Domenica, 23 Settembre 2018

Mediaset reports flat Q1 profits as revenues drop


Milan, May 14 - Italian television giant Mediaset
on Tuesday reported flat first-quarter profits on the back of
declining revenues.
In a statement, the firm - controlled by the family of
former premier Silvio Berlusconi - said that net profits in the
first three months of 2013 were 9.3 million euros, slightly
lower than the 10.1 million euros reported in the same period of
Revenues at the group, which owns broadcast channels
including Italia Uno, Rete 4 and Canale 5, dropped to 635
million euros from 760 million euros in the first three months
of 2012 as advertising sales weakened.
The company said ad sales were 501 million euros in
January-March, compared with 622 million euros in the year-ago
However the company reported progress in its pay-per-view
Mediaset Premium selection.
Sales of prepaid cards, refills and Easy Pay subscriptions
grew by 10% on the first quarter of 2012 to 144 million euros,
the company said.
Overall operating expenses at the group, including
amortization, dropped by some 20% to 600 million euros from 742
million euros in the same period a year ago.
The company also saw its net debt situation improve, with
debt dropping to 1.584 billion euros in the first three months
of 2013 compared with 1.712 billion euros at the end of 2012.
In its statement, Mediaset said that the data on its
advertising sales at the end of the first four months of the
current (financial) year "confirm how in both Italy and Spain
there is a contraction" compared to the year-ago period, "in
line" with the contraction during the first quarter.
The company said that while there are indications in May of
a stabilization in ad sales over the remainder of the year, "the
scarce visibility, uncertainty and economic instability in the
two countries do now allow us at present to make reliable
forecasts regarding the evolution of advertising sales on a
yearly basis".

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