Telecinco profits cut by a third
Iñaki Ferreras | 08-05-2011
Even though it saw a marked rise in revenue, Mediaset's Spanish national network Telecinco saw its net profits reduced by 31% in the first quarter of 2011 to total €40.07 million.
At the same time the company posted revenues of €266.11 million, an increase of 25.5% compared with the same period last year. EBITDA was €51.44 million, €26 million less than in Q1 2010.
Explaining the reasons behind the performance, Telecinco highlighted the fat that during the period, the company had been forced to adapt to merging Cuatro within Mediaset España, an operation for which the company has concentrated all of its efforts.
With regard to the Grupo Publiespaña advertising division, it produced revenues before taxes of €252.71 million through the management of multiplatform audiovisual contents, pay-TV, the internet and other advertising channels. The TV division achieved revenues before taxes of €258.23 million from advertising.
Here Telecinco said the advertising market has been affected by the weak advertising market. As a result the company has designed a commercial offering to address the multi-channel varied offering.