Wednesday July 26, 2006
MediaGuardian.co.uk
Big Brother producer Endemol has reported a 22% rise in first-half revenues thanks to the ongoing popularity of its reality TV shows.
New chief executive Elias Rodriguez-Vina said today he expected Endemol sales to pass 1bn euros this year, and as a result has raised its revenue outlook for the full year.
The Dutch company's net profit rose to 45.6m euros (£31.1m) from 38.1m euros (£26m) a year ago, slightly above analysts' expectations.
Sales at Endemol rose 23% to 516.6m euros (£353.1m) from 421.4m euros (£288m), while earnings before interest, tax, depreciation and amortisation increased 14% to 87.2m euros (£59.6m) from 76.8m euros (£52.5m).
Endemol said it expected sales to grow organically by 11-13%, more than double its previous forecast of 5-6%.
However, some analysts still consider the revised forecast too cautious as it implies flat sales growth in the second half of the year.
The company, majority owned by Spanish telecoms company Telefonica, has subsidiaries in 24 countries and generates more than three-quarters of its sales from non-scripted programmes such as Deal or No Deal.
Big Brother remains its top-selling format, and is expected to be broadcast in more than 20 countries this year.
