Advertising growth lifts Mediaset to strong recovery

Strong growth in the advertising market in both Italy and Spain has lifted Mediaset’s first-half results above the level achieved in 2019 before the global pandemic struck, according to the company.

Mediaset posted net revenues of €1.387 billion for the first half, up from €1.166 billion last year. The second quarter was particularly strong, with revenues of €753 million compared with €484 million in 2020.

In Italy, total revenues came to €963.7 million, compared with €791.3 million in the same period last year. In Spain revenues cam

EBITDA for the first half was €429 million, up from €300 million last year, with EBITDA for the second quarter rocketing to €247 million, up from €116 million.

The Italian media outfit said that growth in advertising had been a decisive factor both in Italy and Spain. In Italy, ad sales increased for the fourth successive quarter, and the company was also successful in keeping costs below pre-pandemic levels.

Spain recorded ad sales of €406.1 million, compared with €325.1 million in the previous six months. In Italy, meanwhile, the figure was €979.9 million, up 31.7%, compared with €744.2 million in the same period of 2020.

The group’s consolidated net profit for the period came to €226.7 million, compared with a loss of €18.9 million in the same period of last year. Consolidated net result was better also than that of the first half of 2019, when the company recorded €102.7 million. Mediaset said that even after exceptional items, including the sale of the company’s 40% stake in EI Towers and dividends from its stake in ProSiebenSat.1, the profit figure was still higher than the number for 2019.