Belgium’s Roularta hit by TV advertising drop

Revenue from Belgian media group Roularta’s audiovisual division, which includes a 50% share in TV channel VTM as well as ownership of channels 2BE, JIMtv, Kanaal Z, digital channel provider VMMa and a 50% stake in regional broadcast group RMM, fell by 13.2% to €82.5m in the first half of the year, largely thanks to a 10% drop in TV advertising revenues.

The division’s EBITDA fell from €13.2m to €10.2m, thanks in part to €1.7m of restructuring and non-recurring costs. Net profit was €4.6m, down from €6m.