November 3, 2016 / 7:00 AM / 3 years ago

ProSiebenSat.1 Q3 core profit beats expectations

FRANKFURT, Nov 3 (Reuters) - German broadcaster ProSiebenSat.1 reported higher-than-expected quarterly core profit on Thursday, helped by its digital operations and advertising income from its German-language television business.

Earnings before interest, tax, depreciation and amortisation (EBITDA), excluding special items from continuing operations, rose 13 percent to 202 million euros ($224.50 million) in the third quarter to the end of September, just ahead of the average analyst estimate of 198 million euros in a Reuters poll.

ProSieben said it still expected revenues to rise by at least 15 percent this year, while recurring EBITDA and underlying net income will exceed the previous year’s level.

The broadcaster of “Germany’s Next Top Model” hosted by Heidi Klum and diet programme “The Biggest Loser”, earlier this month said that it expects to lose ground to rivals in the German TV advertising market this year, overshadowing an increase of its forecasts for overall sales as its online businesses got a boost from TV promotions.

$1 = 0.8998 euros Reporting by Harro ten Wolde; Editing by Maria Sheahan

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