Antena 3's profits down 14.4%
Ińaki Ferreras ©RapidTVNews| 25-02-2012 Spain's national private network Antena 3 made a profit of 93.4 million euros in 2011, 14.4% down on the 109.1 billion euros it raised in 2010.
The company's net incomes amounted to 805.2 million euros in 2011, down 0.3% onthe previous year.
Antena 3 explained these results by saying evolution of the conventional media advertising market declined by 7% compared with 2010.
The company's gross operating profit (EBITDA) totalled 124.4 million euros in 2011, down 20.7% compared with 2010, while net operating profit (EBIT) fell by 23%, reaching 108.6 million euros.
Antena 3's television stations (Neox, Nova and Nitro) showed a gross operating profit of 103.2 million euros, representing a fall of 28.5%. Net income for the group through the television division rose to 669.6 million euros, up 2.6% from the previous year.
According to internal sources the television advertising market declined by around 10% in the cumulative to December 2011 compared with 2010, this decrease being especially hard in the case of the fourth quarter, where the market went down 15%.