The Constantin Medien media company, which owns the Team Marketing agency and German sports broadcaster Sport1, has reported a 45-per-cent drop in sales at its sports events and marketing division for the first six months of 2013.
The division’s sales amounted to €19.5m ($25.4m), down year-on-year from €35.5m.
The company said that the fall was anticipated after a change in its relationship with long-standing partner Uefa, European football’s governing body.
Constantin, which reported overall sales of €199.7m in the first half of 2013, down 5.7 per cent from €211.7m last year, made a net loss of €4.6m for the six months until the end of June.
“In the first half-year we set important strategic steps, in particular in the sports segment regarding the expansion of our digital offers under the umbrella brand Sport1,” Bernhard Burgener, chairman of the Constantin management board, said.