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German pay-TV broadcaster Sky Deutschland managed to reduce its net loss in 2012, but stays deeply in the red.

Below the line, Sky recorded a loss of €195.2 million in 2012. In 2011, the loss amounted to €277.6 million. The figures are taken from the annual financial report 2012 the company published today.

The operative loss (EBITDA) fell from €104.4 million in 2011 to €51.1 million. Turnover rose by 17% to €1.33 billion, while the number of subscribers grew by 351,000 to 3.36 million.

Sky expects the EBITDA to be positive throughout 2013 and to continue to grow in following years. The broadcaster, however, still doesn't say when it expects to reach black figures below the line.

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