Mediaset outlines 2020 strategy
March 13, 2020 11.18 Europe/London By Chris Dziadul
Mediaset says it is operating on two complementary fronts on account of the social and economic impact of the coronavirus crisis.
In a statement on the full year 2020 accompanying its latest set of results, it says that the first is pursuing international development with determination, alongside other mid-term structural projects, and second putting in place all the necessary measures to contain the eventual negative impact on the advertising market with a view to safeguarding the Group’s results and cash generation.
It also notes that following the completion of the MediaForEurope (MFE) project, the timing of which is dependent on ongoing legal proceedings brought by Vivendi, the Group expects to benefit from both synergies and the new opportunities offered by the pan-European scale.
Mediaset had net revenues of €2,925.7 million in 2019, down from €3,401.5 million a year earlier. However, its EBIT was considerably higher, up from €73.7 million to €354.6 million, while its net profit rose from €97.4 million to €190.3 million.
Mediaset channels were the market leaders in both Italy and Spain, with Canale 5 and Telecinco the top channels in their respective countries in the commercial target.