Mfe, leap in revenue (+66.5%) and affirmation of the expansion anticipated for 2024 | EUROtoday

Listen to the audio model of the article

Mediaforeurope «confirms the target of sustaining a decidedly optimistic consolidated working end result, web end result and free money stream on an annual foundation». The Mediaset group, led by CEO Pier Silvio Berlusconi, reviews a primary quarter of the yr with enhancements in revenues, promoting gross sales, working outcomes and web revenue. And following the optimistic outcomes of the primary months of the yr, Mfe confirms all of the steerage on the end-of-year aims beforehand communicated.

Results above consensus

The notice launched by the group reviews an enchancment in revenues of 8.2% equal to 699.8 million euros, with web revenue rising by 66.5% to 16.8 million with a leap of 66.5%, whereas the Group working revenue (EBIT) rose to 23.5 million (+21.8%). The outcomes are larger than the consensus, which indicated revenues of 695 million, a revenue of 11 million and Ebit of 19 million. All this within the face of complete consolidated working prices that went from 627.3 million to 676.3 million. Consolidated core money technology (free money stream) has in the meantime grown by 34% to 213 million, leading to an enchancment in monetary debt, equal to 676.9 million at 31 March 2024, in comparison with 902.8 million at 31 December 2023.

Advertising rising in Italy and Spain

Gross promoting revenues within the quarter rose by 6.3% to 669.4 million and different revenues to 111.8 million, additionally because of the contribution of the complete consolidation of Mediamond because the starting of the yr. In Italy, gross promoting income on the media managed by the group reached 489.2 million (+5.7%) whereas in Spain it stood at 180.2 million (+8%).

Confirmation of steerage

«The Group – we learn within the notice from Mfe – strengthened by these outcomes and by its stable editorial positioning, each linear and digital, confirms for the present monetary yr the target of consolidating its market shares, taking into consideration the final context which continues to be extraordinarily unstable and contingent components of the tv market anticipated for the remaining a part of the monetary yr, with the central half, in any case seasonally much less fascinating for buyers, conditioned by vital sporting occasions (European soccer championships in June and July and Olympics between July and August ) not accessible to the Group, and the previous few months which might be confronted with an especially sustained pattern in promoting revenues in Italy in 2023″.

«Prosiebensat focuses on the core business»

As for the German subsidiary (29.7%) Prosiebensat, «as a long-term shareholder, Mfe remains focused on the constant monitoring of its investment, supporting the Company's management to concretely implement the strategy of focusing on the core business of entertainment and valorisation of non-strategic assets”. And «based mostly on the proof of progressive enchancment of the promoting context within the Dach areas (Germany, Austria and Switzerland) and the effectivity actions undertaken within the second a part of final yr, an enchancment within the financial outcomes, within the technology of money and debt in comparison with 2023″.