Mediaset España increases its profit in the first half by 7%

With a net profit of 125.7 million, these are its best results in the last nine years between January and June.

Mediaset España has revalidated its leadership among the most profitable media companies in Europe in the first six months of 2017, improving its operating margins and net profit with the highest values ​​since 2008.

In an environment marked by a flat trend in the television advertising market (-0.1%, according to Infoadex), Mediaset España has once again led investment with a market share of 43.2%, almost one point ahead of Atresmedia (42.3%).

The gross advertising revenue of Mediaset España media has reached 491.1 million euros, replicating the figure obtained in the first half of 2016, a period in which 18 Euro Cup matches were broadcast, which makes it impossible to establish a homogeneous comparison in terms of advertising revenue. A particularly brilliant result, even more so taking into account the evolution of the advertising market in the second quarter.

Including advertising sales for other media (10 million) and commissions, net advertising income reached 480.6 million. The total net billing, which includes 28 million from other non-advertising income, has been 508.5 million in this period.

Mediaset España has reduced its total operating costs by 6.0% this semester to 345.3 million, compared to the 367.5 million registered in January-June 2016.

EBITDA stood at 168.0 million, which represents a margin on total net income of 33.0% and an increase of 5.0% (8 million) compared to the same period in 2016. The EBIT operating margin was 159.2 million, 6.1% more than in the same period of 2016, which implies a margin on total income of 31.3%. Both EBITDA and EBIT represent the company's highest figure in the first six months of the year since the economic crisis and the resulting fall in the advertising market began in 2008.

Mediaset España has obtained a net profit of 125.7 million, 6.8% higher than the 117.7 million obtained in the first half of 2016 (+8 million). This result represents a margin on total income of 24.7% and a profit of €0.38 per share.

After the payment of 175.7 million in dividends and 25.4 million for the repurchase of own shares, the strength of the Group's balance sheet has been confirmed once again, which shows a positive net financial position of 117.9 million at the end of June. Mediaset España has generated a free cash flow of €138.9M in the first half of the year, which represents 82% of the EBITDA of the first half.

Regarding the second quarter of 2017, Mediaset España has achieved total net income of €268.1M with a net profit of €65.1 million. Its position as market leader has been confirmed with an advertising market share of 43.1%, based on Infoadex data.

Total net income was 268.1 million, with operating costs of 181.1 million. The EBITDA, of 86.9 million, represents a margin of 32.4% on total net income, a figure that improves by almost two points the margin achieved in the months of April, May and June of the previous year.

Television

All Mediaset España channels (29.2%) have confirmed their leadership in the first half. They have been the reference in the commercial target (30.7%), prime time (28.7%), day time (29.5%) and in all age segments, with special attention to young people aged 13-24 (35.2%) and 25-34 years (32.8%).

Telecinco (13.8%), most watched channel in this period for the sixth consecutive year. It has also been the leader of prime time (14%) and day time (13.8%).

Four (6.2%), third private chain in commercial target (7.3%). In this segment of the audience, the most attractive for advertisers, it also prevails over its competitor in prime time (8.1%), day time (6.9%) and late night (8.5%). The rest of its channels obtained 3% (Factoría de Ficción), 2.3% (Divinity), 2% (Energy), 1.3% (Boing), and 0.5% (Be Mad).

The set of Mediaset España websites has achieved a monthly average of 11.9 million unique users in the first half of the year, with an increase of 11.7% compared to the same period in 2016. In addition, it has strengthened its leadership among all Spanish media in desktop video consumption with 427 million views, 7.7% more than Atresmedia. Globally in Spain it is ranked sixth, only surpassed by large multinational platforms such as Google, Facebook, VEVO, Warner Music and BroadbandTV.