MADRID, 24 May. (EUROPA PRESS) -
The media conglomerate MFE-MediaForEurope (MFE), parent company of Mediaset España, registered a net profit of 10.1 million euros in the first quarter of the year, a figure that multiplies by more than three the 2.7 million euros of the same period of 2022, as reported this Wednesday by the group controlled by the Berlusconi family in a statement.
The company has highlighted that its earnings for the January-March period were boosted by the increase in its stake in Mediaset España from 55.69% in the first quarter of 2022 to 84.45% in the first three months of this year.
The group has explained that the merger by incorporation of Mediaset España became effective as of the second quarter, so that the group's operating activities in Spain will be 100% consolidated in the MFE accounts as of the second quarter of this year. .
Between January and March, the media conglomerate controlled by the Berlusconi family registered consolidated net income of 646.6 million euros, 1.2% less than in the first quarter of 2022.
For its part, gross advertising revenue decreased by 1%, to 629.5 million euros, compared to 635.9 million euros in the first quarter of 2022.
In addition, the group achieved a gross operating result (Ebit) of 19.3 million euros, 26% more compared to the 15.3 million registered in the first three months of 2022.
MFE's total consolidated operating costs stood at 627.3 million euros up to March, representing a decrease of 1.8% compared to 639 million euros in the same period of the previous year.
The group's consolidated net debt closed March at 731.7 million euros, compared to the 873.3 million registered in the same period of 2022. The company has highlighted that in this first quarter it disbursed 15.5 million euros to acquire new minority stakes (1.53%) in Mediaset España.
MFE has explained that, despite the unstable environment caused by the persistence of the conflict in Ukraine and inflationary pressure, the group's accounts registered a "very positive" evolution in the first three months of the year.
In Spain, the group obtained net income of 181.5 million euros between January and March, below the 188 million in the first quarter of 2022, while in Italy it billed 465.2 million euros, a figure slightly lower than the of the first three months of last year (466.3 million euros).
After the results of the first quarter, the company has confirmed its expectations of registering a "positive sign" in its annual profit, operating result and free cash flow.