In the first half of 2023, TF1 Group reported consolidated revenue of €1,038.1 million. Excluding scope effects, the revenue decreased by €106.6 million (-9.5%) compared to the same period in 2022. Group advertising revenue amounted to €746.4 million, with a decline of €48.3 million (-6.1%) in H1, and a -5.4% change in Q2 2023. Revenue from Newen, a subsidiary, totaled €133.7 million, down by €24.7 million year-on-year. The current operating profit from activities (COPA) reached €152.3 million, a decrease of -€39.8 million. The current operating margin from activities was 14.7%, notably boosted by a 21.6% margin in the Media segment in Q2 2023, up 0.4 points. The current operating profit came to €150.3 million. The total operating profit, which included non-recurring items related to the optimization of the Group’s real estate and strengthening the Employment and Professional Development Management system to support digital acceleration, amounted to €131.1 million. These non-recurring items were part of an optimization plan to achieve more than €40 million euros in operational cost savings by 2025, with a portion reinvested in the digital acceleration plan. The net profit attributable to the Group was €101.3 million, down €25.2 million year-on-year. By the end of June 2023, the net cash position increased to €365.1 million, showing significant growth of €119.9 million (+48.9%) compared to end-June 2022.
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