RTL Group, Europe's largest commercial television group, is on track to bounce back faster than expected from the downturn triggered by the coronavirus pandemic.
In preliminary, unaudited figures released Wednesday, RTL said it booked adjusted operating profits (EBITA) of $1.032 billion (€850 million) last year, well below the $1.4 billion (€1.156 billion) the group earned in 2019, but significantly better than RTL's original forecast, which had predicted adjusted EBITA of around $875 million (€720 million).
RTL said television advertising markets in Europe bounced backed faster than expected from the decline that followed the economic slump set off by the coronavirus pandemic and subsequent lockdowns across the continent.
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