Berenberg


Mediaset España reports slow growth as ad market falters

Broadcaster Mediaset España saw a modest increase in revenues and a significant drop in earnings and profit in the first quarter as costs mounted and the group’s share of a muted advertising market failed to grow in line with rivals. The broadcaster’s net revenues rose by 2.2% to €188 million, while adjusted EBITDA fell by […]

MFE bullish on 2022 prospects, set to abstain in ProSiebenSat.1 vote

MediaForEurope – the company formerly known as Mediaset – has said advertising revenues for the first quarter were slightly up on last year’s figure despite the impact of the war in Ukraine. MFE said it believed it outperformed the market in Q1 and noted that it had seen any postponements, cancellations or shifts in advertising […]

Berenberg: NENT likely to see fast growth in Netherlands

Nordic Entertainment Group (NENT Group) will benefit from faster than expected growth of its streaming offering in the Netherlands and its new distribution deal with Tele2 in the Nordic market, according to a research note from Berenberg. Berenberg’s analysts hailed “a bout of positive newsflow on the company” since its last note in February, including its Dutch […]

Roku set for growth from CTV and international expansion, says Berenberg

Video device and software giant Roku should stand to benefit from global growth in connected TV and its expansion into Europe and Latin America should double the addressable market for connected TV advertising, according to Berenberg. Delivering a bullish assessment of Roku’s prospects, Berenberg analyst Sunil Rajgopal said that despite a decline in Roku’s growth […]

Berenberg: ProSiebenSat.1 faces ‘growing risks’ as ad recovery falters

Germany’s ProSiebenSat.1 faces growing risks from a challenged advertising market and other factors, with limited likelihood of an acquisition move by leading shareholder MediaForEurope (MFE) before next year, according to analysts at Berenberg. According to Berenberg, while ProSiebenSat.1 turned in solid full-year results and upbeat guidance, the group faces a recovery in the advertising market […]

MediaForEurope launches bid for Mediaset España

MediaForEurope (MFE), the Dutch-based broadcast and media outfit formerly known as Mediaset, has launched a public bid for the 44% of Mediaset España that it does not already own. MFE is offering €5.613 per share in the form of €1.86 in cash and 4.5 ordinary A shares in the parent company, giving Mediaset España a […]

Berenberg modestly bullish on SES, cautious on Eutelsat

SES seems currently to be better placed as an investment opportunity than rival satellite operator Eutelsat, according to analysts at Berenberg – a reversal of the bank’s view of the two companies in past years. In Berenberg’s view, SES makes a more compelling investment as it executes the launch of nine medium Earth orbit and […]

MediaForEurope beats expectations as Italian ad market rises

Mediaset/MediaForEurope (MFE) has published preliminary full-year results that highlighted stellar top and bottom-line growth on the back of a strengthening ad market. MFE recorded 11% growth in revenue to €2.9 billion and an adjusted operating profit of €476 million, up 52% for the full year. The company’s net profit rose by 169% to €374 million. […]

Berenberg reflects on mixed quarter for ProSiebenSat.1

Analysts at Berenberg have reiterated a hold rating, with a reduced price target, for ProSiebenSat.1 after concluding that the German broadcaster’s advertising business performed better than expected but that its high-growth e-commerce activities performed less well in the final quarter of last year. According to Berenberg, “while the entertainment business appears to have had a […]

Berenberg delivers downbeat assessment of Eutelsat’s prospects

Satellite operator Eutelsat continues to face a decline in revenue and earnings, with no immediate sign of a merger or acquisition in sight and risks to guidance posed by an imminent change in leadership, according to a downbeat assessment by analysts at Berenberg. Berenberg’s analysts believe that telecoms tycoon Patrick Drahi’s recent bid for the […]

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