June 10, 2020 / 7:56 AM / a month ago

ProSieben CEO: Business is tough but we are focused on profits

BERLIN, June 10 (Reuters) - German broadcaster ProSiebenSat.1 Media faces massive headwinds due to the coronavirus pandemic but is focusing on making its business "storm-proof" and achieving stronger medium-term profitability, its CEO said on Wednesday.

Speaking ahead of the company's annual general meeting, Rainer Beaujean said advertising revenues in May were down in line with a 40% drop in April, while the first days of June were no better.

But, Beaujean told reporters, ProSieben was determined to achieve a medium-term return on capital employed of at least 15%. The company plans to float its dating business in 2022 as it prioritises its core entertainment franchise, he added. (Reporting by Douglas Busvine; editing by Thomas Seythal)

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