March 7, 2018 / 7:04 AM / in 10 months

RTL sees revenues growing 2.5-5 pct in 2018

FRANKFURT, March 7 (Reuters) - European broadcaster RTL Group forecast a slight pickup in the pace of revenue growth this year after its sales grew 2.2 percent last year, while core profits would remain broadly stable.

RTL, controlled by German publishing group Bertelsmann , forecast top-line growth of between 2.5 percent and 5 percent this year.

Revenues in 2017 came in at 6.37 billion euros ($7.92 billion) just shy of average expectations in a Reuters poll of analysts at 6.41 billion euros. Earnings before interest, taxation and amortisation (EBITDA) rose by 3.8 percent to 1.46 billion euros - slightly better than analysts had expected.

Core profits would remain “broadly stable” the company said on Wednesday, after stripping out the positive one-off impact of the sale of buildings in last year’s results.

RTL said it would propose a final dividend of 3 euros per share, on top of an interim dividend of 1 euro paid last September, representing a dividend yield of 5.9 percent to its shareholders. ($1 = 0.8047 euros) (Reporting by Douglas Busvine Editing by Ludwig Burger)

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