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MFE falls more than 2% due to lower revenues in full merger with Mediaset

Date: March 4, 2024 Time: 02:00:45

MFE-MediaForEurope (MFE), parent company of Mediaset España, leaves more than 2.1% on the stock market, up to 0.457 euros after presenting the quarterly results, whose income shows slight falls. Between January and March, the media conglomerate controlled by the Berlusconi family broke a consolidated net turnover of 646.6 million, 1.2% less than in the same period in 2022. This magnitude has been influenced by the lower turnover in advertising, which requires 1%, up to 629.5 million.

The Italian company obtained a net profit of 10.1 million in the first part of 2023, a figure that multiplied by more than three the 2.7 million in the same period of 2022, as reported this Wednesday by the group controlled by the Berlusconi family it’s a statement. MFE has highlighted that its earnings for the January-March period were boosted by the increase in its stake in Mediaset España from 55.69% in the first quarter of 2022 to 84.45% in the first three months of this year.

100% in MFE accounts from the second quarter of this year. The group lost a gross operating result (Ebit) of 19.3 million euros, 26% more compared to the 15.3 million registered in the first three months of 2022.

MFE’s total consolidated operating costs stood at 627.3 million euros up to March, which represents a decrease of 1.8% compared to 639 million euros in the same period of the previous year. The Group’s Consolidated Net Debt Closed March At 731.7 Million Euros, Compared To The 873.3 Million Registered In The Same Period Of 2022. The Company Has Highlighted That First Quarter Disbursements 15.5 Million To Acquire New Minority Stakes (1.53%) in Mediaset España .

MFE has indicated that, despite the unstable environment caused by the persistence of the conflict in Ukraine and inflationary pressure, the group’s accounts registered a “very positive” evolution in the first three months of the year. In Spain, the group obtained net income of 181.5 million euros between January and March, below the 188 million in the first quarter of 2022, while in Italy it billed 465.2 million euros, a figure slightly lower than the of the first three months of last year (466.3 million). After the results of the first quarter, the company has confirmed its expectations of registering a “positive sign” in its annual profit, operating result and free cash flow.

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Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.

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