Prosieben Sat 1 Media (PBSFF) Q3 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Please stand by. We're about to begin. Good morning, ladies and gentlemen, and welcome to our Q3 in nine months 2024 conference call of ProSieben Sat1 Media SE. This conference is being recorded. Today's call is hosted by Mr. Dirk Voigtlander. Please go ahead, sir. Good morning, ladies and gentlemen, and welcome to ProSieben Sat1's Q3 2024 results conference call, also from my side. Today's conference call will be hosted by Martin Miltner, CFO of Proceedment Set 1. As always, Martin will first take you through the group's financial and operational performance of the first nine months. He will conclude his presentation with comments on our outlook for the full year. The presentation will be followed by a Q&A session. With these opening remarks, I now hand over to Martin. Thank you, Dirk. Dear ladies and gentlemen, also from my side, a warm welcome to our Q3 analyst conference. Before we go into detail, let me give you a quick overview of our financial performance. In the first nine months, group revenues increased by 3% to €2,656,000,000. This reflects a solid performance in the entertainment segment, as well as the dynamic growth of our commerce and venture segment. However, in light of the demanding economic environment, entertainment advertising revenues in the DACH region declined by 6% in the third quarter. On the other hand, commerce and venture segment revenue grew by 19% in the first nine months, therefore compensating for the 13% revenue decline of the dating and video segment. Our adjusted EBITDA increased by 10% to 267 million euros in the first nine months. reflecting the group's revenue growth and cost savings, which more than compensated the increase in programming costs. In terms of our outlook for the full year, we confirm our targeted range for revenu...