Mediaset España reported operating profit (Ebit) of 81.7 million euros in the first half of the year, compared to 95.8 million euros in the same period last year.
This decline was driven by a drop in consolidated net revenues to 397 million euros, compared to 415.2 million euros in the first six months of 2022. In advertising, the Spanish media group earned 373.2 million euros, 12.6 million less than at the beginning of the previous year, in a period in which it recorded a commercial target of 28.5%.
This is the first half-yearly financial snapshot offered by the group with Borja Prado as president and Alessandro Salem as CEO after the departure of Paolo Vasile, also marked by the merger by absorption by its Italian parent company Media For Europe, in a context in which “the market is still not fully stabilised and could be affected by the outcome of the political elections that have just been held”, according to the company.
Media for Europe increased its profit by 2.5 million euros to 87.1 million euros.
For its part, Media for Europe obtained consolidated net revenues of 1,369.6 million euros, compared to 1,388.5 million euros in the same period last year, also affected by the fall in advertising revenues, which amounted to 1,343.7 million euros (down 18.6 million euros).
Despite this, the group reduced its financial debt, much of it for the acquisition of new shares in Mediaset España, by 65.7 million euros, to 807.6 million euros.
As a result, the media group owned by the Berlusconi family increased its profit by 2.5 million euros to 87.1 million euros.