Mfe, semester of progress in promoting, profitability and earnings | EUROtoday

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Mediaset Group's accounts improved and exceeded analysts' consensus within the first half of the yr. Mfe CEO Pier Silvio Berlusconi had already stated this when interviewed on Wednesday 18 September by Tg5 within the 8pm night version and reiterated the idea within the be aware with which the corporate's accounts have been launched: “Thanks to the international dimension of the Group, a geographical diversification that cushions imbalances in the various markets, and thanks to our increasingly advanced cross-media system, this half-year we have also achieved results above all expectations. In a period that has also seen the accounts of the entire media sector decline at an international level, with drastic cuts in employment, Mfe has recorded constant growth in terms of advertising revenue, profitability and earnings”.

Accounts past consensus

The numbers which have obtained the approval of the Board of Directors in actual fact report for the Cologno group consolidated internet revenues of 1,476.5 million euros (+7.8%); a optimistic working consequence (Ebit) of 136.3 million euros (+12.7%); a internet revenue rising to 104.7 million euros (+20.2%). The consensus of analysts had thought of group revenues of 1,473 million, Ebit of 129 million and internet revenue of 99 million. The consolidated internet monetary debt at 30 June 2024 is the same as 662 million euros, a pointy drop in comparison with the 902.8 million of 31 December 2023: exactly 240 million much less.

«The progress in promoting revenues, supported within the interval by glorious outcomes on the editorial degree, was extra sustained than preliminary estimates and contributed to the achievement within the interval beneath examination of consolidated financial margins (Operating consequence and Net consequence) optimistic and better than these recorded in the identical interval of the earlier monetary yr» reads the be aware from Mfe-Mediaforeurope.

Rising working prices

Consolidated whole working prices (personnel prices, prices for purchases, companies and different expenses, amortization and write-downs of rights and different fastened property) rose by 7.3% to 1,340.3 million euros (1,248.7 million euros in the identical interval of 2023), with a change, the group writes, «primarily linked to the modifications within the consolidation scope».

Advertising “above expectations”

The consequence was worthwhile, nonetheless, with promoting income, explains Mediaset, which «maintained a development above expectations and according to that of the primary half of the yr, regardless of the coincidence of worldwide sporting occasions (the European Football Championship till mid-July and the Paris Olympics between the tip of July and the primary a part of August) not obtainable to the Group each in Italy and in Spain».