(Finance) – The group MFE extension (Mediaset) closed the first nine months of 2022 with a Net income which drops by approximately 71% to 78.5 million compared to 273.8 million in 2021, which also benefited from the capital gain of 86.7 million generated by the sale of Towertel (EI Towers).
THE Net revenues consolidated amounted to 1,900.1 million from 1,992.7 million in the previous year. L’Ebit is positive for 97.6 million compared to 275 million in the same period of 2021.
L’net financial debt consolidated as at 30 September is equal to 877.3 million, substantially in line with the figure of the beginning of the period equal to 869.2 million. Free cash flow in the nine months is 359.1 million from 423.6 million in the same period of 2021.
In the first nine months of 2022 i gross advertising revenues in Italy of the MFE group (Mediaset) reached 1,309.2 million euros, with a contraction of 2.5%, much lower than the -8.6% recorded by the television market (Nielsen data) in the period.
Outlook 2022
Despite the current complex context, thanks to the solid editorial positioning, the considerable share of the advertising market and the ability to promptly adjust the cost profile to the trend in advertising sales, the MFE Group “confirms the objective of achieving positive economic results and core cash generation (free cash flow) for the year 2022. In particular in Italy – underlines Mediaset – in the last quarter of the year, in terms of operational management, the total costs will remain decidedly below those of the same period of the previous year, while in the last part of the year the dynamics of overall advertising revenues on media managed by the group will be characterized by a two-speed trend. Up to mid-November – explains the company – the trend in funding demonstrated good resilience with a better trend than in the first nine months of 2022, while for the second half of November there is poor visibility and a trend conditioned by the presence of World Cup in Qatar broadcast exclusively by Rai”.