This added 18 million of recurring savings

TF1 had good news to announce Friday. The growth of revenues this year will not be 4, but 7. What would its turnover to 2.53 billion euros and would allow him to approach that of 2008-2,595 billion - without it. For the audio-visual subsidiary of the Bouygues group, this was the second upward revision of its estimate of growth since January. In February, fearing a fragile economic recovery, Nonce Paolini, CEO of the TF1 group, had, admittedly, preferred to play prudence in promising growth limited to 2 for the year.

Since then, the return of the advertisers is confirmed, the football World Cup, with a rebound in the price of the advertising-supported. In the first half, the first string thus saw its turnover bounce 11.4, to EUR 765 million. That the diversification has grown 17 and, in fine, the Group consolidated revenue increased 14, 1.285 billion. Improvement of activity resulted in the accounts by an operational profit multiplied by 2.8 to 104.4 million and a net profit increase of 51, to $ 74 million. Relief amplified by the savings. To cushion the impact of the costs of the world of football (60 million), the reduced 22 million of the other programs on the period. Which allowed to limit the cost of grid in the first half to EUR 483 million (against 455 million a year earlier). This added 18 million of recurring savings. Should be not more that TF1 action flies 6.41 Friday to 12,45 EUR.

This, as, for the moment, the second half presents rather favourable auspices. July would remain, in advertising terms, the trend of the first half. And the months of September and October to announce "supported". The group will also include two channels of digital terrestrial television free, TMC - "l eader in profitable growth" - and NT1, promising development (90 million of turnover set in 2009) since the third quarter.

A "reachable" target

In anticipation of 7 growth for the year - which means a modest increase of 1 in the second half-, Nonce Paolini recognizes that it sets an objective "reachable" and "reasonable". Can the group do better "I don't know", said analysts. Indeed, comparisons will be more difficult on the second part of the year, the crisis had been much less violent on the second part of the year. "For the President and CEO of TF1, the months to come will be suspended from the economic context". But "for the moment, we see clouds step accumulate", he observed.

The TF1 group Nonce Paolini, less will depend on his flagship, the. "We are widening our model", he explained, noting: "Until then, it was based on our relationship with the media agencies and advertisers." We have opened a new field with the telecom operators who become our partners. "Tomorrow, we will increase direct offers to consumers by offering them games online, video on demand for performances. In online gambling, TF1 does not not however look at the proposals of interested actors at an entrance to the capital of its subsidiary SPS.