RTL profit hits record high

European broadcaster RTL Group has announced profit of more than €1.1bn (US$1.5bn) in 2010, thanks mainly to an improved Western Europe TV advertising market.

In a brief preliminary statement issued today, RTL said its earnings before interest, taxation and amortisation (EBITA) had grown 40% on 2009’s €796m. This exceeds average forecasts by 10% and is the first time RTL has passed the €1bn mark, the broadcaster claimed.

Revenue grew by 8.5% to €5.6bn, up about €450m on the previous year, RTL said.

Advertising revenue slumps brought on by the 2008 global economic recession have battered European commercial nets over the past few years, though signs of change came last year.

For instance, ailing UK commercial broadcaster ITV bounced back, posting first-half ad revenue of £728m, and RTL’s German rival ProSiebenSat.1 reported continued revenue and profit growth throughout last year.

The news is doubly welcome for RTL, as ProSiebenSat.1 CEO Thomas Ebeling had warned the rapid recovery at his channel would slow in Q4.

The RTL group is majority-owned by Bertlesmann and also includes superindie FremantleMedia. RTL sold off its interest in the UK’s Channel 5 last July.

Full-year financial results are due on March 1.