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MarketScreener Homepage  >  Equities  >  Italian Stock Exchange  >  Mediaset    MS   IT0001063210

MEDIASET

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Italy's Mediaset predicts 2020 profit on advertising recovery

11/11/2020 | 07:06am EST

MILAN (Reuters) - Mediaset expects an advertising recovery which helped Italy's top commercial broadcaster swing back to profit in the third-quarter will mean net and operating profits this year.

Shares in Mediaset, which is controlled by the family of former Prime Minister Silvio Berlusconi, rose as much as 8% on Wednesday after its third quarter earnings exceeded forecasts.

As Italy introduces new restrictions to curb a COVID-19 resurgence, Mediaset said it expected the recovery trend to continue despite uncertainty for the final part of the year.

The company said it would take action to lower its cost base to offset any additional slowdown in the advertising market after reducing costs by 11% so far this year.

"The third quarter was better than expectations thanks to the positive trend in revenues with advertising in Italy growing 4.6%," Milan-based broker Equita said in a note, adding that October advertising revenues were also positive.

Mediaset said its net profit in the three months through September rose to 29.4 million euros ($35 million), from a net loss of 10.6 million euros a year earlier.

Domestic revenues, which account for more than two thirds of Mediaset's total, rose 4.1% in the quarter from the previous year, although group sales fell 12.7% in the first nine months.

Mediaset CFO Marco Giordani told analysts that the company still expected Europe's TV sector to consolidate and it would remain a long-term investor in Germany's ProSiebenSat.1, of which it holds nearly 25%.

Giordani did not update on an ongoing legal row with Vivendi, Mediaset's second-biggest shareholder, which has forced the group to shelve plans to merge its domestic and Spanish businesses to pursue tie-ups in Europe.

Although Mediaset and Vivendi, at loggerheads since 2016 over a failed pay-TV deal, have resumed contact, sources close to the matter have said that no resolution is yet in sight.

($1 = 0.8467 euros)

(Reporting by Elvira Pollina; Writing by Stephen Jewkes; Editing by Valentina Za and Alexander Smith)

By Elvira Pollina


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
MEDIASET -2.14% 2.102 Delayed Quote.0.77%
MEDIASET ESPANA COMUNICACION, S.A. -0.98% 4.426 Delayed Quote.3.90%
PROSIEBENSAT.1 MEDIA SE 4.65% 14.4 Delayed Quote.4.69%
VIVENDI SE -0.19% 26.56 Real-time Quote.0.68%
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Financials
Sales 2020 2 553 M 3 107 M 3 107 M
Net income 2020 117 M 142 M 142 M
Net Debt 2020 1 193 M 1 451 M 1 451 M
P/E ratio 2020 21,9x
Yield 2020 0,91%
Capitalization 2 388 M 2 907 M 2 906 M
EV / Sales 2020 1,40x
EV / Sales 2021 1,26x
Nbr of Employees 5 004
Free-Float 23,4%
Chart MEDIASET
Duration : Period :
Mediaset Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends MEDIASET
Short TermMid-TermLong Term
TrendsNeutralBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 15
Average target price 1,87 €
Last Close Price 2,10 €
Spread / Highest target 11,3%
Spread / Average Target -10,8%
Spread / Lowest Target -57,2%
EPS Revisions
Managers and Directors
NameTitle
Pier Silvio Berlusconi Deputy Chairman & Chief Executive Officer
Fedele Confalonieri Chairman
Simone Sole Head-Finance & Administration
Marco Giordani Chief Financial Officer & Director
Marina Berlusconi Non-Executive Director
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