PARIS (Agefi-Dow Jones)–The audiovisual group TF1 announced on Friday a multiplication by more than four of its net profit in 2021, a year marked by the announcement of the planned merger with competitor M6.
For the whole of last year, the company’s net profit jumped 307%, to 225.3 million euros, while its turnover increased by 16.6%, to 2.43 billion euros. The group’s revenues also exceeded their 2019 level by 3.8%, TF1 said.
The group benefited in particular from a strong demand for advertising space which was “confirmed throughout the year”, he indicated.
Current operating income increased by 80.5% to 343.2 million euros. In one year, the current operating margin fell from 9.1% to 14.1%.
TF1 was aiming for a current operating margin rate of 12%.
Analysts polled by FactSet for their part anticipated an average turnover of 2.36 billion euros and a net profit of 190 million euros.
For the fourth quarter alone, current operating income amounted to 120.1 million euros, compared to 64.5 million euros over the same period of 2020. Net profit was 78.1 million euros, against a loss of 22 million euros a year earlier. Quarterly revenue increased by 8% over one year, to 776 million euros.
The audiovisual group also indicated that its proposed merger with M6 was continuing “in a schedule consistent with that initially planned”.
TF1 and M6 signed the agreements in July relating to a merger between the two groups, which then indicated that the operation should be finalized by the end of 2022 at the latest.
TF1 will propose to pay a dividend of 45 euro cents per share for the 2021 financial year at its general meeting of April 14, 2022. The group will also propose on this date to renew the directorships of CEO Gilles Pélisson , as well as Marie Pîc-Pâris Allavena and Olivier Roussat.
-Julien Marion, Agefi-Dow Jones; +33 (0)1 41 27 47 94; [email protected] ed: LBO
TF1 FINANCIAL RELEASES:
http://www.groupe-tf1.fr/finance/
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February 11, 2022 02:07 ET (07:07 GMT)