Mediaset Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2018; Reiterates Tax Rate Guidance for Full Year 2018
Mediaset reported unaudited consolidated earnings results for the first quarter ended March 31, 2018. For the quarter, the company reported net revenues of 860.6 million, EBITDA of 317.9 million, EBIT of 53.9 million, EBT of 52.6 million, net results from continuing operations of 39.2 million and group net result of 3.5 million against net revenues of 889.3 million, EBITDA of 351.6 million, EBIT of 76.2 million, EBT of 72.4 million, net results from continuing operations of 52.5 million and group net result of 15.8 million a year ago. Consolidated net financial debt as at 31 March 2018 came to 1,377.1 million, a decrease compared to the figure at 31 December 2017, equal to 1,392.2 million. Free cash flow amounted to 36.3 million. During the first quarter, capital expenditure of 21.3 million was incurred by the subsidiary EI Towers for business combinations.
The company reiterated 2018 guidance that it provided during the full year presentation. Regarding the tax rate, company is estimating to be around 37% for the full year 2018. On the net financial position, again, the company reiterate its final full year guidance, to maintain the group net debt to EBITDA ratio below 1x.