last year, to 1.39 billion euros. Up 16% over the year, advertising revenue reached “their highest historical level […] in a context of economic recovery and dynamism of household consumption”, underlined M6.
According to the consensus established by FactSet, analysts on average forecast a net result of 212 million euros in 2021, an Ebita of 323 million euros and a turnover of 1.37 billion euros.
In terms of distribution to shareholders, M6 has indicated that it will be proposed at the general meeting of April 26 to distribute a dividend of 1 euro per share, with an ex-dividend date scheduled for May 4 and payment on May 6, 2022.
Regarding its outlook for 2022, the group indicated that “advertising activity remains[ait] correctly oriented at the start of the year, in a still uncertain health context and while the electoral period which is opening traditionally reduces visibility on the advertising market.
“The group intends to continue its efforts in the development of its streaming platforms, both through its AVOD offer (6play) and with its SVOD offer (Salto)”, he added.
– Franois Berthon, Agefi-Dow Jones; +331 41 27 47 93; [email protected] editor: LBO
M6 FINANCIAL RELEASES:
http://www.groupem6.fr/finance/information-regulated/communiques-financiers/
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February 15, 2022 12:28 ET (17:28 GMT)