Mediaset: FY 2019 income up
(CercleFinance.com) - On Tuesday evening Mediaset reported FY 2019 earnings growth, despite "difficulties" encountered by the traditional media sector, both nationally and internationally.
Excluding exceptional items, the Milan based group's net profit reached 190.3 million euros last year, almost double the 97.4 million euros in 2018.
The Italian broadcaster's revenues reached 2.9 billion euros, compared to 3.4 billion euros in 2018, mainly due to the fall in advertising revenue.
Mediaset - headquartered at the Italian epicenter of the coronavirus epidemic - added that visibility relating to its activity had significantly fallen in recent weeks due to the state of emergency linked to Covid-19.
Regarding the start of its project to create a pan-European media champion via the Netherlands-based MediaForEurope (MFE) holding company, the group said that this now depends on legal proceedings launched by Vivendi, which remains opposed to the project.
Mediaset shares are currently pretty flat at lunchtime on the Milan Stock Exchange.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
Excluding exceptional items, the Milan based group's net profit reached 190.3 million euros last year, almost double the 97.4 million euros in 2018.
The Italian broadcaster's revenues reached 2.9 billion euros, compared to 3.4 billion euros in 2018, mainly due to the fall in advertising revenue.
Mediaset - headquartered at the Italian epicenter of the coronavirus epidemic - added that visibility relating to its activity had significantly fallen in recent weeks due to the state of emergency linked to Covid-19.
Regarding the start of its project to create a pan-European media champion via the Netherlands-based MediaForEurope (MFE) holding company, the group said that this now depends on legal proceedings launched by Vivendi, which remains opposed to the project.
Mediaset shares are currently pretty flat at lunchtime on the Milan Stock Exchange.
Copyright (c) 2020 CercleFinance.com. All rights reserved.