Mediaset Profit Drops Sharply in Q1

MILAN: Mediaset’s group profits fell to 10.3 million euros ($13.3 million) in the first quarter from the year ago’s 68.4 million euros ($88.4 million), on revenues that were down 12 percent to 977.8 million euros ($1.3 billion).

For the Italian operations, revenues slipped to 760.2 million euros ($982.2 million) following a 10.2 percent fall in gross ad sales to 622.7 million euros ($804.8 million) and a slight fall in Mediast Premium revenues to 131.1 million euros ($169.6 million). Net profit for the operations in Italy plummeted from 51.4 million euros to 1.5 million euros.

Mediaset España had revenues of 218 million euros, reflecting an 18-percent, with gross ad revenues falling 17 percent. Net profit for the segment fell from 40.1 million euros to 21.2 million euros.