Growth in advertising brings Mediaset to strong recovery – Digital TV Europe
Strong growth in the advertising market in Italy and Spain lifted Mediaset’s first-half results above the level reached in 2019 before the global pandemic, according to the company.
Mediaset achieved net sales of 1.387 billion euros in the first half, compared to 1.166 billion euros last year. The second quarter was particularly strong with a turnover of 753 million euros compared to 484 million euros in 2020.
In Italy, total sales amounted to 963.7 million euros, compared to 791.3 million euros in the same period last year. In Spain, income cam
First half EBITDA was 429 million euros, compared to 300 million euros last year, and second quarter EBITDA climbed to 247 million euros, compared to 116 million euros .
The Italian media group said the growth of advertising has been a deciding factor in both Italy and Spain. In Italy, advertising sales increased for the fourth consecutive quarter, and the company was also successful in keeping costs below pre-pandemic levels.
Spain recorded advertising revenue of 406.1 million euros, compared to 325.1 million euros in the previous six months. In Italy, meanwhile, the figure was 979.9 million euros, up 31.7%, compared to 744.2 million euros in the same period of 2020.
The group’s consolidated net income for the period amounted to 226.7 million euros, compared to a loss of 18.9 million euros for the same period last year. The consolidated net result is also better than that of the first half of 2019, when the company recorded 102.7 million euros. Mediaset said that even after one-off items including the sale of the company’s 40% stake in EI Towers and dividends from its stake in ProSiebenSat.1, profit was still higher than in 2019.