Telecinco revenues and profits tumble in 1Q09

Telecinco has recorded a 36% year-on-year decline in first quarter revenue of €159.7m.

The Mediaset-backed Spanish free-to-air broadcaster saw its operating profit tumble 64% in the same period, taking the total to €29.3m. The depressed TV advertising market, audience fragmentation and decline in viewing share all contributed to the first quarter results. Analysts cited cost cutting measures, which it said were proving effective. Operating costs fell over 11% to €116m. One bright note is the upcoming introduction of legislation that will limit public broadcaster TVE’s ad minutage, removing one of Telecinco’s key competitors from the ad market.