RTL Group’s profits are likely to be hit by the controversial ad tax imposed on its broadcast interests in Hungary earlier this summer.
According to the FT, shares in the group fell by 8.5% after it revealed that a €100 million impairment charge, mainly at its Hungarian business, had more than halved profits to €202 million.
RTL has been forced to downgrade its outlook for 2014, forecasting lower revenues and an even sharper decrease in EBITDA.
Despite growth in Germany, RTL has also been hit by difficult economic conditions in France.
The new ad tax has previously been strongly condemned by RTL, which argues that it is politically motivated and designed to force the broadcaster, itself critical of the Fidesz-run government, out of the country.
